Wednesday, September 07, 2005
Plantersbank signs APEC Pact on SME Finance Cooperation
Planters Development Bank recently signed the Memorandum of Agreement as the newest member of the Group of Asia-Pacific Economic Cooperation (APEC) Financial Institutions Dealing with Small and Medium Enterprises during their second annual conference in Beijing, China.
The association, now comprising 13 Asian state-owned and private banks, was launched in Thailand in 2003. Its purpose is to foster cross-border financial and technical collaboration for an SME-friendly business environment in the Asia-Pacific Region. Plantersbank, the country’s leading bank for small and medium enterprises, is the only Philippine member bank in this prestigious regional group.
Plantersbank chairman and chief executive officer Ambassador Jesus P. Tambunting was invited by the China Development Bank to address the conference. Ambassador Tambunting’s presentation focused on Plantersbank’s practices and experience in shaping a market-driven and profitable model in SME finance.