PNB named Best Bank in the Philippines by Forbes

18 April 2024 — Philippine National Bank (PSE: PNB) ranked first in the Philippines in Forbes’ list of World’s Best Banks for 2024 from being second in the country in last year’s list. The ranking was based on a worldwide survey of more than 49,000 banking customers in 33 countries as highlighted in the story published by Forbes, “Meet the World’s Best Banks 2024”.

“This time around, we rose to become number one. It is a great honor for PNB to be recognized by Forbes as the best bank in the Philippines,” said PNB President Florido P. Casuela. “We are truly grateful for the continued trust and confidence of our customers. This recognition validates that we are on track in pursuing our vision of being among the top banks in terms of customer growth and satisfaction. We have made it our mission to promote financial prosperity for all Filipinos and their businesses – locally and internationally – and to empower them to help build a competitive, inclusive, and sustainable economy.”

PNB was among the 403 leading and best banks to appear in the global magazine giant’s ranking. Forbes once again partnered with market research firm, Statista, and gathered rankings through surveys conducted in 17 languages. The respondents evaluated banks where they currently have a checking or savings account, where they have had an account within the past three years, or that they knew through family or friends. The banks were rated in five key areas – trustworthiness, terms and conditions (such as fees and rates), customer service (wait times and helpfulness of employees), digital services (ease of using the website and app), and quality of financial advice.

According to Forbes, “There is a common thread, that appears to be driving today’s banking customers, namely that ‘consumer expectations of banking have evolved from ‘do it for me’ to ‘do it with me’.”

Recently, PNB launched its rebranding campaign, Every Step Together, which communicates the bank’s commitment to support customers in every stage of their life, anywhere in the world. The refreshed branding serves as an anchor in all of the bank’s customer experience initiatives.

For the year 2023, PNB reported a consolidated net income of Php18.0 billion – a record 55% year-on-year increase over its previous year’s income. Its net core banking income, which excludes gains on sale of acquired properties, climbed by an impressive 156% year-on-year. This translated to an improved return on equity of 10% from the 7% posted a year ago.

PNB is PH’s Best Bank for Investment Research for fourth consecutive year

05 April 2024 — Philippine National Bank (PSE: PNB) has been awarded by Euromoney as the Best Bank for Investment Research in the Philippines during its Private Banking Awards last March 22. Including the recognition given by Asiamoney Private Banking Awards before it merged with Euromoney Private Banking Awards, this year is PNB’s fourth consecutive win since 2021.

“This is another major achievement for PNB. It is an honor to be recognized as the Best Bank for Investment Research in the country for the fourth time around,” said PNB President Florido Casuela. “This validates our consistency in providing trustworthy insights that help and guide our clients in making wise investment decisions.”

According to Euromoney, PNB won the award “in recognition of the breadth, depth and quality of its investment research, which helps clients navigate economic and financial market turbulence.”

PNB Executive Vice President and Financial Management, Strategy, and Sustainability Sector Head Francis Albalate expressed his appreciation for both Euromoney/Asiamoney and PNB’s Research team. “To be consistently awarded by the prestigious Euromoney and Asiamoney is really a great achievement for our Research team. This recognition demonstrates how we, at PNB, are working every step together in serving our clients through the research that we publish.”

PNB’s Economist and Research Division Head, First Vice President Alvin Arogo, expressed his gratitude for being recognized once again at this year’s awards. “This motivates our research team even more to deliver relevant and up-to-date economic and market insights to our investors, clients, and the general banking public,” he said. “We shall continue to support PNB in strengthening client relationships and meeting the changing demands of customers.”

The year 2023 was a banner year for PNB. The bank’s consolidated net income reached Php18.0 billion – a 55% year-on-year increase coming from robust net interest income and lower credit provisions. Net core banking income, which excludes gains on sale of acquired properties, climbed by an impressive 156% year-on-year. This translated to an improved return on equity of 10% from the 7% posted a year ago.

Euromoney has been the key magazine of the wholesale financial industry, its institutions, and its users for more than 50 years. The Euromoney Private Banking Awards is a prestigious worldwide annual awards program, recognizing the private banks of distinction across key categories. This year marks the first year Euromoney merges with Asiamoney for their Private Banking Awards.

PNB fetes valued clients to Chinese New Year celebration

06 March 2024 — Philippine National Bank (PSE: PNB) expressed its appreciation for and gratitude to its valued clients by hosting a Chinese New Year celebration on February 16 at the grand ballroom of the Century Park Hotel. Over 400 clients and guests attended the event.

