RCBC Savings Bank


RCBC Savings Bank promotes SME growth

July 30, 2018

Michael Ricafort, RCBC’s Head of Economics and Industry Research Division

Over seventy entrepreneurs attended the recently held Grow SME forum last June 20 in Cauayan Isabela, to listen to industry experts talk about the entrepreneurial mindset and how to make it happen.


Organized by RCBC Savings Bank (RSB), the forum is in its third mentoring session which started in January.


In a briefing given by Michael Ricafort, RCBC’s Head of Economics and Industry Research Division, it was revealed that Isabela is the country’s biggest corn-producing, and second biggest rice-producing province. It is the most populated province in the region 2 and the leading province in terms of bank deposits, loans and bank branches. It has great potential to develop further its economy in the coming years with increased household incomes and spending power, which supports the growth in real estate construction, retail trade, food & beverage, agriculture, tourism, transportation, communication, education, financial services and other allied industries and services, especially those that benefit from increased consumer income and spending.


Recognizing the potential of the region, industry expert and advocate of entrepreneurship, Mr. Jorge Noel Wieneke, endeavored the right entrepreneurial mindset to take advantage of opportunities that the region has to offer.  Being an entrepreneur himself, he shared his interesting journey from being a start-up business to now being a franchisor of his own brand.


To further boost the capacity of SMEs, RSB tackled how the bank supports their businesses such as maintaining a deposit account, availing of cash management services, and acquiring a business loan.


GrowSME is one of the new flagship programs of RSB that aims to mentor the nation’s leaders and entrepreneurs in order to promote the SME industry.

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