Stock Information

PBC | PHILIPPINE BANK OF COMMUNICATIONS

Sector: FINANCIALS | Sub-Sector: BANKS

Philippine Bank of Communications (PBC) was incorporated on August 23, 1939 and received the authority to engage in commercial banking from the then Bureau of Banking of the Department of Finance under the Philippine Commonwealth.

At present, the Company offers basic commercial banking services such as deposit products, credit and loan facilities, trade-related services, treasury and foreign exchange trading, cash management services, trust and investment management services. Ancillary services such as safety deposit boxes and manager's checks, demand drafts, acceptance of tax and SSS payments are also available. These products are both offered to individuals and corporate clients.

PBC's liability and ancillary products and services are distributed primarily through its 95 branches, four of which are pop-up formats in selected Puregold stores. These branches are supported by a network of 171 automated teller machines and 102 cash deposit machines.

The Company owns 40% of PBCom Finance Corporation. On January 11, 2021, the Board of PBC approved the dissolution and retirement of operations of its sole wholly-owned subsidiary, PBCom Insurance Services Agency, Inc. (PISAI), after being inactive for the past three years. On May 3, 2024, PISAI completed the settlement of its liabilities and liquidated its remaining assets for distribution to its stockholders. Following this, PBC received the release of PISAI s remaining assets and derecognized its investment in PISAI.

Source: SEC Form 17-A (2024)