As the theme of PBCom?s 2003 Annual Report declares, we look forward to the future with much optimism as a stronger PBCom rises. The business plan initiated and implemented by the major shareholders and management in the last few years has been instrumental in bringing about a stronger PBCom with sustained profitability assured moving forward.
Indeed, PBCom is now the highest capitalized commercial bank with P9.5 billion in capital funds and carries a clean balance sheet with a non-performing loan ratio of only 11.9% as of December 2003. With a solid foundation, PBCom is now well-positioned for the future.
PBCom?s transformation would not have been possible without the commitment of tangible resources by the major shareholders and their full support of the Bank?s business plans. This commitment has been emphatically proven by their infusion of P3 billion representing an almost 60% increase in paid-up capital.
Together with the business plans the Bank will be implementing such as the continuation of business process improvements, launching of new products and the opening of 36 new branches over the next few years, the Bank is looking forward to the future with optimism and justified hope for a profitable and much stronger PBCom.