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词条 Overseas Filipino Bank
释义

  1. History

  2. Conversion to Overseas Filipino Bank

  3. See also

  4. References

  5. External links

{{refimprove|date=January 2014}}{{Infobox company
|name = Overseas Filipino Bank
|former_names = Philippine Postal Savings Bank, Inc
{{small|(until 2018)}}
|logo = Overseas Filipino Bank (OFBank).svg
|logo_caption = Logo
|image=Overseas Filipino Bank Head Office.jpg
|image_caption=OFBank Head Office in Liwasang Bonifacio, Manila
|type = State-owned
|slogan =
|foundation = Manila, Philippines
({{Start date and age|1906|05|24}})
|location = Manila, Philippines
|key_people = Alex V. Buenaventura, (Chairman)
Renato G. Eje, (Vice Chairman, President and CEO)
|industry = Finance and Insurance
|products =
|homepage = {{URL|www.overseasfilipinobank.gov.ph}}
|parent = Land Bank of the Philippines
|net_income = P19.2 million PHP ({{loss}}11%) (2008)[1]
}}

The Overseas Filipino Bank (OFBank) is the state-owned bank in the Philippines. Formerly known as the Philippine Postal Savings Bank (PPSB) or PostBank, it is the smallest of the Philippines' three state-owned banks (the others being Land Bank of the Philippines and Development Bank of the Philippines), and is the 16th largest thrift banks in terms of assets. Since 2018, it has been owned by the Land Bank.

History

Established as Philippine Postal Savings Bank in 1906, the bank was closed in 1976 as a result of competition with privately owned banks, but was reopened in 1994 pursuant to the provisions of Republic Act No. 7354, the charter of the Philippine Postal Corporation.[2] In 2013, the bank rebranded its operations as "Postbank".[3] Despite the legal affiliation, the PPSB is governed separately from PhilPost.

Conversion to Overseas Filipino Bank

On November 16, 2016, Land Bank of the Philippines announced plans to acquire Postbank and is targeted to be a lending bank for the Overseas Filipino Workers and their families.[4]

President Rodrigo Duterte issued Executive Order No. 44 in September 2017 which mandates the Philippine Postal Corporation and the Bureau of the Treasury their PostBank shares to Land Bank at zero value. The edict also states that PostBank will be converted to the "Overseas Filipino Bank".[5]

The Monetary Board of the Bangko Sentral ng Pilipinas approved Land Bank's acquisition of PostBank on December 2017 while the Philippine Competition Commission authorized Land Bank to acquire PostBank on January 11, 2018.[5] The bank was inaugurated as the Overseas Filipino Bank at the Postbank Center by President Duterte on January 17, 2018[6]

See also

  • List of banks in the Philippines

References

1. ^{{cite web|url=http://www.postbank.gov.ph/about4.asp |title=PostalBank |publisher=PostalBank |date= |accessdate=2014-01-15}}
2. ^Alfredo Rosario, [https://web.archive.org/web/20140610224001/http://www.highbeam.com/doc/1P3-1041898681.html "From the Sidelines: A Bright Future for the Postal Bank"], The Manila Times, May 25, 2006 {{subscription required|via=HighBeam Research}}
3. ^[https://www.questia.com/read/1G1-353177169 "Postbank: Surviving the Changing Times"], Manila Bulletin, December 17, 2013 {{subscription required|via=Questia Online Library}}
4. ^http://news.abs-cbn.com/business/11/16/16/land-bank-to-buy-postbank-convert-it-to-ofw-lender
5. ^{{cite news|title=Launch of OF Bank fulfills PRRD’s campaign promise|url=https://www.dof.gov.ph/index.php/launch-of-of-bank-fulfills-prrds-campaign-promise/|accessdate=18 January 2018|publisher=Department of Finance (Philippines)|date=17 January 2018}}
6. ^{{cite news|last1=Gita|first1=Ruth Abbey|title=Duterte inaugurates OFW Bank|url=http://www.sunstar.com.ph/manila/business/2018/01/18/duterte-inaugurates-ofw-bank-584521|accessdate=18 January 2018|work=SunStar Philippines|date=18 January 2018}}

External links

{{commonscat inline}}
  • {{Official website|http://www.postbank.gov.ph/}}
{{Overseas Filipino Workers}}

5 : Banks of the Philippines|Postal system of the Philippines|Companies based in Manila|Government-owned and controlled corporations|Overseas Filipino Worker

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