FCB earns '06 Bank Excellence awards

BOHOL First Consolidated Bank (FCB) recently earned the 2006 Bank Excellence Awards for exemplary performance in small and medium enterprises lending under the Small Business Corporation's wholesale lending program.

FCB President Argeo Melisimo personally received the award for FCB from Zorayda Amelia Alonzo, chair and chief executive officer of SBGFC during awarding ceremonies held in Makati City .

SBGFC is a government finance corporation that extends funding assistance to small and medium enterprises through its conduit financial institutions nationwide. FCB is a conduit bank of SBGFC.

Under the Magna Carta for Enterprises, banks are required by Bangko Sentral to extend at least six percent of their loans for small enterprises and two percent for medium enterprises.

For year 2005, more than 85 percent of the P2.14 billion loan investments of FCB were extended to micro, cottage, small and medium enterprises.

Melisimo said the bank's loan investments reflect its commitment to the development of the countryside, particularly the growth of small and medium enterprises.

This was the fourth time FCB was awarded the Distinguished Partner for its noteworthy performance as an accredited financial institution under the SBGFC Omnibus Credit Program for small Entrepreneurs and for its commitment and support to the development of small and medium enterprises in the country.

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