Allied Savings Bank is now PNB Savings Bank

Last November 25, 2014, Allied Savings Bank formally changed its name to PNB Savings Bank. PNB Savings Bank is a wholly owned subsidiary and the consumer arm of Philippine National Bank (PNB). The change of name is seen as a validation of PNB’s expansion and strength in the consumer finance industry. It was initiated also to align the image of the savings bank with its mother bank and to capitalize on the brand equity of PNB in the banking industry.

The new corporate identity embodies PNB Savings Bank’s unwavering commitment in the development of its products and services in order to provide the utmost customer satisfaction to its clients. As part of this commitment, PNB Savings Bank is fervently promoting its auto loan program through the Kotse, Kotse, Kooo campaign. Owing to its success, this program has been extended to January 31, 2015.

Dr. Lucio C. Tan is PNB Savings Bank’s Chairman of the Board. Also in the Board are Reynaldo A. Maclang, Michael G. Tan, Harry C. Tan, Lucio K. Tan, Jr., Florido P. Casuela, Felix Enrico R. Alfiler, Cecilio K. Pedro, Gregorio T. Hong, and Fe Chen Urdaneta.

In the first quarter of this year, PNB successfully generated Php 11.6 billion in fresh capital from a stock rights offering. To further strengthen and expand its consumer lending business, PNB infused Php 10 billion from the rights offer as additional equity investment in PNB Savings Bank.

Acting President Mary Ann A. Santos shares, “To date, PNB Savings Bank’s total assets reached Php 15.5 billion that puts it among the top ten thrift banks in the country in terms of assets. With a growing distribution network of 29 branches, PNB Savings Bank is now in a better and stronger position to serve our clients better.”