The Development Bank of the Philippines (DBP) recently approved a P20-million revolving credit line to Gateway Rural Bank, Inc., or Gatebank, as the bank is more commonly known. Said loan is in furtherance of DBP’s thrust of promoting countryside development as Gatebank primarily extends rural credit to small farmers and tenants, and to qualified rural industries and enterprises.
Gatebank was founded on February 14, 1997, and started operations on May 27, 1997 in its first banking unit located in Balagtas, Bulacan. In addition to its head office, the bank now operates 10 branches in Balagtas, Bustos, Malolos, Norzagaray, Pandi, Plaridel, Pulilan, San Ildefonso, San Jose del Monte, and San Rafael, making it the biggest rural bank in Bulacan.