Philippine Savings Bank Saves The Future

Philippine Savings Bank is simply defined by its name. This savings bank rooted from the Philippines is also called as PSBank or PSB. This banking institution is actually a subsidiary of the second-largest savings bank in the Philippines which is Metrobank. It is also affiliated with Toyota Financial Services Philippine Corporation.

The bank is owned by several companies and private individuals. Metropolitan Bank and Trust Company has the most shares. It has 75.98 percent of the stakes. PCD Nominee Corporation has 5.86 percent while private individuals such as Danilo L. Dolor owns about 5.04 percent, 2.95 percent belongs to Erlinda L. Dolor. Ma. Soledad S. De Leon owns 1.67 percent and the remaining 4.01 percent is considered as public stock.

This banking institution can fairly compete with other savings banks such as BPI Family Bank, RCBC Savings Bank and Banco Filipino. It also competes with Citibank Savings Bank and HSBC Savings Bank. It even competes with other giant banking institutions in terms of finances.

Philippine Savings Bank: A Glimpse Of Its Past

PSBank have been serving a lot of people for more than 47 years and still counting. Its secret lies on the objecting of serving its market.

The banking institution had it first operation on September 26, 1960 at its very first head office in Plaza Miranda in Quiapo. The foundation of this banking institution is through the effort of the late Dr. Guillermo A. Picache. Small schemes of branches in Divisoria, Carriedo, Blumentritt and C.M. Recto also started.

It has its fair share with some of the country's firsts. It is the first banking institution that has its banking services from Monday to Saturday without noon break.

From the Picache Family, the ownership of the bank was handed down to the Dolor Group in 1973. Eight years later, majority shares of the bank is acquired by the Metropolitan Bank and Trust Company and became its subsidiary.

In the 90s, Philippine Savings Bank acknowledged the need to have to do adjustments to keep with the need of its clients thus, it continue to fortify its partnership with its patronage and stretched its services. Trust banking function was granted to the bank in 1991 by the Monetary Board of Bangko Sentral ng Pilipinas. The banking institution left a mark in 1994 when it became listed as publicly savings bank in the Philippines.

The bank is considered to be strong not in size but with different service it can render to its patrons.

Stretched Out Services

Some of the services offered by this banking institution are Deposit Products which are further subdivided to PSBank ATM Savings, PSBank Regular Passbook Savings which will allow its customers to enjoy the convenience of passbook for tracking interest rate, PSBank passbook with ATM which you can have the delight witnessing how your savings grow through the passbook and for them to bask the convenience of the account day and night with ATM card. Regular Checking is also part of it. This will give you writing flexibility for an easy way of handling day-to-day bills. Others are the bank's regular checking, premium checking, dollar savings,dollar time deposits, the peso time deposit, a year or two or three peso time deposit, the prime time deposit, the US premium US dollar time deposit and PSBank of savings account.

Other services include consumer loan products, commercial loan products, credit card and others. Whichever product you would use from the mentioned it is as clear as crystal that Philippine Savings Bank saves your future.