MANILA, Philippines — Philippine National Bank (PNB) has extended a P1-billion credit facility to consumer finance platform BillEase, giving the Lucio Tan-led lender exposure to the growing retail consumer credit market.
The facility, BillEase’s first with PNB, uses the Personal Property Security Registry (PPSR). This gives the bank a registered first-rank claim over a pool of BillEase’s consumer loan receivables.
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The PPSR is a centralized movable-asset registry created under the Personal Property Security Act or Republic Act No. 11057.FEATURED STORIES
