| Teresa Carlos |
Banking on good fortune and good management Seven years after its so-called liberation in 1990, the Rural Bank industry experienced a drastic paradigm change. Rural banks then neared extinction as branching out was suspended due to the major effect of the Asian economic crisis in the country. Had it not been for a favorable stroke of luck, Bank of Florida (BOF), considered a cornerstone in the rural banking community of Pampanga and now one of the country’s Top 15 rural banks, could have suffered the same fate. “Fortunately, BSP (Bangko Sentral ng Pilipinas) had approved our application for three new branches before the suspension,” relayed Teresa David-Carlos, BOF President and CEO. “The three branches—the Candaba Branch Office, the Guagua Branch Office, plus the Guagua Shopping Mall Branch Office—enabled BOF to withstand the crisis, in fact, allowing the bank to perform excellently despite the troubles of that year.” But all was not about good fortune. Carlos, a CPA, real state broker, and former treasurer of the Rural Bankers Association of the Philippines, used her almost 25 years of experience in the industry to steer BOF to its massive success. “We have been named among the top two rural banks in terms of capital in Central Luzon,” said the 50-year-old banker who was first exposed to banking as a trainee in the Bank of the Philippine Islands. She added, “We currently have 11 branches now. From Pampanga, we have expanded to provinces like Bulacan and Tarlac.” The expansion, according to her, resulted from the 1991 Mt. Pinatubo disaster. Because she was dedicated not to give up the business, of which the first beneficiaries were the sugar planters, farmers, and traders working in the Floridablanca-based Pampanga Sugar Mill in the early 60s, Carlos risked testing other territories rather than sitting on her corporate chair and allowing lahar for a wipeout. To date, BOF has been active in helping its clients with their banking and financing needs. The institution too has catered to many through their extensive loan programs—from agri loans, fishpond loans, and sugar crop loans to commercial loans, salary loans, and even housing loans through SSS. “Our vision to spark countryside development has been achieved but that doesn’t mean that we are going to rest on our laurels,” Carlos said. On October 8, Carlos will be honored by Presidential Consultant for Entrepreneurship Jose Concepcion III as an Inspiring Pampanga Entrepreneur, an award given by the Philippine Center for Entrepreneurship as part of the Go Negosyo sa Pampanga slated at the Bren Guiao Convention Center in San Fernando. Go Negosyo sa Pampanga is part of PCE's latest campaign, the Go Negosyo Caravan, which aims to bring Go Negosyo forums and expositions in key cities in the country. The Caravan has already visited Cebu, Bacolod, Baguio, and Manila. Go Negosyo sa Pampanga is presented by the Philippine Center for Entrepreneurship in partnership with the Metro Angeles Chamber of Commerce and Industry and the Pampanga Chamber of Commerce and Industry. Major partners include PAGCOR, Globe, Hyundai, San Miguel Corporation, Splash Corporation, PLDT, Smart, RFM Corporation, The Philippine Star, The Philippine Daily Inquirer, The Manila Bulletin, GMA Network Inc., RPN9, NBN4, Aspac-Law and Creativoices Productions. |
