The bank was named top taxpayer of Caloocan City for the year 2003 by the Bureau of Internal Revenue regional district office.
PBB’s total resources expanded 27 percent to P5.466 billion in 2003. Earning assets, similarly reached a high of P4.94 billion. The bank has been extremely conservative in providing for the loan-loss allowance. During the year, the bank provided for all the specific and general loan-loss reserves, over and above the amount required.
Also in 2003, the major stockholders of the bank infused P120 million via preferred shares in addition to their original capital infusion of P420 million. Total capital funds at year end stood at P673 million, surpassing the mandatory requirement of P650 million, which as mandated by the Bangko Sentral ng Pilipinas is not due until 2007. The year end risk based capital adequacy ratio increased by 23.60 percent compared to the present requirement of 10 percent.
PBB enjoys the privilege of credit facilities extended by the Bangko Sentral ng Pilipinas via the BSP rediscounting window, the Social Security System credit facility, the Development Bank of the Philippines credit lines and Philippines Business for Social Progress standby lines. During the year, PBB was also granted a trust banking license and a quasi banking license by the BSP and Securities and Exchange Commission.
Spread over Metro Manila and Luzon, the bank’s head office and 17 branches surpassed year-long targets and posted gains in their deposit targets. Comprising niche clientele of small and medium scale businesses, the bank serves the needs of this highly diversified market. This year, PBB plans to open at least five more branches to complement the existing branches and better reach a growing clientele in areas where the target markets are located.
A continuing training program for officers and employees focuses on developing a strong career path in banking to enhance professionalism and their knowledge base, and the latest trends in customer servicing and satisfaction.
The bank’s board is composed of the following: Alfredo M. Yao, chairman; Francis T. Lee, vice chairman; Rodulfo F. Besinga, president; and director Roberto A. Atendido, Benjamin R. Sta. Catalina, Jeffrey S. Yao, Armando R. Bonifacio, Amador T. Vallejos and Dr. Leticia M. Yao.