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Aising the Bar to Create Opportunities

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Aising the Bar to Create Opportunities 2017 ANNUAL REPORT aising the Bar To create opportunities years after TAO Corp. took-over 722 Years from the date of establishment Prayer of Serenity God, grant me the serenity to accept the things I cannot change; Courage, to change the things I can: and Wisdom to know the difference… In Jesus Name, Amen. Let each of you look not only to his own interests, but also to the interests of others. Philippians 2:4 (ESV) CONTENTS 01 2017 IADB Theme 02 About Us 04 Vision, Mission and Core Values 05 Corporate Policy 06 Message from the Chairman, President & CEO Financial Conditions & Results of Operations 09 Financial Highlights 11 Risk Management Framework Adopted 12 Anti-Money Laundering & Governance Culture 13 Corporate Governance 23 Corporate Information 24 Consumer Protection Practices 25 Products & Services 26 IADB’s Client as “Youth Entrepreneur of the Year” 28 Appreciation & Awards 2017 29 Board of Directors and Profiles 35 Organizational Chart 36 Our Team 37 IADB Management Team in Action 38 IADB Management Committee 39 Senior Management Profile 41 Independent Auditor’s Report—Financial Statements 49 Employee’s Activities 51 Employee Engagement & Empowerment 53 Mentoring & Creating Opportunities for our Clients 54 Community Engagement Let each of you look not only to his own interests, but also to the interests of others. 55 Our Commitment to Serve Philippians 2:4 (ESV) 56 BSP Advisories 2017 IADB THEME Raising the Bar to Create Opportunities Inter-Asia Development Bank (IADB) believes in the virtue of Altruism (Kapwa muna bago sarili). The company’s continuous growth can be attributed to its passion, integrity and commitment to serve. It has likewise raised consistently its standards to provide for its clients, employees and other stakeholders, excellent and efficient banking services. The Bank shows how it values its clients by providing convenient, innovative and applicable products/services to suit their needs. The Bank also supports its clients by encouraging them to participate in government and private initiated programs that will contribute to the success of their businesses. IADB gives importance to its employees by empowering and providing them the appropriate benefits as Bank Management believes in the quotation that the “Bank doesn’t build a business, it builds people and people build the business”. IADB on a regular basis, sends its employees to trainings and seminars related to banking and work functions to improve their knowledge professionally and broaden their horizon. The Bank also provides equal importance and opportunities to employees’ families as they are given the chance to attend Bank activities (family day, Christmas celebration). On-the job trainings on bank’s operations are also offered by IADB to students that are studying in the local schools and colleges within Tagaytay City Area and candidates for accounting, business administration, information technology and other business related college degrees are given the opportunities to build-up the trainee’s character and prepare them for employment and higher responsibilities upon graduation. 1 IADB ANNUAL REPORT 2017 ABOUT US NTER-ASIA DEVELOPMENT BANK (IADB) was incorporated and registered with the Securities and Exchange Commission on May 14, 1996 and started commercial operations on May 21, 1996 upon Iissuance by the Monetary Board of the Bangko Sentral Ng Pilipinas (BSP) of authority to operate as a thrift bank to provide deposit, lending and remittance services to retail customers, farmers and tenants, and other meager income earners. As a banking institution, the Bank’s operations are regulated and supervised by the BSP. In this regard, the Bank is required to comply with the rules and regulations of the BSP such as those relating to maintenance of reserve requirements on deposit liabilities and those relating to adoption and use of safe and sound banking practices as promulgated by the BSP. The Bank is a subsidiary of Tao Corporation (Parent Company) who obtains control over the Bank arising from its substantive rights and ability to direct the relevant activities of the Bank since 2010. The Parent Company is a company incorporated and domiciled in the Philippines. The primary purpose of the Parent Company is to generate, develop, promote and enhance all kinds of investment opportunities and to provide management services, advices and counsel to other enterprises. The registered office of the Parent Company which is also its principal place of business is located at 2nd Floor, TAO Corporate Center, 2291 Don Chino Roces Avenue, Makati City. OUR LOGO Author: Unknown IADB ANNUAL REPORT 2017 2 Head Office and Main Branch Address: J.P. Rizal Avenue, Mahogany