Producers Savings Bank Corporation (IFC-37418)

  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
  • Philippines
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 25, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 10.87 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. 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, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 29, 2018

Disclosed by Bank Apr 18, 2016

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed 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
Here you can find a list of individual development financial institutions that finance the project.

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.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

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
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.


The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at You can learn more about the CAO and how to file a complaint at

How it works

How it works