The Planters Development Bank (Planters Bank) will be expanding its loan portfolio from
over P15 bn last year to P19 bn.
The increase will allow the bank to introduce consumer finance products while at the same time increase its lending to small- and medium-sized enterprises (SMEs).
According to Planters Bank president and chief operating officer Ma. Flordelis F. Aguenza However, 80 per cent of the loans will be devoted to SME lending, the bank’s main client base.
"We are very bullish this year," Aguenza said, adding that they are looking at a 10-per cent
increase in asset growth this year.
Last year, the bank notched a P400 m net income from P207 m in 2003. In 2002, it was a mere P150 m. Return on equity was recorded at an impressive 18 per cent while non-performing loan (NPL) ratio remains a low 9.8 per cent of total loan portfolio.
