Question 1

What is PSBank?

Accepted Answer

Philippine Savings Bank, commonly known as PSBank, is the largest savings bank in the Philippines and a subsidiary of Metropolitan Bank & Trust Company (Metrobank). Established in 1960, PSBank serves as Metrobank's consumer and retail banking arm, offering a wide range of financial products and services tailored to retail and consumer markets.

As of December 31, 2024, PSBank operates 250 branches and 528 automated teller machines nationwide, making it one of the most accessible savings banks in the country. The bank is publicly listed on the Philippine Stock Exchange, becoming the first publicly-listed savings bank in the Philippines in 1995.

Question 2

When was PSBank founded?

Accepted Answer

PSBank was incorporated on June 30, 1959, to primarily engage in savings and mortgage banking. The bank opened its doors to clients on September 26, 1960, with its head office located at Plaza Miranda, Quiapo, Manila, then the heart of the country's commercial and business district. The first four branches were established in Divisoria, Carriedo, Blumentritt, and C.M. Recto.

From its inception, PSBank pioneered innovative banking practices that were revolutionary for the era. It was the very first bank in the Philippines to offer Monday to Saturday banking with no noon break, extended banking hours, online electronic data processing systems, and banking-by-mail services. These innovations earned PSBank the nickname "The Friendly Bank" due to its accessibility, convenience, and service quality.

In 1981, Metropolitan Bank and Trust Company (Metrobank), the country's largest bank at the time, acquired majority shares of PSBank, making it a subsidiary. In 2004, Metrobank increased its shareholdings to approximately 88%, and currently holds approximately 76% ownership.

In 1991, the Monetary Board of the Bangko Sentral ng Pilipinas authorized PSBank to perform trust banking functions. In 1995, PSBank was granted a quasi-banking license, previously granted only to commercial banks and investment houses, and became the first publicly-listed savings bank in the country.

Question 3

Where is PSBank headquartered?

Accepted Answer

PSBank is headquartered at PSBank Center, 777 Paseo de Roxas corner Sedeño Street, Makati City, Philippines. This location places the bank in the heart of Makati's central business district, one of the Philippines' premier financial centers.

Question 4

Where does PSBank operate?

Accepted Answer

PSBank operates nationwide throughout the Philippines with an extensive network of 250 branches and over 528 automated teller machines as of December 31, 2024. The bank maintains significant presence in Metro Manila and has strategically expanded to key cities and municipalities across Luzon, Visayas, and Mindanao.

The bank's distribution network includes both traditional branches and in-branch ATMs, as well as offsite ATMs positioned in convenient locations for customer access. PSBank continues to expand its branch and ATM network to increase its presence nationwide and bring banking services closer to Filipino consumers.

Question 5

What services does PSBank offer?

Accepted Answer

PSBank offers a comprehensive range of consumer and retail banking products. Deposit products include savings accounts, checking accounts, and time deposits denominated in both Philippine pesos and U.S. dollars. The bank offers online account opening for savings accounts through its Account Onboarding Facility in the PSBank Mobile App, and existing clients can open peso time deposits via PSBank Mobile/Online.

Lending services include auto loans with approval in as fast as 24 hours, housing loans enabling quick move-in to dream homes, business loans to support enterprise growth, and personal loans that are collateral-free for urgent cash needs. PSBank is affiliated with Toyota Financial Services Philippines Corporation, where it holds a 25% stake, providing specialized auto financing solutions.

The bank offers a variety of payment cards including the PSBank Prepaid Mastercard, which functions as an all-in-one budget card for remittances, allowances, ATM withdrawals, purchases at Mastercard-affiliated stores, and online shopping.

Investment products include Unit Investment Trust Funds (UITFs) allowing clients to diversify portfolios with investment opportunities starting at as low as PhP 10,000. Trust and asset management services help clients preserve and grow their assets according to financial requirements.

Insurance products are offered in partnership with leading providers, including life insurance with guaranteed lifetime coverage and flexible payment terms, health insurance with access to world-class medical care domestically and abroad, critical illness coverage, home insurance, vehicle insurance with 24/7 emergency assistance, and travel insurance.

Digital banking services are provided through PSBank Online, a secure 24/7 internet banking facility, and the PSBank Mobile app enabling real-time banking transactions anytime, anywhere. Digital services include cardless ATM withdrawals, instant cash transfers to loved ones, mobile check deposit, bill payments, fund transfers to PSBank accounts and other banks via InstaPay and PESONet, QR code money transfers, and toll RFID reloading.

Question 6

What makes PSBank unique?

Accepted Answer

PSBank's pioneering spirit in Philippine banking distinguishes it from competitors. As the first bank to offer extended hours, no noon breaks, Saturday banking, electronic data processing, and banking-by-mail in the 1960s, PSBank established a culture of innovation that continues today.

The bank's position as the largest savings bank in the Philippines and its status as the first publicly-listed savings bank demonstrates its leadership in the thrift banking sector. Its affiliation with Metrobank provides financial strength and stability while allowing PSBank to maintain focus on consumer and retail banking.

PSBank has received the highest Issuer Credit Rating from the Philippine Rating Services Corporation (PhilRatings), reflecting strong financial performance and creditworthiness. The bank participates in corporate social responsibility initiatives through partnership with Metrobank Foundation, Inc., supporting programs like Metrobank Foundation Outstanding Filipinos which honors exemplary teachers, soldiers, and police officers.

The bank's extensive digital capabilities combined with its large physical network creates a hybrid model offering both high-tech convenience and high-touch personal service.

Question 7

What type of financial institution is PSBank?

Accepted Answer

PSBank is classified as a savings bank, also known as a thrift bank, under Philippine banking regulations. Savings banks are financial institutions that primarily focus on accepting deposits and providing loans, with a traditional emphasis on serving retail customers and promoting the savings habit among Filipinos.

As a savings bank, PSBank operates under the supervision and regulation of the Bangko Sentral ng Pilipinas (BSP). The bank holds expanded authorities including trust banking functions (authorized 1991) and quasi-banking powers (authorized 1995), enabling it to offer a broader range of services than traditional savings banks.

PSBank is a subsidiary of Metrobank, a universal bank, but maintains its separate identity and thrift bank classification. Deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) up to ₱1 million per depositor, consistent with Philippine banking standards.

PSBank

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About PSBank in the Philippines