PBB was incorporated as a Philippine corporation and registered with
the SEC on January 28, 1997 as “Total Savings Bank” and was granted
the authority to operate as a thrift bank under the MB Resolution
No. 29 dated January 8, 1997. The BSP issued a Certificate of Authority
on February 6, 1997. On December 16, 1997, the SEC approved the
change of corporate name of the Bank to “Philippine Business Bank
(A Savings Bank)” which the shareholders believe better reflects the
Bank’s business thrust and focus.
The Bank’s focus is to become the bank of choice of the SME market
segment. The BSP defines small and medium enterprises to be any
business concern with assets between Php 3 million to Php 100 million,
excluding the land value on which the entity’s office, plant and
equipment are situated.
This focus on the SME market is driven by the size and potential
of this particular market. According to a recent data from the
Department of Trade and Industry, SMEs account for 99.6 percent of
total registered enterprises. The Bank believes that the SME segment
is the major source of entrepreneurship and economic dynamism
which provide trade, manufacturing and outsourcing and services
and help contribute to community and local development. Lastly,
the Bank believes that the SME segment is underserved with most
financial institutions focusing on the banking requirements
of large corporations.
To become the bank of choice of the SME market, PBB has increased
its branch presence in several commercial and industrial centres of
the country and recruited branch and account officers with extensive
client networks in these specific communities. The Bank’s network grew
from two (2) branches in 1997 to 139 branches as of December 31, 2016
with most branches located in areas with high concentration of small and
medium businesses such as Caloocan, Malabon, Navotas, Valenzuela
and Quezon City. PBB has also aggressively expanded its branch
network in highly urbanized areas outside the Mega Manila such as
Davao, General Santos, Bacolod, and Cebu. PBB believes that client
proximity, understanding its targets’ banking requirements, the
reputation of its branch and account management staff within their
respective communities, and the overall reputation of PBB, are the
key growth factors in the banking business.
|