Insular Savers Bank, Inc. ( A Rural Bank)

Insular Rural Bank, Inc. (Insular Bank) was granted authority to operate by Central Bank of the Philippines (now Bangko Sentral ng Pilipinas) on January 22, 1997 pursuant to Monetary Board (MB) Resolution No. 1039 dated October 2, 1996. It was incorporated on January 20, 1997 and formally started operations on February 14, 1997 with an initial capital of P8.000 million. The Bank was founded by the Majalco Group, through its realty arm MJ Realty Holdings, Inc. It currently services the areas of Bonifacio Global City in Taguig City, Makati City, Quezon City, Navotas, Cainta, Rizal, City of San Fernando, Pampanga, Baliuag, Bulacan, Calamba City, Laguna, Jaro, Iloilo City and Legazpi City, Albay. It plans to put up more branches nationwide. Insular Bank has acquired, by consolidation, the Filipino Savers Bank Inc. on December 2011. The consolidation was approved by the Monetary Board in its Resolution No. 1542 dated 19 September 2013 and It was granted authority by Securities and Exchange Commission (SEC) to operate as Insular Savers Bank, Inc. (A Rural Bank) on January 22, 2015. The Certificate of Authority to operate as consolidated bank was then issued by the Bangko Sentral ng Pilipinas on February 17, 2015. The Bank was acquired by Philippine Business Bank on June 30, 2015 Insular Bank is backed up by the financial resources and business experiences with enviable track records of a large conglomerate consisting of Zest-O Corporation, Zest Airways, Semexco Mktg. Corp., Harman Food Phils., Inc., Pharma-Rex, Macay Holdings, Inc., Mazy's Capital Inc., Arc, Refreshments Inc., Amy Holdings, Inc. Arc Holdings, Inc., SMI Dev't. Corp., Mega Asia Bottling Corp., among others. Insular Bank is one of the most stable, fast-growing and best managed banks in the country. It is one of the very few banks in the country which obtained a high CAMELS rating of Bangko Sentral ng Pilipinas (BSP) for two consecutive examinations, which indicates that the bank is fundamentally sound, compliant with BSP rules and regulations, and requires minimal supervision.