Background: Philippine Veterans Bank

Background Information onĀ Philippine Veterans Bank in case you want to purchase one of their Acquired Assets

From the time the Bank was established in 1963 up to its closure in 1985, the veterans only received P28 in cash dividends. With the reopening of PVB in 1992, the new leadership of the Bank saw to it that the veterans partook in the success of the Bank. As a result, PVB never failed to declare and distribute cash and stock dividends annually since then.

To date, a total of P2.54 billion in stock and cash dividends have been declared by the Bank. Consequently, the shareholding of each veteran grew tremendously by 2,850 percent (the highest so far in the industry) from one common share and one preferred share valued at P200.00 to 54 common shares and 10 preferred shares valued at P6,400.00.

To the ailing and elderly veterans, free medical care and medicines are provided by charitable institutions that are financially supported by the Bank. For one, the VFP Out-Patient Center in Taguig, was established by the Board of Trustees for the veterans of World War II out of funds remitted to it by PVB as mandated by law. The Center, which is equipped with modern medical facilities and manned by a dedicated corps of medical professionals, continues to provide dental and medical services, medicines, including the provision of eyeglasses and dentures free-of-charge to veterans, their widows and orphans. Moreover, the Bank gives veterans preferential treatment on their deposit and loan transactions. PVB gives preference in employing their children and grandchildren.

Given this opportunity to chart the destiny of their Bank and knowing that the veterans, are now in their twilight years and must continue enjoying their benefits, the PVB leadership has firmly resolved to continue establishing a solid reputation for growth and build the Bank into a truly lasting legacy to the nation and succeeding generations.

Click here if you wish to see Philippine Veterans Bank Acquired Assets.

 

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