Asialink Finance Corp. secured a P125-million credit line from KEB Hana Bank Global to shore up its lending resources for the Philippines’ small-scale businesses. This is Asialink’s first financial tie-up with a Korean bank.
“This breakthrough collaboration with a South Korean bank marks a vital step towards strengthening further Asialink’s diversification of funding sources for re-lending to the largely unbanked business sector,” said Asialink president and chief operating officer Eillen Mangubat.
Francis Koo, general manager of KEB Hana Bank Manila Site, said the credit agreement between Asialink and Hana Bank “is a testament to our commitment to enhancing Filipino lives through increased funding and sustainable growth”.
Aside from a growing list of local funders, four Taiwanese financial institutions consistently provide funds to Asialink. Creador, a Southeast Asian investment fund, also invested early this year P4 billion in Asialink for an 18-percent stake.
Asialink released over P12 billion in loans to over 24,000 new borrowers in 2023.
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