The Rural Bank of Tandag (SDS, Philippines), Inc. is located at the municipality of Tandag, the Capital Town of Surigao del Sur. The certificate of authority granted on March 8, 1972 by the Monetary Board, Central Bank of the Philippines, Manila. The operation started March 13, 1972.
The bank started with an Authorized Capital Stock of ONE MILLION PESOS (1,000,000.00) Pesos or Philippine Currency or 23,182.45 US Dollars (basing currency converter), divided into 5,000 shares of Common Stock with voting rights and 5,000 shares of preferred stock, both at par value of ONE HUNDRED PESOS (P100.00). It was composed of eight (8) incorporators/ stockholders with five (5) boards of director. THREE HUNDRED THOUSAND PESOS in figure 300,000.00 Philippine Peso or 6,954.7358 US Dollars (basing currency converter) was subscribed capital stock common and had a paid up capital of 200,000.00 pesos. Mrs. Gloria O. Ty was the Treasurer in-Trust until she was elected as President and Chairman of the Board.
Rural Bank of Tandag is Listed in: Bank, Money or Currency Changer | Transfer in PHILIPPINES
In the year 1989, the bank applies for an increase of capitalization in the amount of P4,000,000.00 making the total capital of P5,000.000.00 divided into 20,400 shares of common stocks with voting rights and 29,600 shares of preferred stocks both at par value of PESOS: ONE HUNDRED (P100.00) and was approved last January 30, 1990.
In the year 1994, again the bank applies for an additional increase of capital in the amount of 10,000.00 making the total capitalization of PESOS: FIFTEEN MILLION (P15,000.00)divided into 100,000 shares of common stock with voting rights and 50,000 shares of preferred stock, both at par value of ONE HUNDRED (P100.00), and was approved last October 21, 1996. At present , the bank has Thirteen (13) Stockholders with nine (9) Board of Directors, headed by Mrs. Gloria O. Ty, President and Chairman of the Board.
Mr. Vicente C. Egnora was the first manager until May 1992. The bank’s total resources was THIRTEEN MILLION FIVE HUNDRED THOUSAND (P13.5M) with a total Net worth of ONE MILLION ONE HUNDRED THOUSAND (P1.1M)
Mrs. Azucena L. Auza assume as manager until she retires last January 15, 2002. The bank’s total resources amounted to PESOS: TWENTY SEVEN MILLION (27M) with a total Net worth of PESOS: FIVE MILLION (P5M).
more Information related to Rural Bank of Tandag are as follows
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As of March 31, 2007 the bank’s total resources amounted to PESOS: SIXTY MILLION or in figure 60,000,000 Philippine Peso or 1,390,947.15 USD as of April 7, 2011 conversion basing currency converter with a total Net Worth of PESOS: ELEVEN MILLION FOUR HUNDRED THOUSAND (P11.4M). Presently the bank engaged in Microfinance Loan Program under the supervision of a new Manager Mrs. Carmelita L. Cantalejo.
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