Local Financial Institutions

1. Banks
Banks refer to entities engaged in the lending of funds obtained in the form of deposits. In the city, there are 13 commercial banks, 2 rural banks and 1 savings bank. The complete list of the banks in the city is shown in Table.

Commercial, Rural and Saving Banks
BANK NAME
ADDRESS
COMMERCIAL BANKS
BANK OF THE PHILIPPINE ISLAND-MARBEL GENSAN DRIVE, ZONE II
PHIL. BANK OF COMMUNICATIONS GENSAN DRIVE, ZONE III
PHIL. NATIONAL BANK CASA GEMMA BLDG., GENSAN DRIVE, ZONE II
LAND BANK OF THE PHILS.- KORONADAL AQUINO COR. ABAD SANTOS, ZONE III
ALLIED BANKING CORP.- KORONADAL GENSAN DRIVE, ZONE III
UNMERCHANTS SAVINGS & LOAN ASSO., INC. SAMAHANG NAYON BLDG., ROXAS ST., ZONE II
RIZAL COMMERCIAL BANKING CORPORATION GENERAL SANTOS DRIVE, ZONE III
LAND BANK OF THE PHILS - MORALES GENSAN DRIVE, MORALES
BDO - KORONADAL BRANCH ALUNAN AVE., ZONE I
METRO BANK & TRUST CONPANY - MARBEL GENSAN DRIVE, ZONE III
PHILIPPINE NATIONAL BANK A. MORROW ST., ZONE III
DEVELOPMENT BANK OF THE PHILS. ALUNAN AVENUE, ZONE IV
RURAL BANKS
ONE NETWORK BANK ALUNAN AVENUE, ZONE II
RURAL BANK OF KORONADAL., INC. ALUNAN AVENUE, ZONE IV
SAVING BANK
PENINSULA RURAL BANK, INC. ALUNAN AVENUE, ZONE II


2. Local Insurance Agencies/ Branches
There are 16 life and non-life and 7 pre-need insurance companies in the City of Koronadal as presented in Table 38. These companies offer protection from the consequences of financial loss from death, accidents, sickness, and damages to properties. Injuries caused to others and any other predictable losses.

3. Other Credit Institutions
Based on the Business Permit and Licensing Office (BPLO) of the City of Koronadal, there are 77 financing and lending institutions operating in the city in 2006. These entities provide financing for personal and business use.

Pawnshops also abound in the city. Per BPLO records of 2006, there are 15 pawnshops with capitalization or gross income of less than P200, 000.00 and 31 pawnshops with capitalization or gross income of more than P200, 000.00.

The City Government through the Project Implementation, Monitoring and Evaluation Office (PIMEO) provides loans ranging from P 2,000.00 to P10, 000.00 per applicant. The loan is payable in six months to one year at 0% interest. Table 39 shows the total number of beneficiaries for the years 2003 to 2004 and 2005 to 2006.