About us
Post War PVB
In 1956, the idea to establish a veterans bank began when the war reparations agreement with Japan concluded. Under R.A. 1789 or the Reparations Law, it provided for the payment by Japan to the Philippines of US $ 20 million cash, which were placed in a Veterans Trust Fund for the benefit of the WWII veterans, their widows, orphans and heirs. And so, on June 18, 1963, the Philippine Veterans Bank was created with the enactment of Republic Act No. 3518, which became its charter.
In 1956, the idea to establish a veterans bank began when the war reparations agreement with Japan concluded. Under R.A. 1789 or the Reparations Law, it provided for the payment by Japan to the Philippines of US $ 20 million cash, which were placed in a Veterans Trust Fund for the benefit of the WWII veterans, their widows, orphans and heirs. And so, on June 18, 1963, the Philippine Veterans Bank was created with the enactment of Republic Act No. 3518, which became its charter.
Martial Law
However, subsequent amendments to R.A. No. 3518 (particularly Pres. Decrees 236, 919, 1636) during the martial law era enabled the Marcos administration to appoint board members. The veterans, in effect, became PVB owners in name only. The Bank fell prey to political excesses & mismanagement during that era, and was closed on April 10, 1983 and placed under receivership, and subsequently, under liquidation on June 17, 1985.
Aquino Administration
Under a new-found democracy of the Aquino Administration, the framers of the 1987 constitution provided that adequate care, assistance, and other benefits shall be given to the veterans. Through the initiative and unyielding efforts of the Veterans Federation of the Philippines (VFP) led by Col. Emmanuel V. de Ocampo with the help of Senator Alberto Romulo and Congressman Eduardo Pilapil and Atty. Romeo Roxas, PVB was reopened and rehabilitated through R.A. 7169, and restored the spirit and intent of the original charter of the Bank. They were supported by then Secretary of National Defense Fidel V. Ramos and Defense USec. Leonardo Quisumbing.
A Private Commercial Bank
On May 6, 1992, the Central Bank of the Philippines granted PVB the authority to operate as a private commercial bank.
On July 3, 1992, President Fidel V. Ramos symbolically opened the Bank.
One month later, on August 3, 1992; the Bank began commercial operations with the opening of the Main Branch along Paseo de Roxas, Makati. By 1992 yearend, PVB had 9 branches and P4.0 billion in Assets, with plans to set-up an additional 21 branches.
A year later, PVB introduces the Veteran Teller ATM Card and joins the Megalink ATM consortium. In 1995, PVB moves to its present Head Office at Herrera (now V.A. Rufino) corner Dela Rosa St., Legaspi Village, Makati City.
Currently, PVB has 60 branches all over the country, 135 ATM sites, and provides flexible corporate and retail banking services to both public and private sectors.
