Deposits are insured by PDIC up to P500,000 per depositor
Agricultural Bank of the Philippines, Inc. (formerly Central Equity rural Bank, Inc.) was incorporated in the Philippines on February 28, 1997 and started commercial operations on March 14, 1997 primarily to engage in the business of extending rural credit to small farmers and tenants and to deserving rural industries and enterprises; to do and perform all acts and to transact all business which may legally be done by rural banks organized under and in accordance with RA 7353 (Rural Bank Act of 1992) as it exists or may be amended; and to do all other things incidental thereto and necessary and proper in connection with said purposes within such territory, as may be determined by the Monetary Board of the Bangko Sentral ng Pilipinas.
Formerly a subsidiary of Stateland Inc., the Bank was acquired by a new set of investors on July 22, 2010, with the intention of owning and operating a bank to help promote safe and sound agricultural lending- in addition to other types of consumer, residential, and commercial financing and consequently make a positive contribution to the food sufficiency in the Philippines. On March 20, 2012, the Bank changed its name from Central Equity Rural Bank, Inc. to Agricultural Bank of the Philippines, Inc.
The ABPI was established with the intent of catering to business and household customers in the countryside to promote food sufficiency and contribute to increasing income, employment and production in the agricultural sector and the Philippine economy as a whole. In line with this mission, the bank’s products and services are currently geared towards providing credit finance to the farm sector under the government’s Agri-Agra Lending Program, granting loans for Farm Equipment and Land Acquisition, and extending credit facilities for agri-producers and farmers, micro-businesses, (including barangay micro enterprises), housing, transport facilities such as motorcyles and other credits to eligible borrowers in the rural areas.
The Bank’s registered address is 121 Don P. Campos Avenue, Dasmarinas City, Cavite.