PLANTERS Development Bank is reportedly looking for more areas in Mindanao where it can put up a branch with Cagayan de Oro City being one of the possible areas.

Nineteen (19) years ago, Cagayan de Oro became Plantersbank’s first branch in Mindanao. The growth of the small and medium enterprises (SMEs) in the Mindanao countryside, which composes about 80% of the bank’s market, necessitates the expansion plans. Accordingly, the bank will put premium on the geographical location because this will “maximize the access” of SMEs to the bank.

The growth in the SME sector is attributed to the growth of the agri-businesses in Mindanao considering that the island is relying mainly on its agricultural sector. Plantersbank is trying to sustain the growth’s momentum.

Plantersbank’s CDO branch is at Tiano Bros. St.

with article by Carmelito Q. Francisco of Mindanao Times

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