Philippine Savings Bank (PSB) was incorporated on June 30, 1959 to primarily engage in savings and mortgage banking. In 1983, Metropolitan Bank and Trust Company acquired a majority share in PSB, and in 2004 further increased its shareholdings to the present level of 83%. In 1991, the Company was authorized to perform trust functions, and in 1995, it was granted a quasi-banking license.
PSB's operating segments are organized and managed separately according to the nature of services provided and the different markets served, with each segment representing a strategic business unit that offers different products and serves different markets. These business segments are consumer banking, corporate banking, branch banking, and treasury. PSB caters mainly to the retail and consumer markets.
The Bank has a 30% interest in Sumisho Motor Finance Corporation, a partnership with Sumitomo Corporation.
As of December 31, 2018, PSB has 250 branches and 575 automated teller machines nationwide.