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News Highlights

FICOBank Holds Its 37th Annual General Assembly Meeting

FICOBank successfully held its 37th Annual General Assembly (AGA) Meeting on May 27, 2017, at the Conference Hall of FICOBank in Minante I, Cauayan City, Isabela, with the theme “Unleashing the Full Potential of the Agriculture Sector.” This year’s annual event was attended by the representatives of the 103 coop-stockholders of the Bank, showcasing their full support and loyalty to the institution. Also in attendance to this AGA Meeting were the Board of Directors, Senior Management, department/office heads, managers and key personnel of FICOBank, and the invited guests.

Right after the opening ceremonies, the awarding rites for the Top-Performing Operating Units—which demonstrated exemplary operational performance for CY 2016—took place. The plaques of recognition were presented to the respective awardees by Vice-Chairman Ernesto C. Gamboa, President/CEO Hubert E. Molina, EVP Emilio U. Rico Jr., AVP/Area Manager Zorina S. Aradanas and AVP/Area Manager Jimmy R. Parongan.

In his Keynote Speech, Dr. Ramon C. Yedra, Deputy Executive Director of the Agricultural Credit and Policy Council (ACPC), expressed ACPC’s solidarity commitment to helping FICOBank in harnessing the full potentials of the cooperatives and the farming sector in addressing the challenges of an equitable and sustainable agricultural development. With the common goals of providing banking access and delivering financial services to the countryside, Dr. Yedra acknowledged the 20 years, and counting, of mutually beneficial partnership between ACPC and FICOBank. He also congratulated the Bank for its growth and success, through the years.

During the plenary session, the Bank’s President/CEO presented the Business Report of the Bank for CY 2016. In his presentation, with emphasis on the event’s theme, President Molina showed that almost 50 percent of the 2016’s total loan portfolio of the Bank has been earmarked for the agriculture sector. The said report was accepted by the august body, with appreciation.

The election of four regular and two independent members of the Board of Directors ensued after the business meeting. Immediately after the votes were cast, four candidates were declared as elected regular members of the Board, namely: Mr. Wilfredo DC. Antonio of the San Manuel Multi-Purpose Cooperative, Ms. Pasencia B. Battung of the Damortis Multi-Purpose Cooperative, Mr. Erwin B. Tabucol of the Village Farmers Cooperative and Mr. Florentino T. Somera Jr. of the Olango Multi-Purpose Cooperative. On the other hand, Ms. Aileen Gale M. Agcaoili and Engr. Jefferson G. Mariano were voted as independent directors.

Mr. Erwin B. Tabucol was elected as the new Chairman of the Board while Mr. Ernesto C. Gamboa remains as Vice Chairman. Chairman Tabucol is a retired LandBanker while Vice-Chaiman Gamboa is a former rural banker.





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