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Central Bank of the Philippines
» Philippine Bank of
Communications |
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The Philippine Bank of
Communications (PBCom) was incorporated on August 23, 1939 as one of the
earliest non-American foreign banks in the country. It received the
authority to engage in commercial banking from the then Bureau of Banking of
the Department of Finance under the Philippine Commonwealth, with a
capitalization of two million pesos. The Bank commenced operations on
September 4, 1939. However, operations were temporarily interrupted when
World War II broke out. Later in 1945, the bank was reconstituted through
the infusion of fresh funds. It came under full Filipino ownership in 1974
when a group of industrialists led by Ralph Nubla, Sr. bought majority of
the Bank's outstanding shares. PBCom acquired a license to operate as an
expanded commercial bank from Bangko Sentral ng Pilipinas on December 24,
1993 and operated as such until the year 2000. In order to concentrate on
its strengths and maximize utilization of available resources, the Bank
applied with the Bangko Sentral for a conversion of the expanded commercial
bank license into a regular commercial banking license.
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The Monetary Board approved
in its Resolution No. 508 dated March 31, 2000, the amendment of the Bank's
license. PBCom has since opted to capitalize on its strength by focusing on
and pursuing traditional commercial banking operations. On December 2000,
the Bank acquired 100% of Consumer Savings Bank as part of its strategy to
expand its consumer banking business. Over the years, PBCom posed consistent
growth with resources and capital reaching P41.6 billion and P3.6 billion,
and has a total of 64 branches nationwide and 924 employees in 2010. |
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Philippine Bank of Communications
Category : Universal & Commercial Banks
SWIFT Code : CPHIPHMM
Address :
6795 Ayala Avenue corner V.A. Rufino St
Makati City
1226 Philippines
Telephone : (63) 2 830 7000
Website : www.pbcom.com.ph |
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The business and affairs of
PBCom are subject to the general oversight and authority of the Board of
Directors. The Board has adopted a Corporate Governance Manual at the start
of 2003. Together with our Certificate of Incorporation, Bylaws, and
charters of Board Committees, these guidelines provide the authority and
practices for governance of PBCom.
Recognizing that ethical behavior is essential to our success, the Board
also has enhanced the Code of Conduct for all employees and Directors. The
Code incorporates our statement of principles and provides the framework for
maintaining the highest standards of professional conduct for PBCom. By
adhering to the Corporate Governance Manual and the Code of Conduct, we
ensure that the long-term interests of our shareholders are best served.
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