FIRST KAPAMPANGAN and third woman president of the Rural Bankers Association of the Philippines (RBAP), her 2020-2021 incumbency could not have come at a worse time – Covid-19 at its dreariest, deadliest worst – immediately earning her the designation “pandemic president.”
Unfazed, Elizabeth Carlos Timbol took the challenge squarely, her being born and raised in countryside banking and her personal advocacies rising to the fore in the 3-point agenda of her presidency: strengthening programs for rural banks, capacity building and digitalization, and women empowerment. Their application specially targeted at farmers and the MSMEs.
The Asia Leaders Awards’ Woman of the Year for Countryside Development in 2021 makes a fitting testament to her leadership of the RBAP and an affirmation of her continuing contribution to the socio-economic uplift of rural communities, having been bestowed the same recognition in 2019.
Past the presidency, Ms. Timbol assumed the chairmanship of the Rural Bankers Research and Development Foundation. Inc where continued her agenda of service, establishing and enabling RBAP’s new generation of bankers aged 40 and below to solve the concerns of succession planning of rural banks in the country.
A most significant achievement was her successful organization and delivery of impactful webinars to rural banks, providing them with valuable knowledge and insights. Equally noteworthy was her leading the crafting of generic manuals that served as helpful guideposts in the rural bankers’ day-to-day operations.
In 2023, the Italian Chamber of Commerce Leadership Award’s Woman in Business of the Year was bestowed upon Ms. Timbol.
For 2024, Ms. Timbol serves as a trustee of RBRDFI and committee chair for training, and RBAP director and committee chair for compliance and internal audit, upholding continuous professional education and training for all rural bankers.
Fittingly, the poster girl of rural banking – with her 33 years in the business principally contributing to GRBank consistently ranking Number 1 family-owned bank in the country.
GRBank has long grown from the typical deposit-withdraw-loan-on-the-side system of rural banking into diversified financial products and services previously the exclusives of commercial banks, like dollar deposits, and even lending up to P350 million to single borrowers owing to its high securities-based lending.
A core service of the bank is the promotion of financial literacy among its clientele, especially those in the agriculture sector to help them “save wisely or invest their hard-earned money and capacitate them to keep everyone well-fed.”
Beyond banking, Ms. Timbol served as president of the Metro Angeles Chamber of Commerce and Industry, Inc. where, again, she proved her leadership excellence: The premier business organization hailed as Most Outstanding Chamber in the Philippines (Region Category) for two consecutive years, 2022 and 2023. With no less than President Ferdinand E. Marcos Jr. himself handing the recognition to her during the 48th Philippine Business Conference and Expo at The Manila Hotel, on Oct. 20, 2022.
MACCII was cited primarily for its advocacies for countryside development, principally in mentoring start-ups hewing to its advocacy: It’s SIMPLE — Sustainable, Inclusive, Mentorship, Partnership, Linkages – to be MACCII.
A countryside mindset, Ms. Timbol says she has kept ever since, be it in banking or in every business organization she has found association with. “I support empowering the countryside and develop inclusiveness in matters of development.”
“We can make Pampanga as an alternative place to do business outside of Metro Manila other than Batangas and Laguna. More investors mean greater income, more success, and more opportunities will open and continue for entrepreneurs resulting to higher employment,” she says with bullish confidence.
As we prepare to close this article, some breaking news – Ms. Timbol has been hailed “Asia’s Influential and Inspirational Female Business Innovator” at the Asia’s Influential Leader Awards held Feb. 16 at the Grand Ballroom, Okada Manila.
The business icon shines on. The Editor
