08:00 AM EDT, 09/03/2025 (MT Newswires) -- VersaBank ( VBNK ) on Wednesday said it has added two new receivable purchase program partners in Canada for the Receivable Purchase Program (RPP).

The new partners include VersaBank's ( VBNK ) first partner under the recent expansion of its RPP to include a securitized financing offering, which it has since complete. VersaBank ( VBNK ) expects funding for the other new partner to launch in the near term.

"The addition of these two partners continues to demonstrate the value proposition of our consistently available, readily accessible, economically attractive Receivable Purchase Program and further expands our already dominant position in Canada," said David Taylor, president, VersaBank ( VBNK ). "Importantly, this marks our first partner under our RPP Securitization solution which we believe will significantly expand our addressable market, in both Canada and the United States, as we continue to grow our core RPP offering."

VersaBank's ( VBNK ) RPP securitized financing strategy will include investment in the senior-level tranches of target securitized credit assets, as well as establish its own platform offering securitization of assets originated and owned by its financing partners.

The company's shares were down $0.12, to $14.86, on the Toronto Stock Exchange yesterday.