historical filipino bank . for green banking see ethical banking . this article has multiple issues . please help improve it or discuss these issues on the talk page . learn how and when to remove these template messages the topic of this article may not meet wikipedia s notability guidelines for companies and organizations . please help to establish notability by citing reliable secondary sources that are independent of the topic and provide significant coverage of it beyond its mere trivial mention . if notability can not be established the article is likely to be merged redirected or deleted . find sources eastwest rural bank news newspapers books scholar jstor free images january 2014 learn how and when to remove this template message this article relies largely or entirely upon a single source . relevant discussion may be found on the talk page . please help improve this article by introducing citations to additional sources . january 2014 this article needs additional citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . january 2014 learn how and when to remove this template message learn how and when to remove this template message eastwest rural bank inc. type subsidiary industry finance and insurance founded 1975 in butuan city agusan del norte philippines as rural green bank of caraga headquarters pasig city metro manila philippines number of locations 55 stores as of end 2015 9 extension offices eo 6 other banking offices obo key people jonathan t. gotianun chairman antonio c. moncupa jr. elpidio f. masbad iii president and ceo products financial services net income php 634 million 22 % 2015 number of employees 1 000 parent east west banking corporation website www.eastwestruralbank.com eastwest rural bank inc. is a subsidiary and the rural banking arm of east west banking corporation . it was formerly known as green bank or the rural green bank of caraga was a philippine rural bank based in butuan city and also acquired since 2013 by eastwest unibank alongside finman bank a rural bank based in pasig city . prior to its acquisition it was the largest bank in the caraga region in terms of assets and it had 46 branches . it was also one of three rural banks to be affiliated with the philippine interbank network bancnet since 2006 . history edit green bank was incorporated with the filipino securities and exchange commission as the rural bank of nasipit on june 20 1974 . the bank commenced actual operations on april 5 1975 originally to serve the municipality of nasipit agusan del norte . the bank took advantage of a government rediscounting program called masagana 99 with the intention of helping poor farmers gain access to credit . however in the 1980s with the plunge of the philippine economy into recession and the assassination of benigno aquino jr. green bank suffered a very high non performing loan ratio due to the inability of its farmer debtors to pay off their masagana 99 loans . for the next few years the bank s financial standing gradually deteriorated . in 1988 the central bank of the philippines the bangko sentral ng pilipinas issued circular no. 1126 in 1988 designed to help recapitalize and revitalize distressed rural banks . in the case of green bank it had arrears with the bangko sentral amounting to some fifteen million pesos requiring it to recapitalize to cope with capital deficiency . initially stockholders refused although some stockholders eventually agreed to aid the bank s recapitalization . in 1989 the bank s board of directors appointed rufa c. susan to the position of manager helping bring the bank back to profitability . green bank s capital was increased from two million pesos to twenty million pesos in 1992 . this was later increased to sixty million pesos and further on to five hundred million pesos . the bank merged with the rural bank of alegria in 2000 becoming the largest rural bank in the caraga region . it joined bancnet in 2006 being one of three banks that joined the interbank network . the bank followed the grameen bank experimentation with conversion of borrowers from joint liability loans to individual liability loans with no drop in repayments . 1 eastwest rural bank or ewrb formerly finman bank inc. consolidates through an asset acquisition effective november 1 2013 the rural banking business of the two rural banks that east west earlier acquired namely green bank inc. and finman bank inc. finman bank is a 16 year old rural bank based in pasig city and engaged in extending credit to farmers tenants and rural enterprises . east west injected a total of p520 million in fresh capital into ewrb subsequent to the regulatory approval effective may 21 2013 on the latter s increase in authorized capital stock from p80 million to p1 billion . on october 31 2013 eastwest acquired the good assets of green bank inc. also known as the rural green bank of caraga the largest rural bank in the caraga region in terms of assets . based in butuan city agusan del norte green bank has been serving the needs of mostly farmers government and private employees barangay officials pensioners and small scale businessmen . through green bank s strong branch network in the visayas and mindanao eastwest is able to gain entry into the microfinance business . before the asset acquisition green bank inc. has been known as a multi awarded trailblazer in the area of housing microfinance . it was one of the first participating banks under the microenterprise access to banking services mabs a program designed to accelerate national economic transformation by encouraging philippine rural banks to significantly expand the financial services they offer to microentrepreneurs and low income households in the countryside . green bank was also recognized as among the first to use the services of an independent credit ratings agency to boost its loan quality . backed by the strong track record of the entities behind it eastwest rural bank will be able to cater to the underserved segments of the market specifically in the provincial areas and provide wider access to innovative products and delivery channels . it offers deposits and loans including deped salary loan business loan and sss pension loan . as of end 2015 eastwest rural bank had a total network of 55 stores nine extension offices and six other banking offices concentrated mostly in mindanao visayas and in the key cities of luzon . 2 in 2013 east west banking corporation acquired green bank to expand its presence in mindanao and increase is rural lending business . approval was given for the acquisition in december 2013 . 3 see also edit list of banks in the philippines bancnet references edit the handbook of market design nir vulkan alvin e. roth zvika neeman 2013 page 254 they conducted two experiments with the green bank a grameen style lender in the philippines which conducted its redesign in stages and at centers chosen randomly . in the first experiment some of the existing green bank centers in which borrowers were receiving joint liability loans were chosen at random to have their loans converted to individual liability loans . eastwest acquired caraga based rural bank and 16 year old pasig based rural bank . pinoyjobs.ph . january 23 2016 . eastwest gets nod to merge with green bank . the philippine star . december 1 2013 . retrieved from https en.wikipedia.org w index.php title eastwest rural bank & oldid 733720771 categories banks of the philippinesbanks established in 1975companies based in butuanhidden categories articles with topics of unclear notability from january 2014all articles with topics of unclear notabilityarticles needing additional references from january 2014all articles needing additional referencespages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in 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