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PIA Press Release

Planters Bank to open 72nd branch in Tagum City

by Prix D Banzon

Davao City (13 November) -- The Planters Bank, a development bank operating for 30 years, will open its 72nd bank in Mindanao before the year ends. It will be their 5th in the island.

The bank's president, Maria Flordelis F. Aguenza in an interview said they will open their new branch in Tagum City where their prospect clients are the banana growers.

Aguenza was in Davao City for a management lecture for SMEs hosted by Plantersbank with Francis J. Kong as resource speaker who talked on "Leading through Difficult Times" held at the Apo View Hotel on November 11, 2008.

Aguenza said they will be offering special farming package that has not been done before to the farmer-growers even as she said that they will be following a formula and forge agreement between them and the grower.

She said the Plantersbank had been in partnership with the SME community and they had an estimated 30,000 SMEs that were assisted by the bank through loans with total exposure of P25 billion. The bank's assets is estimated at P44 billion, she said.

As far as Mindanao is concerned, Aguenza said their bank believes in the capability of the island of which their presence is also felt in General Santos City and Cagayan de Oro City.

She said the business prospects of Mindanao remain positive and they are determined to make their contribution to its success as it shares the vision of a progressive, prosperous city that teems with social and economic opportunities.

"We think this vision can be achieved by promoting entrepreneurship, which is the driver for creating new jobs, improving people's incomes and providing a better quality of life for all," she said.

She said they had developed new products and services to improve opportunities, especially of SMEs working for corporate supply chains, the homegrown franchise and trade, food processors and those in business-related services.

She said they will be working closely with the Mindanao SME community to design and deliver customized financing, wealth management services, business solutions and infrastructures as part of their mission of Enabling Entrepreneurs. (PIA) [top]

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