The Lunar New Year is an important tradition in the Chinese culture that is widely celebrated around the world as it brings abundance, good fortune, and new beginnings. PNB held Chinese New Year appreciation events for its clients until face-to-face gatherings were put on hold when the pandemic broke out. The bank has now brought back the event as a way of thanking and bonding with its clients.

On hand to welcome the guests were the bank’s top executives led by PNB President Florido Casuela, PNB Director and LT Group President and Chief Operating Officer Lucio Tan III, and members of the board of directors and management committee.

Themed “Strides to Prosperity”, the event was hosted by Eva Marie Poon who entertained guests with her repertoire of crowd-favorite songs. The evening also featured world-class performances by renowned musical theater acts. Guests enjoyed a sumptuous lauriat dinner and took part in fun activities.

In a recent disclosure, PNB reported a notable 55 percent increase in consolidated net income for 2023 at P18 billion. Net core banking income – excluding gains on sale of acquired properties – climbed by a record 156 percent year-on-year.

In 2023, PNB was ranked second by Forbes in its list of the World’s Best Banks. In the same year, Asiamoney recognized PNB as the Best Bank for Investment Research in the Philippines for the third consecutive year, while the PNB Digital App was awarded as the Digital Experience of the Year by the Asian Business Review.

PNB posts highest net income growth by 55% in 2023

26 February 2024 — Philippine National Bank (PSE: PNB) recorded a consolidated net income of P18.0 billion in 2023, growing by 55 percent year-on-year on the back of robust net interest income and lower credit provisions. Net core banking income, which excludes gains on sale of acquired properties, climbed by a record 156 percent year-on-year. This translated to an improved return on equity of 10 percent from the 7 percent posted a year ago.

The Bank’s net interest margin widened to 4.2 percent in 2023, compared to the 3.6 percent in the previous year, as the Bank continued its focus on the efficient deployment of funds. Gross loans increased by 5 percent from year-ago to P642 billion by end-2023 as the Bank expanded its lending to the commercial sector and small and medium-sized entities. Likewise, the Bank continued to build up its current and savings accounts (CASA) deposits, growing by 4 percent year-on-year, and accounting for 83 percent of the Bank’s total deposits as of end-2023.

Trading and foreign exchange gains at P1.8 billion rose by more than 4 times year-on-year as the Bank was able to capitalize on market opportunities, despite the limited market liquidity and rising interest rate environment in 2023. The Bank also offloaded certain high-value foreclosed properties as it continues to aggressively dispose off of non-performing assets.

The healthier performance in 2023 was augmented by lower provisions on distressed loans and other credit assets as the market continued to rebound during the year from the lingering effects of the pandemic and other adverse market conditions in recent years.

Operating expenses remained flat at P28.4 billion in 2023 due to prudent spending despite the continued business growth. As a result, cost efficiency ratio improved to 50 percent from last year’s 54 percent.

As of end-2023, the Bank’s total assets stood at P1.2 trillion, increasing by 6 percent from the previous year’s level, buoyed by higher loans and investment portfolio. Meanwhile, the Bank’s capital at P191 billion grew by 13 percent year-on-year, resulting in stronger Common Equity Tier 1 Ratio and Capital Adequacy Ratio of 16.85 percent and 17.7 percent, respectively.

“Our performance for 2023 is a testament to the Bank’s efforts in upholding our vision of being among the top banks in terms of customer growth and satisfaction as well as return on equity,” said PNB President Florido P. Casuela. “We have made it our mission to promote financial prosperity for all Filipinos and their businesses, locally and internationally. Apart from providing financial solutions to our customers, we have made it our purpose to empower them by helping build a competitive, inclusive, and sustainable economy.”

PNB recently received accolades in various areas from several award-giving bodies. The Bank was ranked second in the Philippines in Forbes’ list of World’s Best Banks for 2023. The ranking was based on a worldwide survey of 48,000 banking customers in 32 countries as highlighted in Forbes’ story, “Meet the World’s Best Banks 2023”. Moreover, the PNB Digital App won the Philippines Digital Experience of the Year award under the Banking Industry category at the recently held Asian Experience Awards 2023, hosted by the Asian Business Review. The prestigious award recognizes the enterprising initiatives of companies that deliver meaningful brand experiences to their stakeholders. Further, PNB bagged the award for the Best Bank for Corporate Social Responsibility in the Philippines by the International Business Magazine Awards 2023. The award manifests PNB’s sincerity and commitment to implement a culture of creating a meaningful impact by respecting and supporting communities and the environment.

In 2023, PNB also launched its new tagline, “Every Step Together”, which speaks of the Bank’s renewed brand promise to work in close collaboration with all of its customers and stakeholders.

