Mercantile Bank inks credit guarantee deal with PKSF

Mercantile Bank PLC has officially signed an agreement with the Palli Karma-Sahayak Foundation (PKSF) to avail credit guarantee services under the Credit Enhancement Scheme (CES).

The signing ceremony was presided by Md Fazlul Kader, managing director of PKSF, along with Md Zakir Hossain, deputy managing director and chief risk Officer (CRO) of Mercantile Bank, and Farid Ahmed, EVP and Head of the Gulshan Branch of the bank, says a press release.

Under this strategic partnership, Mercantile Bank will extend credit and loan facilities to PKSF-enlisted partner organizations covered under the Credit Enhancement Scheme. 

These loan disbursements will be fully backed by the credit guarantee facilities provided by PKSF, significantly lowering lending risks and boosting financial resources for small businesses.