News Highlights

The FICOBanking Way in 2021

The Philippine economy continue to face multiple drawbacks and challenges in 2021, as it navigates its path through recovery. Despite occasional COVID-19 flare-ups, volatile economic condition and geopolitical conflicts, the economy regained its momentum and bounced back in the third and fourth quarters of the year. On top of that, the Bangko Sentral’s oversight on policy measures and regulations supported the country’s pursuit in recovering from the lethal effects of the pandemic that is still continuously causing distress to most businesses and the banking sector, accordingly.

   For us, at FICOBank, we were also confronted by various conflicts caused by the challenging year 2021. But in spite of what seems to be endless problems and barriers along the way, rising to the challenge has always been in our corporate DNA. Our strong business continuity and resiliency in place, as well as our team efforts and preparedness, is what helped us go through the second year of pandemic with positivity and vigor.

  In the backdrop of a recovering economic environment, record profitability was not our high point for the year 2021. Nevertheless, FICOBank still wrap up the year quite well, with Php130.97-million bottom line. In reference to the Php126.00-million whole-year target on the same, our Bank has an operational performance rating of 103.43%.

   I am glad to mention that more individuals and businesses have opted to put their untapped savings to our Bank during the year, making our deposit level rose to Php3.05 billion at end-December 2021. Our capital base continue to grow as well, from previous year’s Php1.21-billion record to Php1.32-billion mark this year.

   As vulnerability to imminent risks may happen at any given time, our Board of Directors and Senior Management, as well as our lower echelons of management, have been prudent in making their respective decisions and actions. For the period in review, we continue to be vigilant on our lending operation and our policies on credit-granting and borrower-selection remained tight. We’ve also enhanced our independent credit review process and had conducted credit risk assessment on our loan facilities.

   As part of our continuing saga in network expansion, we established in March 2021 our Bank’s 38th operating unit in Cabatuan, Isabela. Surely, with our ongoing investments in technology and introduction of new capabilities supporting our existing and planned banking units, we will certainly strengthen further our Bank’s ability to serve better our customers’ changing needs.

  We conducted during the year our Strategic Planning for 2022-2026 to redefine our strategic pursuits for the next five years. And eventually, we have settled in steering our Bank’s direction toward (i) customer centricity, (ii) hybrid banking (a combination of digital and brick-and-mortar facilities, making services more accessible to clients), and (iii) technology-enabled system and information infrastructure, among others.

   Anchoring to our winning ways as a community bank and culture of shared values, our theme—“Sustaining the Resiliency of FICOBank in the New Normal”—had truly reverberated across our organization throughout the year. And with the lessons that we’ve learned from the past, along with our Bank’s financial strength and business resiliency that are truly pinagtibay ng panahon, I am confident that we can continue to support our clients and other stakeholders from one crisis to another.

  On behalf of the Management, I extend my special thanks to our Board of Directors, whose guidance and vision have always been invaluable. And for what has been in 2021, we thank you—our shareholders, officers, staffers, funders and customers—for the unceasing trust and support you have for FICOBank.





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