Bank targets to increase more in assets

THE Philippine Veterans Bank (PVB) is eyeing more billions in their total assets as it opens more branches in the country, including one in Western Visayas.

PVB, who has now 60 branches around the country including some here in Bacolod City and the rest of Negros Occidental, has opened 10 more branches including one in the neighboring Kalibo, Aklan province.

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In its yearend report, PVB posted close to a P52-billion in assets compared to P45 billion in 2008 and P5 billion in its capitalization.

PVB President Ricardo Balbido said, "As a bank, increasing our branch network is the only way to grow the business and meet the growing needs of our customers and shareholders. Most of the locations are in key cities outside Metro Manila where we prioritize to establish our presence."

The bank is targeting a 15 percent or close to P60 billion growth in their total assets this year.

Its Bacolod Branch hit controversy reportedly involving of a loan it approved with the City Government amounting to P250 million. Such was intended for the relocation project of the city.

To date, PVB has a total of 106 automated teller machine (ATM) units serving its clients nationwide who are card holders totaling 184,000.