News Highlights

Chairperson's Statement

2021 has been a more complex and challenging year for us at FICOBank, yet it also inspired us to make important strides for our Bank and had revamped our business intents for the coming years. Despite the volatility caused by the pandemic and the extraordinary operational challenges it presented, we remained thankful that we emerged somewhat unscathed and have continued to strengthen our business resiliency. The crisis year taught us many things and forced us to challenge our traditional approaches. It made us become a stronger organization, with better governance beginning from the top. And, as Chairperson of the Board, I am pleased to say that our Bank had, once again, stood the toughest test of time in closing year 2021.

   The strategic actions we have taken during the year have enabled us to continue provide banking services to the communities we serve, with our best way possible. We remained thriving to strike a balance between business continuity and the health and safety of our personnel and clients amid the outbreak of more-transmittable COVID-19 variants. In spite of temporary closures of, and operating at reduced banking hours by, some of our branches, our employees in action work collaboratively to ensure that we continue to serve the needs of our clients.

  Taking the lead role in setting the “tone at the top,” we ensure that all our actions and decisions, together with the Senior Management, are always directed toward long-term value creation. With the uncertain new-normal business environment we’re in, we see to it that FICOBank is resilient against potential risks and well-poised to benefit from the recovering economy.

  The easing of mobility restrictions, reopening of various businesses and boosting of consumer confidence have resulted in higher loan demand to support the financial needs of many individuals and businesses. From Php4.57-billion loan volume that our Bank have posted in 2020, it increased to Php4.72 billion in 2021. We’ve also settled on tempering our credit risk exposure by tightening some of our lending policies during the period in review. Though our Bank’s total outstanding loans had decreased (from Php2.88 billion in 2020 to Php2.83 billion in 2021), a better portfolio quality was registered (from 6.21% in 2020 to 5.94% in 2021).

   During the year, we’ve managed to regain our growth momentum in terms of resources. From Php4.32-billion level at end-2020, our Bank’s total assets grew by Php342.45 million, reaching the Php4.67-billion peak at end-2021. It is also worthy to mention that our Bank continued to improve its deposit-taking operation. In 2021, its total outstanding deposits soared to Php3.05-billion mark, higher by a hundred million from 2020’s Php2.95-billion record. Owing to the strength and success of our business operations for over 45 years now, our Bank was also able to build up a stronger capital base. From last year’s Php1.21-billion level, our FICOBank’s net worth climbed to Php1.32-billion mark. It rose by Php107.49 million or 8.89%.

  Our Bank’s evolving risk management practices and strong financial condition have well positioned us for the economic recovery in 2021. While others have seen this crisis as a stumbling block, we saw it as both a challenge and an opportunity on becoming a more valuable community asset. With it, we are driven more than ever to take into the next level our strategic priorities for growth, our approaches to sustainability, and our values to build stronger mutually beneficial relationship with our stakeholders.

   In closing, I am grateful to my co-directors for your independent judgment and expert perspectives that have been a huge benefit to our Bank. I also convey my sincerest gratitude to the Senior Management for your competent and decisive leadership during these challenging times. To our employees, I extend my appreciation for your dedication and commitment during this difficult period. And to all our shareholders, clients and business partners, thank you for your continued support and trust in FICOBank.





Inter-Branch Deposit Online Money Transfer Western Union Money Transfer GCash Money Transfer Project i2i
Board of Directors Senior Management Treasury and Corporate Services Group Operation and Banking Services Group Northeast Luzon Area Northwest-Central Luzon Area