1984
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January 30: Vigan Banco Rural Incorporada (VBRI) is founded as a fully Filipino-owned corporation.
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With its founding, VBRI establishes a legacy of service to the Vigan City community.
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December 10: VBRI is officially registered as a rural bank with SEC Registration No. 0000123915.
1985
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November 11: The Monetary Board of the Central Bank of the Philippines grants VBRI a Certificate of Authority to Operate No. B 1061.
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November 18: VBRI begins operations with an authorized capital of P 2,000,000 divided into common and preferred shares. This demonstrates the founders’ commitment to financial stability for their customers.
From 1985 to 2007
VBRI opens a range of financial services to empower local communities in Vigan City, including:
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Savings and time deposits to provide secure options for wealth growth
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Specific and practical loan solutions that cater to diverse needs, i.e., agricultural, commercial, and employee salary loans. These loans are granted to employees of government and private entities.
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A minimal lending rate of 26 percent per annum is set up for regular borrowers. Loans covered by a Memorandum of Agreement charge an interest rate of 17 percent per annum.
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To prioritize responsible lending practices, VBRI sets up competitive and adaptable interest rates on loans.
2008 Onward
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December 31, 2008: Total resources breached P22.58 million.
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Customer trust in VBRI’s passion for community service is at an all-time high.
Present Day
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VBRI runs with nine stockholders and 15 officers and employees providing exceptional and personalized customer service.
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VBRI remains a 100% Filipino-owned corporation. It has been in continuous operation since 1985.
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