Philippine Savings Bank

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Philippine Savings Bank
Type Public (PSE: PSB)
Founded Manila, Philippines (1959)
Headquarters Makati City, Philippines
Key people Jose T. Pardo, Chairman
Pascual M. Garcia III, President
Industry Finance and Insurance
Products Financial Services
Revenue PhP1.018 billion PHP (▲27%) (2007) [1]
Employees 2,030
Website www.psbank.com.ph

The Philippine Savings Bank (PSE: PSB), commonly known as PSBank or PSB, is a savings bank based in the Philippines. It is a subsidiary of Metrobank and is the second-largest savings bank in the Philippines.

Contents

[edit] History

Over 47 years and working even harder to make PSBanking simply better. This philosophy is at the core of PSBank's desire to serve its market. Responding promptly to new challenges and putting a premium on emerging opportunities to make life better for valued customers, PSBank continues to keep pace with the changing needs of the times. PSBank, with innovative products and services that are responsive to client's needs, reinforces its reputation for service, stability, dependability and strength.

The late Dr. Guillermo A. Picache established Philippine Savings Bank (PSBank). The Bank opened its doors to the public on Sept. 26, 1960 at its first head office located at Plaza Miranda, Quiapo, Manila. PSBank started with a small network of four branches in Divisoria, Carriedo, Blumentritt and C.M. Recto.

That early, PSBank was seen as an industry innovator, introducing several firsts: Monday to Saturday banking with no noon break, extended banking hours, installation of online electronic data system and banking-by-mail. Convenience and service quality prompted clients to dub PSBank as "The Friendly Bank."

In 1973, PSBank ownership passed from the Picache family to the Dolor Group. In 1981, Metropolitan Bank and Trust Company (Metrobank) acquired majority shares of PSBank. PSBank became a subsidiary of Metrobank - the country's largest bank.

As PSBank entered the 90s, it recognized the need to address the changing face of the market and the industry. Continuing to strengthen partnership with its clientele, PSBank also expanded services and product offerings. In 1991, the Monetary Board of the Bangko Sentral ng Pilipinas authorized the Bank to perform trust banking functions. By 1995, PSBank was granted a quasi-banking license, previously granted only to commercial banks and investment houses.

PSBank broke new ground in 1994 when it became the first publicly listed savings bank in the country. The first offering of 25% stock rights to the public raised PhP602.4 million. The following year, proceeds of a second stock rights offering yielded PhP526 million accounting for 63% growth in capital funds.

Today, PSBank is even stronger and bigger not just in terms of size but more so in terms of being able to serve the multi-faceted needs of individual clients. With its capital, it can qualify as a commercial bank. PSBank, however, chooses to remain as a savings bank and use its resources to compete aggressively in retail banking. All to the benefit of consumers as PSBank offers a wide range of products - from deposits to loans - that addresses this segment of the market.

PSBank's thrust of providing the continuously growing needs of the consumer market is consistent with its vision of being the country's consumer and retail bank of choice. It is this vision that constantly guides PSBank and its people with a sense of mission to work harder for every individual customer - to meet his/her needs through the different phases of life.

[edit] Subsidiaries and affiliates

PSBank in itself is a subsidiary of Metrobank, and as such is affiliated with it. PSBank is affiliated with Toyota Financial Services Philippines Corporation (TFSPC), where it currently has a 25% stake.

[edit] Ownership

[edit] Competition

PSBank competes with other savings banks, such as BPI Family Bank, RCBC Savings Bank and Banco Filipino. The bank is also competing against multinational savings bank such as Citibank Savings Bank and HSBC Savings Bank. However, since PSBank is considered a major bank, it also competes with bigger financial institutions. It does not, however, aggressively compete with parent company Metrobank.

