897-9046 local 202 to 203

  897-9046 local 202 to 203

Chairman Message


Love and Solidarity in the Cooperative Movement!

To our beloved Cooperatives – Federations – Unions – Associates - Owners of MSCB, Greetings of Peace!

In the name of the Board of Directors, the President and the Management staff, I warmly welcome you to our 22nd General Assembly.

Our theme for this year’s General Assembly is: “COOP-NNECTION: KEY TO THE FUTURE.” As you will notice, our focus is the future. While our past gives us valuable lessons, and our present offers us a realistic situation, our future provides us possibilities. We have to look forward. We have to look to the future.

In this regard, sometime during this Assembly, we are going to launch our IT modernization plan which we hope will transform MSCB into a digital bank that uses the latest innovation in technology. With this we hope that MSCB will be able to offer a wide range of electronic products and services. Distance will no longer be an obstacle to our transactions, and neither would time be.

Last year we launched our innovative Ownership Pledge Program. This was to show to our members and shareholders the reality that they are indeed the owners of Metro South Cooperative Bank, and at the same time to encourage them to support MSCB as it embarks on catering more to Cooperatives rather than to non-coops. Like any other new program, the OPP has experienced a lot of bumps along the way, and our projected results have not yet been materialized. We have adopted certain amendments to the OPP as a result of our meetings with our cooperative members in different places and at different times in 2017. We are hoping that in the second year of the OPP more cooperatives will realize that the OPP is actually good for them, good for MSCB, and good for everyone.

Likewise, our plans for merger have not yet been realized as we had expected due to some new requirements and demands from the BSP. But all the three constituent banks have not stopped working hard on this. Sometimes we get frustrated by the slowness of the process and the tendency to give up on this dream and even on each other has come in very strongly. But we are inspired to keep working more so because there are other coop banks who have shown interest in merging although we had been advised by the BSP to finish first the original plan for merger by the three banks.

I am very happy to announce to you that for the year 2017 our net income has amounted to 18.73M Pesos. Compared to 2016, this is an increase of 2.59M Pesos. Our CAR (capital adequacy ratio) is 18.42%. This is higher than the standard for the industry which is 15%. For more of the financial reports, kindly look at the joint report made by the President and the Chairperson to our Shareholders.

I like to tell you that the year 2017 has been a busy year for all of us, both the Management and the Board and the different Committees. We had to come up with all the manuals and reports required of us by the BSP, and these requirements come to us almost every week. In spite of all these, we came out more determined than ever to continue working for MSCB and its owners-shareholders. Serving you is our mission. Working for you is a blessing.

To God be the glory. Thank you!

Fr. Serafin F. Peralta
Chairman, Board of Directors