Pueblo de Panay Township, Roxas City -- Pueblo de Panay, Inc. (PDPI) and the Philippine Business Bank (PBB) signed a loan agreement last September 12, 2017, at Circulo Convention Center in Pueblo de Panay. This partnership is expected to support further developments in PDPI’s flagship project, Pueblo de Panay Township.
Pueblo de Panay Township is the largest township development in the Visayas Region of the Philippines. A 500-hectare flagship project of Pueblo de Panay, Incorporated (PDPI), it was master planned by Surbana Jurong, a Singaporean government-owned consultancy company focusing on infrastructure and urban development. It is a mixed-use, master planned, and Filipino-inspired township located in the Seafood Capital of the Philippines, Roxas City. With designated areas for different uses seamlessly integrated to one another, Pueblo de Panay Township is a place where people can live, work, relax, and have fun; a place that embodies PDPI’s advocacy – LIFE.WORK.BALANCE.
PBB, on the other hand, was incorporated as a Philippine corporation and registered with the Securities and Exchange Commission (SEC) on January 28, 1997 as “Total Savings Bank” and was granted the authority to operate as a thrift bank under the MB Resolution No. 29 dated January 8, 1997. The Bangko Sentral ng Pilipinas (BSP) issued a Certificate of Authority on February 6, 1997. On December 16, 1997, the SEC approved the change of corporate name of the Bank to “Philippine Business Bank (A Savings Bank)” which the shareholders believe better reflects the Bank’s business thrust and focus. The Bank’s focus is to become the bank of choice of the SME market segment. The BSP defines small and medium enterprises to be any business concern with assets between PhP 3 million to PhP 100 million, excluding the land value on which the entity’s office, plant, and equipment are situated.
When asked why PBB chose to partner with PDPI, “Why not?” Mr. Rolando Avante, President and CEO of PBB, answers. “Because this is what Roxas will be five to ten years from now. When you talk about Roxas City, you'll talk about Pueblo de Panay. And I know it will happen. Pueblo will be the new Panay, the new Roxas City. Because everything will now move around inside PDP.”
“This is the first big financing exposure of Philippine Business Bank (PBB) in the Panay Island, and PBB chooses to make it in Roxas City. This is a clear vote of confidence by PBB, not only on the city, but also on the Province of Capiz,” explained Mr. Perry Doroja, Executive Vice President of PDPI. “As PDPI is committed to making Roxas City the center of activities in Northern Panay, so is PBB committed to be a part of this grand plan,” Mr. Doroja adds.
And as a show of commitment, PBB will be putting up a branch inside Pueblo de Panay Township. “We're committed to see this project finish. We're putting up a branch inside Pueblo. PBB will be with you here. Until we see everything finished,” Mr. Avante promises.