History of Dumaguete Rural Bank Inc.
Operating in an environment of mutual respect sets the tone of how well we can work together.
Operating in an environment of mutual respect sets the tone of how well we can work together.
Dumaguete Rural Bank, Inc. or DRBI formally opened its doors to the public on July 8, 1958, under the leadership of Dr. Vicente G. Sinco and his family. Its principal place of office was located along Real Street, Dumaguete City and was the very first private bank established in Negros Oriental. At its inception, Dumaguete Rural Bank, Inc. had the minimum capitalization required for a rural bank.
Dumaguete Rural Bank, Inc. is guided with the strong commitment to its mission and vision which is:
To be able to help the community grow & develop through the use of bank facilities and services. This will be done through the pooling of idle funds from the citizens of Dumaguete and Negros Oriental, channeling this into productive enterprises that will provide job opportunities and profit to its owners.
We are in the business of helping clients achieve financial success throughout their economic lives. Working as a team, we will deliver quality products and services to our valued clients. We will emphasize strong client relationships and community involvement. We will provide a culture which attracts, empowers, rewards and provide growth opportunities for everyone.
Always striving to meet our customers’ expectations and putting the customers first; we do so by focusing on the broad range of their financial needs and delivering quality services that truly fulfill those needs.
Committed to achievement and taking advantage of opportunities. When we decide to do something, we will do it with quality, drive and passion.
Operating in an environment of mutual respect sets the tone of how well we can work together.
Dumaguete Rural Bank, Inc. concentrated its primary efforts to extending rural credit to small farmers, tenants as well as deserving rural industries or enterprises. Three important events marked the initial years of Dumaguete Rural Bank, Inc. The first occurred on February 2, 1959 when Central Bank of the Philippines (now Bangko Sentral ng Pilipinas) gave the bank authority to accept savings deposits. This was followed on March 20, 1961, with the approval to accept demand deposits. A few years after, on June 8, 1973, the Central Bank of the Philippines gave its seal of approval to Dumaguete Rural Bank, Inc. to act as a Foreign Exchange Dealer.
Professional banking services were the keys to Dumaguete Rural Bank, Inc.’s sustained growth and progress over the early years. This growth created the need to expand, therefore, in 1969, Dumaguete Rural Bank, Inc. transferred its principal office to San Jose Street, where it stands today. Throughout its existence, Dumaguete Rural Bank, Inc. withstood several crises due to its sound management as well as strong linkages with the Central Bank of the Philippines and other banking agencies such as the Philippine Deposit Insurance Corporation or PDIC.
In April of 1990, Dumaguete Rural Bank, Inc. joined the Countryside Financial Institutions Enhancement Program or CFIEP. A program, which was aimed at encouraging existing and new investors to infuse new capital into existing banks in order to accelerate the economic development program.
Over the years, Dumaguete Rural Bank, Inc. received recognition and awards from different sectors of society.
In 1960, Dumaguete Rural Bank, Inc. received a Certificate of Honor as Rural Bank of the Year from the Rural Bankers Association of the Philippines or RBAP. The same association granted a Silver Plaque on May 10, 1974 as Rural Bank of the Year throughout the Visayas. On May 24, 1977, the Rural Bankers Association of the Philippines again bestowed a Certificate of Merit, particularly described as being Honorably Mentioned.
On July 19, 2000, Dumaguete Rural Bank, Inc. was given the Pioneering Establishment Award by the Department of Trade and Industry .
Today, Dumaguete Rural Bank, Inc. continues to enjoy that financial strength and vigor required of every banking institution. Dumaguete Rural Bank, Inc.’s products as well as resources have continually grown to provide the maximum and efficient service for which it is noted.
