Through the strong recommendation of Maybridge Asia, Inc., FICOBank was chosen by Bridge, an international resource provider and builder of better banks, as one of the potential partner countryside banks in the Philippines, as it meets the latter’s eligibility criteria for a partner bank.

On July 26, 2011, Mr. Angus “Gus” Poston, a representative of Bridge, visited FICOBank for an exploratory talk (at a “no-commitment-yet” basis) on the proposed terms of partnership. By the way, Mr. Poston is a former Strategy Head of Barclays’ credit card company, a banking consultant and investor, and a specialist in investment, product development, innovation and cost control. He is part of Bridge’s experienced team, which has detailed and practical experiences with many of the world’s top banks. His team knows how to grow banks rapidly.

In his presentation, which was attended by the Bank’s Chairman of the Board, President & CEO, Executive Vice President & COO, Senior Vice Presidents and Department Heads, Mr. Poston described the state, trends, challenges, opportunities and future needs of the countryside banking industry in the Philippines vis-à-vis the other countries in Asia. As discussed, the industry is entering in a difficult, but interesting, stage. Countryside banks need to transform themselves rapidly. Bank owners will need to provide more capital, though the returns on their investments are falling. But the market provides tremendous opportunity for the industry’s growth.

The Bank’s representatives found the discussion useful and stimulating, particularly on the well-defined approach of Bridge to help the partner countryside banks thrive, grow and lead in these difficult times. The Bangko Sentral ng Pilipinas urges rural banks, coop banks and thrift banks to prosper; if not, they’ll perish. Bridge intends to transform partner banks into banking champions—reaching more people and creating more jobs—by providing: platform to attain economies of scale; customized program to build the capabilities required to manage and control growth; capital to support the accelerated growth model; and support in the consolidation or acquisition of banks. The next immediate steps of the proposed partnership, which will be done in five months, were also discussed.

As FICOBank is firmly focused on its 2011-2015 transformation journey, it ought to: select a reliable partner that could help it reach its planned corporate destination; acquire the needed capital and expertise to execute its strategies for transformation; and grow fast into a new breed of a countryside banking institution—as a corporative thrift bank—built to last and able to make the most out of the opportunities. And, in searching for a fit resource partner, FICOBank finds Bridge.