PNB expands in Visayas, Mindanao

MANILA, Philippines — Philippine National Bank (PNB) is expanding its presence in the Visayas and Mindanao regions in response to the call of the Bangko Sentral ng Pilipinas (BSP) to reach the unbanked and underserved communities.

PNB executive vice president and retail banking sector head Bernie Tocmo said the bank is strengthening its presence in places where banking products and services are needed the most to support the growth of regional economies.

Tocmo said the country’s fifth largest bank in terms of assets continues to open new branches and introduce branch-lite units in Visayas and Mindanao.

As of end-August, PNB has established six branch-lite units PNB QC-BSP in Manila, PNB Cebu-Mactan International Airport, PNB Pagadian City-Gaisano Capital in Zamboanga del Sur, PNB Leyte-Baybay City-VSU in Leyte, PNB Southern Leyte-Hinunangan in Southern Leyte, and PNB Davao-Samal Island in Davao del Norte.

“This is PNB’s response to the government’s call to serve the unbanked population. On top of our regular products and services, our branch-lite units also offer products that address particular financial needs of specific communities,” Tocmo said.

He added branch-lite units have a leaner number of employees who can provide the same quality service, especially for the underserved localities.

Apart from the branch-lite initiatives, PNB has also recently opened branches including Cebu-Mandaue Lopez Jaena, Davao-Magsaysay Lizada, Davao-Panacan, Davao JP Laurel Ave., and Davao-Victoria Plaza and one in the municipality of Dapa, Siargao Island.

Through the branch-lite initiatives, Tocmo said the bank owned by tobacco and airline magnate Lucio Tan reaffirms its commitment to be a dependable partner of the government in nation building.

Tan is consolidating its banking units through the merger of PNB and PNB Savings Bank to further strengthen the group’s consumer lending business with a combined footprint of 707 branches, including 644 PNB branches and 63 from PNB Savings Bank.