PSBank
{{short description|Bank in the Philippines}}
{{Infobox company
| name = PSBank
| logo = PSbank logo.svg
| logo_size = 260px
| type = Public
| traded_as = {{pse|PSB}}
| foundation = {{start date and age|1959}}, in Manila, Philippines
| location = Makati, Philippines
| key_people = Vicente R. Cuna Jr. (chairman)
Arthur V. Ty (vice chairman)
Jose Vicente L. Alde (president and Director)
| num_employees = 2,030
| industry = Finance
| services = Banking
| parent = Metrobank Group
| homepage = {{URL|https://www.psbank.com.ph|psbank.com.ph}}
| revenue = {{Philippine peso|20.23 billion}} {{loss}} (2020){{Cite web |url=http://www.psbank.com.ph/financials02.htm |title=:: About Us :: |access-date=2006-04-04 |archive-date=2005-02-08 |archive-url=https://web.archive.org/web/20050208211700/http://www.psbank.com.ph/financials02.htm |url-status=dead }}
}}
The Philippine Savings Bank (also known in Hokkien {{zh|t=|poj=Choân Hui Thí-thiok Gûn-hâng|l=|c=全菲儲蓄銀行|s=|p=}}; & Mandarin {{zh|t=全菲儲蓄銀行|poj=|l=|c=|s=全菲储蓄银行|p=Quán Fēi Chúxù Yínháng}}){{Cite news |date=Apr 1, 2023 |title=全菲儲蓄銀行：假期期間利用移動在線平台 |work=菲律賓商報 (Chinese Commercial News) |url=https://www.shangbao.com.ph/jjxw/2023/04-01/136451.shtml |access-date=May 3, 2023}} (shortened as PSBank or abbreviated as PSB) is a savings bank based in the Philippines. It is a subsidiary of Metrobank and is the 2nd-largest savings bank in the Philippines after BPI Family Savings Bank.
Subsidiaries and affiliates
File:9016Philippine Savings Bank.jpg]]
PSBank is a subsidiary of Metrobank, and as such is affiliated with it. PSBank is also affiliated with Toyota Financial Services Philippines Corporation (TFSPC), where it currently has a 25% stake.
Ownership
- Metropolitan Bank and Trust Company: 75.98%
- PCD Nominee Corporation: 5.86%
- Danilo L. Dolor (son of Doña Soledad Dolor): 5.04%
- Erlinda L. Dolor: 2.95%
- Ma. Soledad S. de Leon: 1.67%
- Public stock: 4.01%
Competition
PSBank competes with other savings banks, such as BPI Family Savings Bank and RCBC Savings Bank. The bank is also competing against multinational savings bank such as Citibank Savings and HSBC Savings. However, since PSBank is considered a major bank, it also competes with bigger financial institutions. It does not, however, aggressively compete with parent company Metrobank.
Controversies
=Impeachment of Renato Corona=
In February 2012, PSBank officials were about to receive a subpoena request in connection with the Impeachment of Renato Corona due to the allegations of a secret US$ account under the name of Renato Corona.{{cite news |newspaper=Philippine Daily Inquirer|url= http://newsinfo.inquirer.net/138365/psbank-cites-bank-secrecy-law |title=PSBank cites bank secrecy law |date=February 2, 2012}} The PSBank executives were also asked to bring consumer identification and specimen signature card(s) of the bank account(s) under Corona's name which won {{Philippine peso}}1 million in the PSBank Monthly Millions Raffle Promo.{{cite news |work=Rappler|url= http://www.rappler.com/nation/special-coverage/corona-trial/1234-did-corona-declare-p1-m-luck |title=Did Corona declare P1-M luck? |date=February 1, 2012}}
=Pork barrel case=
During the senate investigations involving the Priority Development Assistance Fund scam, also known as the pork barrel scam, PSBank was one of the domestic banks included in the senate inquiry about the bank accounts of the whistleblowers.{{cite news |work=Rappler|url=http://www.rappler.com/nation/78790-napoles-bank-records-whistleblowers |title=Napoles presses bank to release whistleblowers' records |date=December 23, 2014}} Moreover, the bank was included as one of the banks from which Senator Ramon Revilla Jr. and his family, as well as those of Janet Lim-Napoles and her pseudo-NGOs, have utilized to launder the controversial "pork barrel" funds.{{cite news |url= https://ph.news.yahoo.com/blogs/the-inbox/how-amlc-found-possible-laundering-of-revillas-pdaf-101340503.html |title=How AMLC found possible laundering of Revilla's PDAF |archive-url=https://web.archive.org/web/20141030211239/https://ph.news.yahoo.com/blogs/the-inbox/how-amlc-found-possible-laundering-of-revillas-pdaf-101340503.html |archive-date=October 30, 2014 |last1=Chua |first1=Yvonne T. |work=VERA Files |via=Yahoo! News Philippines}}
See also
{{Portal bar|Banks|Philippines}}
References
{{Reflist}}
External links
- {{Official website|https://www.psbank.com.ph/}}
- {{Commons-inline}}
{{Banks of the Philippines}}
Category:Banks of the Philippines