PHILGUARANTEE, Producers Savings Bank ink P1-Billion Housing Retail Guarantee Facility
State-owned Philippine Guarantee Corporation (PHILGUARANTEE) and Producers Savings Bank forged a P1-Billion housing retail guarantee facility, in Ortigas Center, Pasig City.
To formalize the collaboration, PHILGUARANTEE President and CEO Alberto E. Pascual, SVP Teresito Cayo A. Butardo, and VP Michael R. Lagrosas convened with a delegation from Producers Savings Bank. The bank was headed by Chairman Gilda E. Pico, together with COO Andrei D. Cornejo Jr., Vice Chairman Sandra C. Mendoza, SVP Adrian Jean Claude D. Cornejo, and EVP Cenon M. Ladringan.
Outlining the scope of the P1-Billion initiative, SVP Butardo underscored the facility’s vital role in bridging the housing gap for Filipinos. He further highlighted, “Consider what P1-Billion in housing represents—at P1 Million per home, this translates to a thousand housing units, each one a step toward addressing our country’s 6.4 million housing backlog. Modest as it may seem in the face of such a vast need, its contribution is undeniably meaningful. However, extending loans of this magnitude is no small undertaking. It carries with it inherent risk, particularly, the possibility of borrower default. Thus, robust risk mitigation measures are essential to ensure that Banks remain well protected and that loan portfolios stay sound and sustainable.”
Highlighting the synergy behind the partnership, COO Cornejo, Jr. said in his remarks: “Through this collaboration, PHILGUARANTEE strengthens its mission to providing risk mitigation mechanisms where Producers Bank continues its dedication to inclusive banking and community development. Together, we are creating meaningful pathways for individuals and families who aspire to build a secured and stable future.”
PCEO Pascual reaffirmed the Corporation’s steadfast commitment to fortifying housing finance and expanding credit accessibility for the public.
“We recognize the role of the Producers Savings Bank in delivering financial services at a community level. This collaboration allows us to align efforts and extend the reach of our programs to more Filipinos,” he said.
By anchoring this facility in mutual trust, PHILGUARANTEE and Producers Savings Bank are ensuring credit doesn’t just stay available, but stays accessible, even as market conditions shift.
From: Strategy Management and Communications Department
