PHILGUARANTEE, Sterling Bank sign housing retail guarantee deal

Philippine Guarantee Corporation and Sterling Bank of Asia have signed a ₱5-billion housing retail guarantee facility to widen access to home financing for Filipino families.

The agreement was inked on March 17 at the Sterling Bank of Asia Head Office in San Juan City by PHILGUARANTEE President and CEO Alberto Pascual and SVP Teresito Cayo Butardo, joined by Sterling Bank President and CEO Cecilio San Pedro and Real Estate Loans 1 Head Candice Quianzon.

Pascual said the partnership demonstrates a shared commitment to expanding housing opportunities.

“For PHILGUARANTEE, our partnership with Sterling Bank of Asia plays an important role in fulfilling our mandate of strengthening the country’s credit delivery system,” he said.

Butardo highlighted the role of PHILGUARANTEE as a GOCC in reducing lending risks for sectors vital to economic growth, especially the underserved housing sector.

“As a GOCC (government-owned and controlled corporation) attached to the Department of Finance, PHILGUARANTEE provides credit guarantees that reduce the risks of lending to sectors vital to economic growth, particularly housing, which is often underserved,” he said.

San Pedro emphasized that the collaboration allows banks to extend housing loans more confidently while ensuring responsible lending.

“PHILGUARANTEE provides an important mechanism that enables banks like Sterling Bank of Asia to extend housing loans with greater confidence and reach more deserving borrowers. In simple terms, this partnership allows us to do what the banks are meant to do. Support aspirations while ensuring that lending remains prudent and sustainable,” he said.