Rural Bank of Tagum is the first bank in the frontier of Tagum (the old name was Magugpo), then the capital of Davao del Norte. It was inaugurated on February 6, 1960. The Owner then was H.R. Lopez and Sarmiento. And since then its resources grew effectively servicing the needs of thriving residents of the community.
In July of 1981, new life was given to the bank when a group led by a seasoned banker, Mr. Reynaldo “Boy” Reyes, acquired the bank from previous stockholders, which at the time had a resource base of P1.2Million. Since then, Rural Bank of Tagum has established its rightful place in Davao Province’s premier town and continues to hold its own in the banking community.
The early 90’s witnessed a revitalizing economy culminating with liberalized banking laws and in 1995 allowing the entry of foreign banks and the opening of new commercial and rural banks. Amidst this dynamic environment, Tagum Rural Bank strengthened its presence in the traditional as well as emerging markets.
In 1997 and 1998, Rural Bank of Tagum exerted greater efforts and expanded within key locations in Davao del Norte, Davao del Sur, and Davao Oriental towards serving the middle market and low-end entrepreneurs, in addition to the traditional market niche it had carved for itself. And in 1997, with the approval of BSP and SEC, the bank eventually carried the new name TRuBANK. TRuBANK undertook strategically imperative moves, the benefits of which are now being realized and will continue to have a long-term impact on public awareness for the bank.