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PNB President & CEO Wick A. Veloso (center) cuts ribbon to open the new corporate office of PNB Remittance Centers, Inc. in Glendale, together with PNB Retail Banking Sector Head & EVP Bernie H. Tocmo (left) and PNB RCI President & CEO Nelson V. Javier.

(May 30, 2019, Glendale CA) – Philippine National Bank (PSE: PNB) formally opened the doors of PNB Remittance Centers, Inc. (RCI) corporate office in its new home at 225 West Broadway, Suite 301, Glendale, Los Angeles County, California.

“Remittances evidently comprise the biggest financial inflows for developing economies,” said PNB President & CEO Wick Veloso. “As PNB gears for safe yet aggressive growth while supporting our government’s initiatives, we ensure that the hard-earned money of our kababayans abroad are sent conveniently to their loved ones back home.”

An indirect, wholly-owned affiliate of the bank, RCI was incorporated in October 1990 as Century Finance and Remittance Centers, Inc. and licensed by the California Department of Financial Institutions as a transmitter of money abroad in 1991. RCI currently serves as one of the biggest Philippine bank–affiliated money transmitters catering to the remittance needs of Filipinos in the United States. The relocation was part of the bank’s strategy to address the financial needs of a wider customer base in the San Fernando Valley area of Los Angeles County.

Through this move, PNB RCI aims to serve the remittance needs of more Filipino consumers in Glendale and its neighboring cities of Los Angeles and Burbank.