PBB Zambo City Branch opens today PDF Print E-mail
Friday, 15 November 2013 13:02

Philippine Business Bank (PBB), one of the Philippines fastest growing stable banks, will open its 94th branch in Zamboanga City today. The bank is strategically located at the Wee-Agro Building in Veterans Avenue right in front of Zamboanga Doctor’s Hospital.

The opening of the 94th PBB network branch in Zamboanga City shows PBB’s management trust and confidence in the growing economy of the city PBB Zamboanga Branch Manager Jean Mendoza enthused. PBB is a loan bank preferred by small and medium enterprises because of its favorablecredit rates Mendoza revealed.

PBB reported a 34.1 percent growth of net earnings in the first quarter of 2103 to the tune of 593 million.Its total resources increased by 23 percent to P36.2 billion while loans grew 43 percent to P22.09 billion. The bank’s deposits went up also 19.4 percent to P26.32 billion because of the friendly service, low opening and maintaining balance.

In a disclosure to the Philippine Stock Exchange, PBB said the growing treasury markets contributed to the strong performance for the quarter. Its non-performing loan (NPL) ratio likewise improved at 2.51 percent from the end-December 2012’s 3.09 percent. PBB is expected to grow bigger at the year end.

Last July 18, 2013 at the Shangri-la Hotel Singapore,PBB was awarded the Philippines Domestic Technology and Operations Bank of the Year by the Asian Banking & Finance Magazine for its innovation, effectiveness and dynamism of its products and services.