Philippine Savings Bank

Philippine Savings Bank

Type	Public (PSE: PSB)
Industry	Finance and Insurance
Founded	Manila, Philippines (1959)
Headquarters	Makati, Philippines
Key people	Jose T. Pardo, Chairman Pascual M. Garcia III, President
Products	Financial Services
Revenue	PhP1.018 billion PHP (27%) (2007)
Number of employees	2,030
Parent	Metrobank Group
Slogan	Simple lang. Maaasahan.
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.

Subsidiaries and affiliates

PS Bank in Candelaria, Quezon

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.

Ownership

• Metropolitan Bank and Trust Company: 75.98%
• PCD Nominee Corporation: 5.86%
• Danilo L. Dolor: 5.04%
• Erlinda L. Dolor: 2.95%
• Ma. Soledad S. de Leon: 1.67%
• Public stock: 4.01%

Competition

PSBank competes with other savings banks, such as BPI Family Savings Bank and RCBC Savings Bank. The bank is also competing against multinational savings bank such as Citibank Savings and HSBC Savings. 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.

Controversies

Impeachment of Renato Corona

PSBank officials were about to receive a subpoena request in connection with the Impeachment of Renato Corona due to the allegations of a secret US$ account under the name of Renato Corona.^[1]

In addition, the PSBank executives were also asked to bring consumer identification and specimen signature card(s) of the bank account(s) under Corona's name which won P1 million in the PSBank Monthly Millions Raffle Promo.^[2]

Pork Barrel Case

During the senate investigations involving the 'pork barrel' case, PSBank was one of the domestic Philippine banks included in the senate inquiry about the bank accounts of the whistleblowers.^[3]

Moreover, PSBank was also included as one of the banks from which Sen. Ramon Revilla Jr. and his family, as well as those of Janet Lim-Napoles and her pseudo-NGOs, have utilized to launder the controversial “pork barrel” funds.^[4]

Principal Officers

Board of Directors

Advisers

Senior Officers

See also

• BancNet
• Metropolitan Bank and Trust Company

References

External links

• PSBank Official website

Banks in the Philippines Bangko Sentral ng Pilipinas Universal banks Asia United Bank Banco de Oro BPI Chinabank EastWest Bank Metrobank PNB Philtrust PSBank RCBC Security Bank UnionBank UCPB Government banks Al-Amanah Islamic Investment Bank of the Philippines DBP Landbank PostalBank Commercial banks Bank of Commerce Chinatrust Citibank HSBC Maybank PBCom Robinsons Bank Standard Chartered Bank Veterans Bank Thrift Banks BPI Direct Savings Bank China Bank Savings Citystate Equicom Philippine Business Bank Plantersbank Security Bank Savings Other banks Cooperative banks Rural banks Defunct Allied Bank (merged with PNB) Banco Filipino Equitable PCI Bank (merged with BDO Unibank)