Wednesday, February 27, 2008 ONB to embark on 'one fish' program
ASIDE from the One Rice, One Banana, and One Cassava programs, which the One Network Bank (ONB) has been promoting under its agri-development thrust in Mindanao, the top official of the bank claimed that ONB would soon implement the One Fish Program this year.
"Our One Fish Program has already passed the technical evaluation. The income is good and fish, particularly bangus, is profitable so we embarked in this program," Alex Buenaventura, ONB president, said last week.
He said the bank will release P200,000 loan for every 10 by 10 meters of fish cage.
"We plan to establish the program in Alabel, Sarangani Province. As of now we still have no buyer, but we believe that the program is productivity wise and the income to be generated from it seems to satisfy the farmers," Buenaventura said.
"In terms of productivity, we can compete with other countries and we can exceed the productivity of other countries," he added.
Buenaventura said ONB is also optimistic that the new program will contribute to the increase in agricultural loans portfolio to be provided by the bank this year.
The bank earlier projected that this year a total of P335 million will be generated by the bank in terms of net income, higher by P130 million last year.
Buenaventura said they see that the increase in the bank's net income may be attributed to the increase in teachers' loans by 30 percent, business loans by 50 percent, and agricultural loans by 100 percent. (JGRS)
