PNB signs agreement with PAFCPIC

From left: Cenon Audencial, Jr., PNB EVP and Institutional Banking Sector Head; Reynaldo Maclang, PNB President; BGen Francisco Paredes (Ret), PAFCPIC Chairperson; and BGen Fernando Zabat (Ret), PAFCPIC President

The Philippine National Bank (PNB) and Philippine Army Finance Center Producers Integrated Cooperative (PAFCPIC) recently signed a credit line facility of up to Php1 billion which will be used to provide customized financial solutions to its members.

“PNB is here to support PAFCPIC and be its partner in keeping its members connected to convenient financial solutions. This is our way of helping our fellow military and their families in their loan and cash requirements,” shares EVP and Head of Institutional Banking Sector Cenon Audencial, Jr.

PAFCPIC was founded in 1981 by 15 cooperators composed of officers, enlisted personnel, and civilian employees of the Philippine Army Finance Center. Composed of active and retired military and civilian personnel from the Philippine Army, Philippine Navy, and Philippine Air Force, the organization provides its members with financial services such as deposits and loans.