In the most recent Quarterly Banking Report published by Businessworld, Philippine Veterans Bank has been listed as the 20th largest commercial bank in the country, marking it's entry into the roster of the Top 20 Commercial Banks in the Philippines as of Dec. 31, 2008.

PVB total resources grew by 25.1% to P45.54 billion by yearend of 2008 compared to P36.4 billion of the previous year. Majority of the growth resulted from total deposits which grew by 39.5% to P37.1 billion from P26.6 billion year-on-year. The Bank’s total loan receivables ballooned by 73.2% to P23.9 billion as of December 31, 2008 from the P13.8 billion of the same period of the previous year.

In both loans and deposits, a sizeable portion of the business came from government agencies and local government units. Its ATM cardholder base also grew to 95,000 mainly due to payroll accounts with government units and agencies using its unique “3-in-1” card that functions as an ATM card, personnel or company ID, and also as the time-in/time-out card.

PVB’s capital base likewise grew by 7% to P4.74 billion at 2008 yearend compared to P4.43 billion of the previous year. The Bank’s capital adequacy ratio (CAR) remained high at 21.46% using Basel II, still well above the Bangko Sentral’s minimum requirement of 10%. The CAR is a measure used to determine a bank’s capability to shoulder risks.

PVB's Return on Equity was also high at 9.56% as of the same period compared to other banks, and the Bank ranked 14th among the commercial banks. In terms of total deposits, loans, and capital, PVB also ranked 18th among the banks.

PVB has applied for 15 new branch licenses, mostly outside Metro Manila, to help augment the Bank’s 45 branch network nationwide. This was recently approved by the Bangko Sentral ng Pilipinas.

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For any questions or clarifications, please call:
Mike Villa-Real
Vice-President
Corporate Communications and Marketing Services Dept.
Tel: 902-1670
Email: mcvillareal@veteransbank.com.ph