Producers Savings Bank Corp. has agreed to provide financing to Katipunan Banking Corp. to support lending and economic activity in Mindanao.
The two lenders signed the loan agreement in Dipolog City on Aug. 6, targeting businesses and communities in the Zamboanga Peninsula, or Region 9. The size and terms of the financing were not disclosed.
“This strategic alliance reflects our shared commitment to empowering local communities and fostering growth across Region 9,” Producers Bank said in a social media post.
The Zamboanga Peninsula covers the western part of Mindanao, with Pagadian City serving as its regional center.
The partnership brings together Producers Bank, the country’s ninth-largest thrift bank with ₱46.91 billion in assets, and Katipunan Bank, which ranks 23rd among rural banks with ₱3.02 billion in assets.
Producers Bank said the tie-up would help strengthen access to financing for businesses and individuals in the region.
