MANILA, Philippines - The trust department of the Philippine National Bank (PNB) will be introducing new products as it undergoes organizational restructuring.
PNB Trust Banking Group head Rafael G. Ayuste said that as a direct result of an organizational restructuring that allowed marketing units better focus, its total assets under management (AUM) expanded 28 percent in the first three months of 2010.
“The other factor was the review and improvement of PNB’s array of trust products to ensure that these match the needs of our diverse clientele base,” Ayuste said in a statement.
He added: “Based on its first quarter results, PNB Trust Banking is on track to achieve its targets in 2010.”
PNB Trust offers a suite of products for clients with diverse investment appetites, from the conservative to the aggressive. It is the only bank that offers unit investment trust funds (UITFs) especially designed for overseas Filipino workers (OFWs).
Ayuste added that they have products for investors with short investment horizons of less than one year and also for those with long-term horizon and want to avail of tax-exempt benefits.