The Philippine National Bank is the one of the top banks in the island of Philippine. It has a presence not just in Philippine but also in other Asian countries such as Japan and Singapore. It also operates remittance centres in various countries around the world, which include Canada, the United States, England, the Netherlands, Spain, France, Austria, Germany, Italy and so on. It is the first choice of Filipinos living abroad, when it comes to remitting money to their native country. The bank has been operational for more than 90 years and has provided people with quality banking and financial solutions.
History of the Bank
Established in 1916, the Philippine National Bank (PNB) is one of the largest banks in the island of Philippine. The bank was founded during the American Occupation of the country and was a government controlled bank at first. It has more than 300 branches in Philippine and another 13 branches in countries overseas. In 1980, the government of Philippine privatised the Philippine National Bank and it was purchased by Lucio Tan, a Filipino industrialist. The first overseas branch of the bank was established in New York, in 1917. As a government controlled bank, PNB was initially responsible for issuing currency and other banking functions conducted by central banks till 1949.
The Philippine National Bank has total assets worth PHP 240 billion as of 2007. Its operating income was PHP 14.5 billion and net income was PHP 1.5 billion in 2007. Apart from increasing its customer base, the bank has expanded to foreign markets and have become one of the most prominent banks in Southeast Asia. The bank became a completely privatized entity in 2005 and over the years it has been able to remain profitable despite the fact that it faces a lot of competition from banks in the region. It generates a lot of revenue through its remittance centres in cities around the globe.
Why choose the Philippine National Bank?
If you are looking for a bank that can provide you with a range of banking products and services in Singapore, you can opt for the Philippine National Bank. You will benefit from the excellent quality of service offered by the bank and if you are a Filipino living in Singapore, you can easily remit money to your native country through the services offered by the bank. The fact that PNB has won numerous awards in the field of banking and finance will also provide you with more reasons to opt for the services of the bank.
Philippine National Bank Loans
The bank offers only two types of loans in Singapore. One is a PNB home loan (called Own a Philippine Home Loan) that is available only for the purchase of properties in Philippines and the other is a personal loan (called PNB Pangarap Loan) that is offered against fixed deposit accounts with PNB Singapore.
Products and Services Offered By the Philippine National Bank in Singapore
The Philippine National Bank offers the following products and services in Singapore:
- USD and PESO and Time Deposit
- SSS Payments
- Import-Export Service
- PAG-IBIG Payments
- Own a Philippine Home Loan
- PNB Pangarap Loan
- PNB Internet Remittance
- PNB Rapid Remit
- PNB Door-to-Door Delivery Service
- Overseas Bills Payment System (OBPS)
- Global Filipino Card
- PNB Cash Pick-Up
- Cashome by Singpost
- Remittances Thru Mails
- Telegraphic Transfer
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Awards and Milestones
Since its inception in 1916, the Philippine National Bank has won many awards and have also achieved a lot of milestones. It is one of the preferred banks of Filipinos living around the world as the products and services offered by the bank helps them to own property in Philippine and also send money to their loved ones in the country. In 2007, PNB was awarded the SSS Balikat ng Bayan Award Hall of Fame. The bank was also awarded the title of the best paying bank more than 7 times, in the period between 1997 to 2006. The readers of many popular magazines have voted the bank as the Most Trusted Brand in Philippine.