The country's consumer and retail bank of choice.

PSBank has gone a long way from its humble beginnings as a neighborhood bank since it first opened its doors to its clients on September 26, 1960. Its head office was located at Plaza Miranda, Quiapo, Manila, then the heart of the country’s commercial and business district, while its first four branches were in Divisoria, Carriedo, Blumentritt and C. M. Recto.

SIMPLE BEGINNINGS, BIG DREAMS

At that time, PSBank blazed a trail in innovative banking which was quite unheard of in those simple and laidback days. It was the very first bank that offered Monday to Saturday banking with no noon break, extended banking hours, online electronic data system, and banking-by-mail. PSBank was also well-known as “The Friendly Bank” because of its accessibility, convenience and service quality. It seemed that, even then, PSBank was already ahead of its time.

In 1981, the Metropolitan Bank and Trust Company, the country’s largest bank, acquired majority shares of PSBank, thus making it a subsidiary and its consumer and retail banking arm. This fueled the growth and sharpened the focus of PSBank to offer products and services that championed its clients’ needs.

FINANCIAL STRENGTH AND STABILITY

In 1991, the Monetary Board of the Bangko Sentral ng Pilipinas authorized the Bank to perform trust banking functions. Four years later, PSBank was granted a quasi-banking license, previously granted only to commercial banks and investment houses.

On the same year, PSBank became the first publicly-listed savings bank in the country. Its first offering of 25% stock rights to the public raised PhP602.4 million while its second offering the following year yielded PhP526 million. This accounted for 63% growth in its capital funds.

Despite challenges that came its way through several crises in the local, Asian and global economies, PSBank – through its prudent management, innovation and customer-centric focus – consistently delivered. From being dubbed as a friendly bank in the 1960s, PSBank underscored its primary objective of quality customer service, simplified processes, quick credit decision and innovative products through its mandate and promise: Simple Lang, Maaasahan.

As the new millennium started, PSBank slowly yet surely made its steady climb until it reached its stature as one of the leading savings bank in the country. In 2006, the Bank again raised PhP2 billion in Tier 2 capital or unsecured subordinated notes. On the same year, it raised PhP750 million from its rights offer.  In 2008, the Bank successfully raised PhP2 billion in Tier 1 capital through a rights offer, increasing its capital funds by 28% to PhP8.47 billion. This was also the year when PSBank hit the PhP1-billion mark in its net income, proving that it has what it takes to thrive in the competitive and crowded banking industry.

PSBank has PhP34.89 billion in capital funds and PhP261.81billion assets as of end-2021.

CUSTOMER-FOCUSED SERVICE AND INNOVATION

The Bank also continues to offer innovative banking products and services that make banking easier, faster and more convenient to its customers. It's consumer loans offer affordable rates, flexible payment terms and quick credit decision. Car and real estate property buyers can get a credit decision from their PSBank Auto Loan and PSBank Home Loan application in as fast as 24 hours via SMS. The PSBank Flexi is a collateral-free personal loan that offers a revolving credit line or a term loan that can be used by clients for their child’s education, minor home or car repairs, travel, cashless shopping, bills payment, special occasions, and sudden expenses.

All of these, including the PSBank SME Term Loan with Prime Rebate which gives savings or rebates for advance or excess payments.  No other bank gives this benefit so customers get more value out of their hard-earned money.

To address the needs of its upwardly mobile client base, PSBank now also offers the PSBank Prepaid MasterCard and the PSBank Debit MasterCard which clients can get on the spot.

Dubbed as the all-in-one budget card, the PSBank Prepaid MasterCard serves as a remittance card, allowance card and debit card for purchases in MasterCard stores and online purchases.  The PSBank Debit MasterCard, on the other hand, can be conveniently swiped when shopping or dining in MasterCard-affiliated stores.

To expand its presence nationwide. PSBank continues to increase its branch and ATM network which has now reached 250 branches and over 500 in-branch and offsite ATMs. It is also strengthening its online presence through PSBank Online, a secure 24/7 Internet banking facility, and the PSBank Mobile app which allows clients to do real-time banking transactions anytime, anywhere using their mobile device.

GOOD CORPORATE CITIZENSHIP

Through it all, PSBank has never forgotten to give back to the community that it has served for more than 50 years.  As an advocate of the life-changing impact and value of education, it has a number of programs that benefits children and the youth.

To date, it has 51 elementary, high school and college scholars from Chinese-Filipino schools under the PSBank Educational Assistance Program. Under the Save It Forward program, it also sponsors the education of 41 indigent and 55 visually-impaired children from World Vision and Resources for the Blind so they can finish their elementary or high school education. On top of this, it gives an annual donation to these two organizations and Chosen Children Foundation, an agency that cares for children with special needs.

PSBank, in partnership with Metrobank Foundation, Inc. (MBFI), the Rotary Club of New Manila East and the PNP also support the Search for the Country’s Outstanding Police in Service (COPS).  COPS is a recognition program which honors exemplary members of the Philippine National Police (PNP) who have worked with their communities in solving and preventing crime.  In 2016, the program was integrated with two other Metrobank Foundation Search programs – the Search for Outstanding Teachers and The Outstanding Philippine Soldiers, under a newly formed competition called Metrobank Foundation Outstanding Filipinos.  Under this new Search program,  three police officers will be selected as winners and will be conferred the title “Metrobank Foundation Fellows in Public Service. “  Each awardee will receive a cash prize of PhP1 Million, a specially designed trophy, and a medallion.

PSBANK GETS HIGHEST CREDIT RATING

The Philippine Rating Services Corporation (PhilRatings) assigned PSBank the highest Issuer Credit Rating of PRS Aaa (corp.), with a Stable Outlook, citing on the Bank’s highly-experienced management team and strong capitalization thus having a very strong capacity to  meet its financial commitments relative to that of other Philippine corporates.