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PBC  

 

(@yuna-jeong)
Legendary Moderator
Joined: 7 months ago
Posts: 592
April 28, 2020 8:52 am  

Philippine Bank of Communications (PBC) was incorporated on August 23, 1939 and received the authority to engage in commercial banking from the then Bureau of Banking of the Department of Finance under the Philippine Commonwealth. PBC's operations were temporarily interrupted during World War II, but were immediately reconstituted in 1945 through the infusion of fresh funds. PBC acquired a license to operate as an expanded commercial bank from the Bangko Sentral ng Pilipinas (BSP) on December 24, 1993, and on March 31, 2000, the BSP's Monetary Board approved the amendment of PBC's license to a regular commercial banking license.

PBC offers basic commercial banking services such as deposit products, treasury and foreign exchange trading, trade-related services, cash management services, credit and loan facilities, trust and investment management services. Ancillary services such as safety deposit boxes and manager's checks, demand drafts, acceptance of tax and SSS payments are also available. These products are both offered on a retail basis to individuals and to corporate clients as well.

PBC's liability and ancillary products and services are distributed primarily through its 89 branches. These branches are supported by a network of 151 automated teller machines.

As of December 31, 2018, PBC's subsidiaries are Banco Dipolog, Inc.; Rural Bank of Nagcarlan, Inc.; and PBCom Insurance Services Agency, Inc. The Company also owns 40% of PBCom Finance Corporation.


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