PSBank targets to open 20 new branches this year


Posted at Feb 12 2014 10:28 AM | Updated as of Feb 12 2014 06:32 PM

MANILA, Philippines - Philippine Savings Bank (PSBank) is planning to open 20 new branches this year.

PSBank, the thrift bank arm of the Metrobank Group, is expanding its branch and ATM network this year, as it seeks to reach more Filipinos especially those in the countryside.

"The additional branches show our commitment to reach more Filipinos. We believe that our increased accessibility, coupled with our thrust of simple, reliable banking is a good starting point for our kababayans to make PSBank their partner in preparing for the future,” said PSBank President Vicente Cuna, Jr.

As of end 2013, PSBank had 224 branches nationwide and 550 ATMs.

A recent study on the state of financial inclusion in the Philippines showed that 611 cities and municipalities out of 1,634 nationwide do not have a single bank branch while only six out of 10 Filipinos have a bank account.

“We will continue putting up more branches this year to advocate financial inclusion among Filipinos," Cuna said.