Forbes ranked PNB 2nd in the Philippine list of World’s Best Banks in 2023

From left to right: PNB President Florido P. Casuela and PNB Marketing Group Head Senior Vice President Jennifer Y. Ng

Philippine National Bank (PSE: PNB) ranked second in the Philippines in Forbes’ list of World’s Best Banks for 2023. The ranking was based on a worldwide survey of 48,000 banking customers in 32 countries as highlighted in Forbes’ story, “Meet the World’s Best Banks 2023”.

In the global magazine giant’s ranking, PNB was among the 415 leading and best banks to appear. With its market research partner, Statista, Forbes gathered the rankings based on surveys where customers rated their current and former banks on overall satisfaction and recommendation, and evaluated them in five key areas – trust, terms and conditions, digital services, customer services, and financial advice.

“It is our great pride to be hailed by the prestigious Forbes as one of the best banks in our country. This is a testament to PNB’s continuous dedication to service excellence,” said PNB President Florido P. Casuela. “We are humbled by this recognition. This further motivates us to continue providing our clients with world-class service in every step of their banking journey with PNB – in all stages of their lives.”

According to Forbes, “Trust was the most important factor that contributed to the success of banks globally. Banks need more than great rates to attract corporate and individual customers. They must also offer quick, multi-channel service – both online and in branches – and use that customer service to earn trust. That may be why some top performers on Forbes’ fifth annual list of the World’s Best Banks aren’t necessarily the biggest game in town.”

Forbes is an American business magazine that is published twice a week with a circulation of over 700 thousand readers around the globe. The magazine is famous for publishing lists and rankings including Forbes 400 and Forbes Global 2000.

PNB donates computers to students of Cavite State University

PNB President Florido Casuela (left) together with Cavite State University’s Department of Information Technology Head Professor Alma Defiesta

3 January 2024 — Aligned with its thrust in corporate social responsibility to help students gain access to a quality learning environment, Philippine National Bank (PSE: PNB) turned over computer units to Cavite State University last December 1.

The activity was led by PNB President Florido Casuela, Information Technology Group (ITG) Head and FSVP Michael Morallos, and Special Assistant to the President and CEO on IT Matters SVP Constantino Yap. A total of 10 repurposed desktop computers and two laptops were donated by the Bank to the beneficiary school.

Since 2019, PNB has been donating repurposed computers to non-governmental organizations (NGOs) and public schools. By advocating the reuse of computers, the Bank continuously sustains its environmental, social, and educational programs.

“Our role as responsible corporate citizen is to help uplift our communities,” Casuela said. “Providing quality education is a structural foundation for building a nation’s future. This donation will help in Cavite State University’s transformative efforts in providing additional computing devices for students as they navigate a world that is increasingly reliant on technology.”

For his part, Morallos said that this is PNB’s way of ensuring that its resources are efficiently used and managed as part of its commitment to the environment. “ITG is one with PNB in ensuring that we reduce our environmental footprint to help protect the planet and to be good stewards of the Bank’s resources.”

Yap enthused that he has been supportive of PNB ITG’s corporate social responsibility projects since 2015, which aligns with President Casuela’s mission, “Think as One, Do as One” or “TODO”.

During the ceremony, Cavite State University’s Department of Information Technology Head Professor Alma Defiesta expressed her gratitude for the Bank’s support and shared a quote from an educator, Jerry Blumengarten – “Technology gives the quietest student a voice.” She added that nowadays digital technology supports online teaching and learning. “We can’t deny that we live in a competitive world where we have to make sure we do not fall behind. It is essential that we stay up-to-date,” said Prof. Defiesta.

As part of its sustainability agenda, PNB remains committed to helping its communities and protecting the environment through significant initiatives that imbibe responsible corporate citizenship.

PNB supports National Banking Week 2024

30 December, 2023 — PNB is one with the Bangko Sentral ng Pilipinas (BSP) in celebrating the National Banking Week from January 1 to 7, 2024. As cited in BSP Circular Letter No. CL-2023-067, this year’s theme is “Financial Stability: Foundation for Prosperity”.

The theme highlights the importance of achieving financial stability for a better tomorrow – starting at a personal level and escalating to the national level. BSP enjoins every Filipino to embark on a journey of financial literacy to learn how to handle one’s finances and be ready to face challenges with a secure mindset. By being intentional in handling hard-earned money, a person enhances his or her own financial well-being. If every Filipino is financially literate and financially secure, the collective efforts would then ripple and help strengthen the nation.

When it comes to stability and reliability, banks are still a top choice in helping people manage and grow their personal wealth. While there are many new ways to manage one’s finances, banks have a pool of economic and financial experts who are well-equipped to give sound financial advice. Banks also have a unified effort to make transactions – whether through traditional or digital channels – more secure and efficient.

