Makati City, Philippines — Philippine Bank of Communications (PBCOM) has been honored as one of the companies listed on Forbes Asia’s prestigious 2024 Best Under A Billion, a selection that highlights 200 leading publicly traded companies across the Asia-Pacific region. To celebrate the recipients’ success, Forbes Asia held a Forum & Awards Dinner in Hong Kong on October 23, 2024.
The Forbes Asia Best Under A Billion list identifies and commends top-performing, publicly listed small and midsized companies with annual sales under $1 billion. From a field of over 20,000 eligible companies, the final list of 200 firms represents outstanding financial performance, sustainable growth, and strategic resilience. The chosen companies are evaluated on key metrics, including debt management, revenue, and earnings-per-share growth, underscoring their capacity to thrive in a competitive economic landscape.
PBCOM joins this esteemed list as one of only three Philippine companies recognized in 2024. Established in 1939 and headquartered in Makati City, PBCOM has distinguished itself through robust trading and foreign exchange gains, reporting $34 million (P1.95 billion) in net income on $163 million (P9.37 billion) in sales. With a valuation of $118 million (P6.8 billion), PBCOM continues to build on its legacy of sustainable performance and commitment to growth.
Reflecting on this significant milestone, PBCOM President & CEO Patricia May Siy stated, “It is an honor to receive the Forbes Asia Best Under A Billion award for PBCOM. This year’s selection focused on mid-sized publicly listed companies that demonstrated resilience and strong growth over the past 3 to 5 years, a period marked by significant challenges. This recognition is a testament to PBCOM’s leadership, strategic focus, and enduring strength as we celebrate our 85th anniversary.”
Siy added, “As we advance toward our 2030 vision, we remain committed to delivering on our growth plans. This award belongs to every stakeholder of PBCOM; together, we have made this achievement possible and look forward to building a future marked by continued strength and resilience.”
PBCOM’s inclusion in Forbes Asia’s Best Under A Billion is a testament to its ongoing commitment to excellence, resilience in the face of economic pressures, and dedication to delivering value for its stakeholders.
