PNB tops BSP OFW remittance awards

PNB tops BSP OFW remittance awards

The Philippine National Bank was honored by the Bangko Sentral ng Pilipinas as the Commercial Bank of the Year on OFW Remittances for 2005. The distinction was the highest award given in the first ever BSP Awarding of Stakeholders, which also issued commendations to banking institutions that have done well in reporting the developments of their OFW Remittance businesses to the BSP. The award was personally handed out by newly-installed BSP Governor Amando Tetangco.

PNB’s award affirmed the Bank’s continued market leadership in the OFW remittance business and substantiated its claim as the bank of choice among Global Filipinos.

Members of the BSP judging panel were said to have been impressed with PNB’s having cornered the lion’s share among local commercial banks all throughout the five-year coverage of the competition’s OFW remittance performance reviews. For many years now, PNB has established itself as the undisputed leader in servicing the remittances of Filipinos all over the globe. In 2004 alone, the Bank was able to service almost a third of all remittance businesses coursed through the country’s banks.
PNB is the Philippines’ most global bank having a total of 324 branches nationwide and 97 overseas offices and branches worldwide.

While elated with the award that the Bank received, PNB President and CEO Omar Byron T. Mier was intent on further strengthening the Bank’s competitive advantage. “We are proud of our market leadership but are also committed on further growing it by providing our Global Filipinos with a menu of products and services that will perfectly suit their needs,” Mr. Mier said.

PNB’s latest award was a quick addition to the Bank’s recent bagging of a second consecutive Gold Superbrand award from the international publication Reader’s Digest. From what the Bank still has in store for its OFW market, it sure looks certain that PNB will leave no stone unturned to keep its name carved in gold.

“In just a matter of days, our OFW market will see just how PNB values them. Our forthcoming initiatives will not only make them feel honored but will actually provide them with new banking opportunities we know they will surely appreciate,” Mr. Mier promised.

(PRESS RELEASE)