In line with the BSP’s thrust for financial stability, PNB is encouraging all Filipinos to learn more about how banking can help them achieve financial goals and work on a more prosperous future for themselves, their loved ones, and – consequently – the entire country.

#NBWeek2024 #FinancialStability #BSP

PNB Digital App named ‘Philippines Digital Experience of the Year’

From left to right: SAVP John Gamit, SAVP Lourdes Atis, VP Catherine Solomon, AVP Moulaine Esquillo-Muyuela, SVP Damasen Cid, President Florido P. Casuela, FSVP Michael Morallos, VP Josephine Caluag, SAVP Jo Seville and SAVP Michael Flores

22 December 2023 — Philippine National Bank’s (PSE: PNB) PNB Digital App won the Philippines Digital Experience of the Year award under the Banking Industry category at the recently held Asian Experience Awards 2023, hosted by the Asian Business Review.

PNB President Florido Casuela expressed that PNB is honored to receive the award for a campaign that reinforces the bank’s position in mobile banking. “With a strong focus on client experience, embracing innovation, and delivering better outcomes, Filipinos can rely on PNB as we continuously provide excellent service through innovative, convenient and secure banking.”

“Delivering a safe, easy and reliable mobile banking experience to our customers is a big part of PNB’s strategic objectives,” said PNB Senior Vice President and Digital Innovations Group Head Damasen Cid. “This award validates our efforts to make banking experience easier and more convenient for our customers. It also reiterates our responsibility and commitment to always keep abreast with fast-changing markets and technologies, enhance user experience, and broaden our array of relevant digital solutions.”

As part of the bank’s digital strategy, PNB revamped its mobile banking app, shifting to a new, highly reliable and secure platform to provide an easy-to-use and intuitive banking application with 24/7 access to relevant mobile banking services and features. Recently, PNB Digital App also earned another milestone by surpassing one million registered users.

The prestigious Asian Experience Awards program, the third since its launch in 2021, seeks to recognize the enterprising initiatives of companies that deliver meaningful brand experiences to their stakeholders.

PNB recognized as the Philippines’ Best Bank for Corporate Social Responsibility

From left to right: Corporate Sustainability Officer Mark Julius D. Meneses, Chief of Staff Atty. Jose German M. Licup, President Florido P. Casuela, Executive Vice President Francis B. Albalate, Corporate Sustainability Department Head Mariamel V. Cordova, and Corporate Sustainability Officer Sarah Mae D. Marcelo.

15 December 2023 — Philippine National Bank (PSE: PNB) was declared as the Best Bank for Corporate Social Responsibility in the Philippines by the International Business Magazine Awards 2023.

Established in 2018, the International Business Magazine Awards honors the extraordinary accomplishments of core corporate players with the objective of highlighting exceptional talents and breakthrough developments. The institution gives the most coveted awards to the most outstanding nominations across various industries.

“At PNB, we encourage the culture of creating a meaningful impact by respecting and supporting communities and the environment,” said PNB President Florido P. Casuela. “This achievement manifests our sincerity and commitment to continuously drive value creation as we do business.”

PNB has been recognized this year by several award programs relating to sustainability and adherence to Environmental, Social, Governance (ESG) standards. The bank was a Four Golden Arrow awardee in the 2023 ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards and has also achieved a double win from Asia Responsible Enterprise Awards (AREA) 2023 under Corporate Governance and Corporate Sustainability Reporting categories.

PNB Digital App breaches 1M mark for registered users

14 November 2023 — Philippine National Bank (PSE: PNB) scored a new milestone as the registered users of the PNB Digital App surpassed one million.

“Reaching more than one million active users reflects the trust that customers have in our digital solutions and services,” said SVP and Digital Innovations Group Head Damasen Paul Cid. “We’re excited to roll out more innovative and customer-centric features and services to make their digital banking experience as safe, simple and efficient as possible.”

Since the launch of the new PNB Digital App in February 2021, PNB has been consistent in introducing new features to enable customers to manage their banking needs in a manner that is most convenient for them. Digital app users can manage their deposit, credit card and UITF accounts; transfer funds and make payments through a variety of modes including the use of QR Codes, and move money via cardless withdrawals. These services are protected by security features such as the PNB Digital Key (Soft Token with Biometrics Authentication), which make transactions more convenient and secure, eliminating the need to input account numbers, passwords and SMS One-Time PINs (OTPs).

The PNB Digital App can be downloaded for free via Google Play or App Store.

As the country continues to adopt more digital finance initiatives, and with the national government supporting the digital strategies of the financial sector, PNB commits to sustaining a convenient, secure, and hassle-free digital banking experience for its customers.