Veterans Bank opens first business center in Cebu to expand services to LGUs, other veterans

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CEBU CITY, Philippines—The Philippine Veterans Bank (PVB) opened its first-ever business center Friday, August 9, to fast track loan applications and to expand its client base. PVB Chairman and Chief Executive Officer Roberto De Ocampo said they opened their first full blown business center in Cebu to highlight its importance. He said they would also […]

Roberto De Ocampo, chairman and chief executive officer of the Philippine Veterans Bank, says they are now expanding their client base with the opening of the first-ever business center in Cebu. /Irene R. Sino Cruz

De Ocampo also clarified that the bank operates as a private commercial bank, not as a government bank as some erroneously thought.The Central Bank of the Philippines granted PVB the authority to operate as a commercial bank on May 6, 1992. It started operation as a private commercial bank on August 3, 1992.

According to De Ocampo, they had to rehabilitate the bank, which had suffered losses about five years ago to make it stronger so it could provide more durable assistance to the veteran community as well as the country as a whole. The bank was able to expand its pension loan portfolio to almost P3 billion, from only P100 million five years ago, he said. “This is just scratching the surface,” De Ocampo said, adding that they expect the pension loan portfolio to expand considerably as they expand this facility to include other veterans and retired members of the Armed Forces of the Philippines.

 

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