Market, Kaybagal South, Tagaytay City, 4120, Cavite, Philippines 046) 483-2810, 483-2811, 413-0022 www.taocommunity.com www.interasiabank.com [email protected] Inter-Asia Development Bank Tolentino Branch Address: Public Market Road, Tolentino East, Tagaytay City 4120, Cavite, Philippines (046) 483-0301 3 IADB ANNUAL REPORT 2017 OUR VISION e are a community development bank that provides relevant financial services to families, enterprises, and communities through financial empowerment and inclusive social responsibility. Financial empowerment is defined as access to capital and banking services through W financial inclusion, literacy and discipline. Inclusive social responsibility includes responding to community needs in food, shelter, energy, education, healthcare, livelihood, and protection through financial services. We work for access to sustainable programs and services through a robust financial infrastructure (distribution, collection, remittance, etc.). OUR MISSION nter-Asia Development Bank helps build a community where everyone trusts and relies on each other’s strengths enabling everyone to reach their full potential and do the work each loves. IInter -Asia Development Bank passionately serves its clients to deliver superior value in their lives and believes there is always a better way to do well. Inter-Asia Development Bank positively contributes to the quality of life of its employees and provides them a fulfilling, challenging, and meaningful work environment. Inter-Asia Development Bank justly governs its responsibilities to its stakeholders by committing to develop effective leaders, dealing fairly with partners and regulators, and producing honorable profits for its owners. OUR CORE VALUES Altruism (Kapwa Muna Bago Sarili) Gratitude (Pasasalamat) Entrepreneurial Passion (Malikhaing Pag-iisip at Dedikasyon) Courage (Lakas Loob) Humility (Pagpapakumbaba) Integrity (Karangalan) IADB ANNUAL REPORT 2017 4 CORPORATE POLICY As a development bank, the Bank’s focus will be to service the financial and working capital needs of microfinance enterprises and small and medium enterprises to expand and improve further their financial empowerment which will enable them to access to capital and banking services through financial inclusion, literacy and discipline. The Bank aims to achieve this Corporate policy/vision by the following initiatives to meet the expectations of Bank customers and stakeholders as well by: > Continuous review and revision of Bank’s policies and procedures to align these with the existing regulatory requirements and market practices; > Development of new products and services to meet the needs of customers and to be at par and competitive with the products and services of peer banks; > Opening of additional branches in key areas to establish the presence of IADB and service the financial requirements of clients of the TAO Group of companies; > Regular training and attendance in seminars by key IADB Officers and employees to enhance their knowledge in banking operations and industry standards; and > Possible tie-ups with qualified investors to improve the operations and business of the Bank through technological advancements. 5 IADB ANNUAL REPORT 2017 MESSAGE FROM THE CHAIRMAN, PRESIDENT & CEO Financial Conditions and Results of Operations REVIEW OF OPERATIONS DEAR STAKEHOLDERS, Branch and Commercial Banking We are pleased to report to you that 2017 was a The Branch and Commercial Banking Group had remarkable year for Inter-Asia Development Bank. sustained the deposit and loans business of the Bank that We continue to improve our business operations contributed to the 2017 good performance of the Bank. and have sustained our competitiveness despite the The growth of 40.2% in 2017 or PhP70 million in the de- emergence of new market players in our areas. posit level of the Bank (PhP243 million) had provided the necessary funds to support the increase in bank’s loan The 6.7% growth in the Philippine economy supported portfolio of PhP216 million from the PhP165 million 2016 the financial performance of the Bank. We expect loan level. The increase in savings deposits and time continued growth as we explore avenues, and seek deposits accounted for the 40% growth of PhP70 M in the opportunities that may arise from the government’s deposit level of the Bank in 2017 through the following aggressive “Build, Build, Build” infrastructure programs. initiatives by the Branch and Commercial Banking Group: This is further supported by the additional capital infusion provided by our stockholders, which actually Opening of bank deposit account by loan was a requirement to meet the approved capital build-up borrowers program by the Bangko Sentral ng Pilipinas. Offering of competitive Time Deposit Rates to The Bank’s full year 2017 operations had resulted in: valued
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