The RURAL BANK OF BAUANG, INC. (RBBI) is a domestic and stock corporation established by the former owner and founder Mrs. Laura R. Milo and Family, registered with the Securities and Exchange Commission on October 6, 1964 with registration number 25885. A certificate of authority to operate as a rural bank was granted by the BangkoSentral Ng Pilipinas on October 10, 1964. The bank was acquired in 1982 by the new management. At present the bank is headed by the President Mr. Pancracio Q.Nisce and Chairman Atty. Salvador Antonio T. Nisce.
With an authorized capital stock of P25 Million divided into P23.5 Million common and P1.5 Million preferred with total assets of P 258.403 Million at year end December 31, 2021.
Established to generate deposits and provide access to credit and financial services in the community which targets mostly the agricultural sector, micro, small and medium business sector.
The Rural Bank of Bauang, Inc. has been posting profitable operations, however the profits for the past two (2019-2021) years when the economy was affected due to the pandemic was not as good as in prior years. However, the Rural Bank of Bauang, Inc. continued its mandate to become partner in community development by providing livelihood assistance through financial facilities not only in the municipality of Bauang but also in the nearby towns and city.
RBBI is located at Cor. Florendo St. Central East, Bauang, La Union a first class municipality.The principal office is strategically located within the business district with an Extension Office located at the Bauang’s public market with microfinance products (tricycle loans offered to tricycle franchisees and asenso loans offered to stallowners).
The RBBI Board of Directors is composed of five (5) members; one (1) of them is an Independent Director.
In March 2011, the Bank amended its articles of incorporation extending its corporate life to another fifty (50) years.