[edit] Principal Officers

Board of Directors

Name Position
Jose T. Pardo Chairman
Jovencio F. Cinco Vice Chairman
Arthur V. Ty Vice Chairman
Jose G. Araullo Director
Ma. Theresa G. Barretto Director
Margaret L. Ty-Cham Director
David O. Chua Director
Pascual M. Garcia III Director
Alfredo P. Javellana II Director
Atty. Regis V. Puno Director
Ma. Ursula R. Resurreccion Director
Rolando A. Rodriguez Corporate Secretary

Advisers

Dr. George S.K. Ty
Antonio S. Abacan
Amb. Alberto A. Pedrosa

Senior Management Committee

Name Position
Pascual M. Garcia III President
Rolando A. Rodriguez Executive Vice President
Jose Vicente L. Alde Senior Vice President, Branch Banking Group
Jaime Valentin L. Araneta Senior Vice President, E-Banking Unit
Perfecto Ramon Z. Dimayuga Jr. Senior Vice President/Chief Finance Officer, Finance Group
Noli S. Gomez Senior Vice President, Operations Group
Consolacion R. Saur First Vice President, Account Relationship Division I
Neil C. Estrellado First Vice President, Information Technology Division
Norberto M. Coronel III First Vice President, SME Banking Group
Jose Jesus B. Custodio Vice President, Auto Loans Division
Jay S. Velasco Vice President, Centralized Branch Operations and Support Division
Grace G. dela Cruz Vice President/Chief Compliance Officer, Compliance Office
Mary Jane M. Valero Vice President, Customer Service Division
Emma B. Co Vice President, Internal Audit Group
Rebecca R. Igot Vice President, Loans Operations Division
Ernest P. Perez Vice President, Marketing and Communications Group
Leonardo Roberto A. Disini Vice President, Mortgage Banking Division
Jan Nikolai M. Lim Vice President, Personal Loans Division
Ma. Patricia L. Castañeda Vice President, Risk Management Office
Jose Martin A. Velasquez Vice President, Treasury Division
Pablito C. Veloria Assistant Vice President, Credit Administration Group
Ma. Rita Rosette R. Villamin Assistant Vice President, Human Resources Group
Dan Jose D. Duplito Assistant Vice President, Information Security Department

Senior Officers

Name Position
Yolanda L. de la Paz Senior First Vice President, Downtown Metro Area Office
Jose Nazario R. Cruz Vice President, Central Luzon Area Office
Nerissa J. Lazaro Vice President, East Metro Area Office
Arnel D. Lopez Vice President, General Services Department
Eliel B. Aparri Vice President, North Metro Area Office
Edeza A. Que Vice President, Risk Management Office
Jahil L. Macapagal Assistant Vice President, Account Relationship Division II
Rosalinda T. Munsayac Assistant Vice President, Account Relationship Division III
Arlynne Elizabeth Marie A. Echevarria Assistant Vice President, Business Information Management Services Division
Miriam S. Valero Assistant Vice President, Corporate Communications Division
Minda L. Cayabyab Assistant Vice President, Financial Accounting Services Division
Ma. Cristina G. Duque Assistant Vice President, Main Metro Area Office
Donabel S. Arcilla Assistant Vice President, Marketing Management Division
Abigail P. Melicor Assistant Vice President, PLD - Retail Sales Department
Jeannette A. Reonisto Assistant Vice President, Process Management Division
Ellery Matthew D. Camacho Assistant Vice President, Provincial Dealer Sales Department
Margaret T. Cham Assistant Vice President, Purchasing Department
Francis C. Llanera Assistant Vice President, Remedial Collection Division
Arwin M. Guste Assistant Vice President, Risk Management Office
Gilbert L. Nunag Assistant Vice President, Risk Management Office
Josefina Z. Sison Assistant Vice President, South Metro Area Office
Ismael M. Lalunio Assistant Vice President, Southern Luzon Area Office
John Emmanuel J. Palafox Assistant Vice President, Systems Development Department
Victor Albert A. Saplala Assistant Vice President, Systems Support Department
Reuel R. Javier Assistant Vice President, Trading and Investment Department
Andre Manuel L. Abellanosa Assistant Vice President, Treasury Marketing Department
Mariano M. Magbanua Jr. Assistant Vice President, VisMin Area Office

[edit] See also

[edit] External links