Insular Rural Bank, Inc. 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 Majalco Group, through its realty arm MJ Realty Holdings, Inc. It currently services the areas of Bonifacio Global City in Taguig, Metro Manila, Cainta, Rizal, City of San Fernando, Pampanga, Baliuag, Bulacan and Calamba City, Laguna. The bank’s branch network will eventually expand to Quezon City, Pasig City and Navotas, all in Metro Manila after its recent acquisition of a rural bank based in Metro Manila.
The Bank offers various bank product lines ranging from loans to deposits. It is actively engaged in auto and bus loan financing. It also caters to the needs of small and medium enterprises (SMEs).
The Bank was granted authority to operate Foreign Currency Deposit Unit (FCDU) by Bangko Sentral ng Pilipinas on September 28, 2009 pursuant to Monetary Board (MB) Resolution No. 1335 dated September 17, 2009, and authority to accept or create Demand Deposits on January 30, 2012.
Insular Rural Bank, Inc. is backed up by the financial resources and business experiences with enviable track records of a conglomerate consisting of Malayan Bank, Unicapital Investments, Unicapital Securities, Unicapital Finance, Uniguarantee Insurance Brokerage, MJ Realty Holdings, ACME Pawnshop, ACME Jewelry, among others.