SGV conducts capacity building for rural banks

As part of capacity-building initiatives for rural banks, SGV, in partnership with the Rural Bankers Association of the Philippines (RBAP), recently conducted a two-day seminar on PFRS 9 Financial Instruments and BSP Circulars 855 Guidelines on Sound Credit Risk Management Practices and 908 Agricultural Value Chain Financing Framework at the RBAP’s head office in Intramuros, Manila.

Financial Services Office (FSO) Partner Christian Lauron led the team in discussing the implications of PFRS 9 and Circular 855, as well as the proportionate application of expected credit loss models for rural banks. Joining him as resource speakers were FSO Senior Directors Catherine Biliran and Deofel Usuquen, and Senior Associate Russel Ailes. Aside from the discussions on compliance as espoused by PFRS 9 and Circular 855, Associate Director Ruben Simon discussed Circular 908 as an input to rural banks’ strategic plans to grow their agricultural lending portfolio in support of countryside development. The support team for this initiative includes FSO Senior Associates Lyca Antonio, Fitz Balba and Associate Eduardo Montenegro.

The first leg of a nationwide roadshow series, the event was attended by 47 participants representing 25 rural banks from all over the country. Also present at the seminar were outgoing RBAP President Antonio Pasia, incoming RBAP President Giovanni Gabriento, Rural Bankers Research and Development Foundation (RBRDFI) Executive Director Dennis Pena, and RBRDFI Program Manager Ace Calang.