Philippine Savings Bank (Hokkien: All-Philippines Savings Bank; Peh-øe-jí: Choân Hui Thí-thiok Gên-hâng; & Mandarin Simplified Chinese: All-Philippines Savings Bank; Traditional Chinese: All-Philippines Savings Bank; Pinyin: Quán Fêi Chúxí Yínháng) (abbreviated PSBank Or PSB) Is A Savings Bank Headquartered In The Philippines. It Is A Subsidiary Of Capital Bank And Is The Second Largest Savings Bank In The Philippines, After BPI Family Savings Bank.
Subsidiaries And Affiliates
PSBank Branch In Pullan, Bulacan
PSBank Is A Subsidiary Of Metrobank And Is Therefore Affiliated With Metrobank. PSBank Is Also Affiliated With Toyota Financial Services Philippines Corporation (TFSPC) And Currently Holds A 25% Stake.
Ownership
- Metropolitan Bank And Trust Company: 75.98%
- PCD Nominated Companies: 5.86%
- Danilo L. Dolor (son Of Doña Soledad Dolor): 5.04%
- Erlinda L. Dolor: 2.95%
- Ma. Soledad S. De Leon: 1.67%
- Public Shares: 4.01%
Competition
PSBank Competes With Other Savings Banks, Such As BPI Family Savings Bank And RCBC Savings Bank. The Bank Also Competes With Multinational Savings Banks Such As Citi Savings Bank And HSBC Savings Bank. However, Since PSBank Is Considered A Large Bank, It Also Competes With The Larger Financial Institution Group. However, It Does Not Actively Compete With Its Parent Company, Metrobank.
Controversies
Impeachment Of Renato Corona
In February 2012, PSBank Officials Are About To Receive Subpoena Requests Related To The Impeachment Of Renato Corona Over Allegations Of A Secret Dollar Account In The Name Renato Corona. PSBank Executives Were Also Asked To Bring Samples Of Consumer Identification And Signed Cards From A Bank Account In Corona's Name That Won 1 Million Pesos In PSBank's Monthly Million-dollar Sweepstakes Promotion.
The Pork Barrel Case
During The Senate Investigation Involving The Priority Development Assistance Fund Scam, Also Known As The Pork Barrel Scam, PSBank Was One Of The Domestic Banks Included In The Senate Investigation Into The Whistleblower's Bank Account. Additionally, The Bank Was Listed As One Of The Banks Used By Senator Ramon Revilla Jr. And His Family, As Well As By Janet Lime-Napoles And His Pseudo-non-governmental Organization To Launder The Controversial "pork Barrel" Funds
