To my fellow Shareholders,

It is with great pleasure and excitement that I write you today, as we celebrate another milestone in the history of our bank, PBCOM. As many of you may have heard, we were granted a Universal Banking License by the Bangko Sentral ng Pilipinas last year after a rather arduous evaluation process which we passed with flying colors.

This achievement serves as a testament to the success of our business model, which we embarked on almost ten years ago. The successful transformation of our Bank was built on the main pillars of robust compliance and risk management procedures, customer-centered service, and a truly independent governance structure. The major shareholders’ commitment to these principles have now been recognized by the BSP.

PBCOM’s success of the past years would not have been possible without the support of Mr.  Lucio Co and the Lucio Co Group. Our partnership, which began in 2013, has led to steady increases in our profits and the strengthening of our capital base. Today, we are in the best position to expand our banking activities as a Universal Bank to cater to the evolving needs of our customers.

“Together We Grow” has been our corporate promise in recent years, and we are determined to uphold that commitment more than ever. We have indeed grown. And we believe that we have been instrumental in the growth of our valued customers. This would not have been possible without the help of our loyal shareholders and our team of dedicated employees for which this message is meant to convey our heartfelt gratitude.

We are starting a new chapter in PBCOM’s long history amidst a very challenging economic environment and intense competition. But I am confident that we will continue to prosper under the tutelage of your Board of Directors and the Management team, and with your continued support, we will be even better in 2023.

Eric O. Recto, Chairman