Philipine Business Bank ripples Zamboanga City's economy PDF Print E-mail
Friday, 29 November 2013 00:00

The opening of Philippine Business Bank (PBB) Zamboanga Branch is creating a good economic image and a sign of progress for Zamboanga City.  PBB Zamboanga Manager Jean Mendoza, in behalf of PBB top management, is grateful that her branch is hitting its target of deposits and investments since its opening day last November 15, 2013.  This disproves the thought of the negative impact of the Zamboanga siege, wherein business will pull out including down flow of cash transactions in our city. PBB has full trust and confidence in our city.

PBB posted a net profit of P1 billion in the third quarter, 61% higher than a year ago. As of end September, total net loan level stood at P28.2 billion, 35% higher than year-ago figures. The bank attributed the growth to increased business activity in the SME (Small Medium Enterprise) market. Zamboanga is the 94th network bank of this fastest growing savings bank that aims to partner with local SME growth and development.

"PBB has helped sustained the local economies by providing the SMEs tailor-made banking facilities in the different industries like agriculture, handicrafts, transportation and tourism," Rolando R. Avante, PBB president and CEO, said. He added, “We visualize PBB to be the lender of choice for small and medium enterprises (SME) in the banking industry that builds a strong and secure economic bridge between the demands of our present societies and aspirations of our future generations.”

Here are more pictures of the PBB Zamboanga opening day. City Mayor Beng Climaco-Salazar was the special guest attended by prominent people from the business and government sectors as well officers from other banks.

By Dante Corteza

Psalm 118:24 “This is the day that the Lord has made; let us rejoice and be glad in it.”