Producers Savings Bank Corporation (IFC-37418)

  • East Asia and Pacific
Where the impacts of the investment may be experienced.
  • Philippines
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 25, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 10.87 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 11.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 29, 2018

Disclosed by Bank Apr 18, 2016

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Project Description

The proposed project aims to provide an equity investment in Producers Savings Bank Corporation (“Producers Bank” or the “Bank”) through subscription in newly issued common equity shares of up to PHP510 million (approximately US$11.1 million) or a 19.99% stake to support its expansion strategy to provide more financing and services to SMEs and agriculture sector in the rural areas of the Philippines through organic growth and acquisitions.

Expected Development Impacts
- Agri-Finance: Producers Bank is one of the few banks in the country who has a strong platform to reach the agri-sector. The Bank has strong reach in the rural areas and is planning to expand into the underserved areas of the country. The Bank's strategy is in line with the strategy of WBG and the local government.
- SME: Increased access to finance is indispensable to grow the competitiveness of SMEs. The proposed investment will help Producers Bank accelerate its plans to address the funding gap to SMEs.

Investment Description
  • International Finance Corporation (IFC)

Producers Savings Bank Corporation (formerly Producers Rural Banking Corporation) was founded on November 1995, then known as Producers Rural Bank of San Jose City (N.E.). The Bank became a thrift bank in September 2010. As of end-2015, it has 126 operating branches strategically located in key cities and municipalities all over the country (in Metro Manila and 30 provinces). The Bank’s main shareholder is Mr. Andres M. Cornejo, Founder, Chairman and CEO, who has a 94.2% ownership of the Bank. The remaining 5.8% is owned by other nominees and directors of the Bank.

Private Actors

Producers Savings Bank Corporation provides products and services to SMEs and farmers. The company’s deposit and loan products include savings accounts, ATM savings accounts, current accounts, and time deposits; and SME, crop, livestock, car, and housing loans. Producers Savings Bank Corporation was formerly known as Producers Rural Banking Corporation and changed its name to Producers Savings Bank Corporation in September 2010. The company was founded in 1995 and is based in Pasig City, the Philippines.

Contact Information


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