PHILGUARANTEE, Rizal Microbank, Inc. to boost MSME growth
State-owned Philippine Guarantee Corporation (PHILGUARANTEE) and the Rizal Microbank, Inc. – A Thrift Bank of RCBC forged a partnership to extend financing opportunities to generate livelihood, while creating better life for every Filipino and driving economic growth in rural areas.
“This partnership represents a significant step forward in ensuring the financial sustainability of the sectors we serve, primarily for the MSME sectors, as PHILGUARANTEE have agreed to provide a guarantee cover of a portion of the outstanding principal of the loan, along with a payment of claims up to the guaranteed obligation of the covered loan portfolio,” PHILGUARANTEE President and CEO Alberto E. Pascual said in his remarks during the signing ceremony held Friday, February 14, 2025, at the PHILGUARANTEE Headquarters in Makati City.
PCEO Pascual was enjoined by Rizal Microbank, Inc. President Simplicio B. Dela Cruz Jr., Senior Vice President Retail Lending Department Head Emeilta B. Rocero, Vice President, Corporate Planning and Strategic Projects Head Joseph Daniel Lumain, Marketing and Communications Head Vanessa Arconada, and General Accounting Corporate Unit Head Majeas Alfonso.
PHILGUARANTEE Senior Vice President Celso R. Gutierrez and Vice President Raymund V. Togonon represented the Priority Sector Guarantee Group.
In his remarks, President Dela Cruz Jr. expressed: “I hope this collaboration between the two institutions will convert in helping the bank extend line or credit facility to our clients and borrowers particularly in the countryside”. We also hope that this will improve later as we manage our provisioning because of the guarantees you are providing us.”
For his part, SVP Gutierrez lauded the partnership, noting PHILGUARANTEE extends its support to share the risk with the thrift bank, while giving opportunity to individuals in the countryside.
The guarantee agreement underscored a significant milestone towards strengthening financial resilience and expanding opportunities for businesses, particularly in underserved communities, while fostering sustainable economic growth.
From: Strategy Management and Communications Department
