Ricardo V. Carreon

PHILIPPINE VETERANS BANK: A CORPORATE PROFILE Philippine Veterans Bank, also known as PVB and Veterans Bank, is a medium-sized commercial bank in the Philippines. The bank is owned by Philippine World War II war veterans and their families and caters to both corporate and retail financial markets. Today, PVB is ranked 22nd among the Philippines’ 38 universal and commercial banks. At the close of 2013, it had 60 branches nationwide and currently employs about 900 officers and rank-and-file employees. In July 2013, former Finance Secretary Roberto F. de Ocampo, OBE, was elected Chairman of the Board of Directors. Thereafter, five new directors were named to the board including Guillermo L. Parayno Jr., Ma. Nieves R. Confesor, Alfonso B. Cruz, Jr., Judith V. Lopez, and Pablito H. Yap. Veterans Bank’s corporate social responsibility is embodied in the very core of its existence. This fact separates the bank from most private for-profit corporations. At the onset, the bank’s constitutional mandate is to provide immediate and adequate care, benefits, and other forms of assistance to war veterans and their families. Twenty percent (20%) of Philippine Veterans Bank’s profits is given to the Board of Trustees for the Veterans of World War II (BTVWWII) annually. As such, the mission of the bank is to ensure its sustainable profitability and growth.