The Republic Act 720 otherwise known as the Rural Bank Act of 1952, was brought about by the need to provide farmers, fisherman and rural folks, who constituted 85% of the population, access to credit. This is to give them an opportunity to improve the quality of their lives as they participate in the countryside activities for growth and development. Also, this intended to stimulate private investments in order for this particular sector of our nation may participate in countryside nation building.
Our country then was on its way to full recovery from the destructive effect of the war and was very anxious to attain full progress. This RA 720 became a call for progress. One of the first to answer this call was Mr. Isidro B. Liamzon Sr. of Montalban, Rizal. He established Marikina Valley Rural Bank in 1953, making it the second oldest rural bank in the country.
In Pateros, a group of socially-conscious people led by Anatolio B. Cruz saw the need of putting up a bank to serve the needs of the people including its neighboring towns. Rural Bank of Pateros, Inc. (RBPI) was established and incorporated on August 20, 1960. In the year 1964, Mr. Cruz and his group sold their stockholdings to Mr. Liamzon whose reputation as banker was well-respected and recognized in and out of the banking industry. He placed the stocks in the name of his corporation, I. B. Liamzon and Sons, Inc. In those days, Mr. Liamzon had already established several rural banks in the province of Rizal.
From then on, RBPI enjoy the trust and confidence of the people. In the same manner that “balut” was closely identified with the town of Pateros, so with RBPI. The people called it their rural bank and indeed it was. For sometime, it had the reputation of the only bank in Pateros and the name carrier of the town. We can rightfully claim that RBPI gave the people of Pateros their first bank exposure. Sincere to its commitment of providing the countryside with basic banking needs, the bank fulfilled its role of assisting the small and medium enterprises in their initial and additional capital requirements.
Going through the loan portfolio of the bank, you will discover its diverse purposes. A proof that the bank is committed to carry its mission.