About bank
The Philippine National Bank, PNB, was founded by the government of the Philippines on July 22, 1916. The bank is headquartered in the old masonic temple along Escolta, Manila. On February 4, 1916, the Public Act 2612 instituted the PNB as a replacement for the ₱1 million agricultural banks owned by the government. The Philippine National Bank was fully privatized in 2007.
The Philippine National Bank is the nation's first universal bank. It is also ranked as the fourth largest privileged Philippine commercial bank with about 670 branches and over 1,500 ATMs located strategically nationwide. The PNB is the Philippine bank with the most extensive international reach, with over 70 overseas branches.
The Philippine National Bank has full ownership of subsidiaries like the National Investment and Development Corporation and a long list of others through which it carries out diversified business-related and financial services.
Features
The Philippine National Bank offers online banking services to its customers and other corporations. They also provide mobile banking (PNB mobile banking app) and 24-hour customer care services. It is the first universal bank in the Philippines. It is a privatized finance and insurance industry that majors in offering a wide range of financial services to its customers worldwide such as cash management, deposit taking, loans and investments, disbursement, and much more.
The PNB had an operating income of ₱759.67 million, a net income of ₱31.7 billion, total assets of 1.19 million, and total equity of ₱161.22 billion within 2020-2021, with over 8,550 employees. Philippine National Bank engages in full-scale banking services in the United Kingdom and China. They also engage in various business and financial-related services such as remittance servicing in Hong Kong, Canada, and the United States. The bank also provides other benefits like life insurance through its affiliates.
Pros and cons
The Philippine National Bank has maintained its position over time as one of the most global banks in the nation. Because this bank has also existed for a long time, it is granted that they have the needed experience to provide reliable financial services. However, you must consider the following advantages and disadvantages of PNB before becoming their customer.
Pros
The bank has several branches and ATMs strategically placed nationwide.
The bank offers 24-hour customer care services.
The bank has an adequately managed banking organization that works systematically to ensure maximum customer satisfaction.
The bank provides a wide range of bank services and products.
The bank offers online banking services to its customers.
Cons
The bank has a poor asset quality compared to other rated local counterparts.
The bank has made it mandatory for customers to visit the bank to make certain transactions and apply for certain types of loans.
Products
The Philippine National Bank offers its customers a wide array of products to provide them with the needed financial and banking requirements and promote their satisfaction. These products are:
Cards. These include credit cards, debit cards, and prepaid cards.
Deposit products. This includes checking, foreign currency deposit, savings, tiered, and time deposit accounts.
Loans. This includes financial products such as OPHL, PNB pangarap, and auto loans.
Investments. This includes appropriate investment solutions to ensure customers adequately safeguard and develop their money. They have UITFs, institutional money market funds, and the Enhanced Phil-index reference fund.
Cash management. This product offers options to maximize your control over various aspects of your finances. They include:
Payments. This includes traditional paper-based and electronic payments. You can resolve government payments to SSS, ADA, BIR, tax ePayment, corporate ePay, auto-pay, paywise, and eGov.
Liquidity. This product identifies the parent and satellite account among the account numbers the customer enrolls and programs instructions for the automatic transfer of funds between such accounts.
Collections. This includes the PDC online, cash move, electronic payment and presenting, eCollect, and automatic debit arrangement. You can use these products to make your collection activities more accessible and efficient.
Accounts. This allows you to manage and organize your accounts by grouping them into similar modules.
Utilities. This allows you to conveniently send your collections or payment instructions through a file upload.
Cash net plus system security. This product offers a robust security system that helps in controlling your access to data, enforces accountability, regulates decision-making authority, prevents unauthorized data modification, and ensures that the information is accurate.
Insurance. This includes the PNB life insurance and non-life insurance products.
