Our History

The foundation for a bank dedicated to Filipino veterans can be traced to 1956, following the conclusion of the war reparations agreement between the Philippines and Japan. Republic Act No. 1789, otherwise known as the Reparations Law, required Japan to provide the Philippines with US$20 million in cash reparations, which was placed in a Veterans Trust Fund. The fund was intended to benefit World War II veterans, as well as their widows, orphans, and heirs. A portion of this fund was later utilized as the seed capital for the establishment of the Philippine Veterans Bank.

On June 18, 1963, Philippine Veterans Bank (PVB) was established through the enactment of Republic Act No. 3518, which also served as the Bank's charter. Under Section 3(b) of the law, the Bank's authorized capital stock of ₱100 million was divided into 490,000 preferred shares and 490,000 common shares, fully subscribed by the Philippine Government on behalf of Filipino veterans.

During the Martial Law period, the Bank suffered from mismanagement and financial difficulties. As a result, the Central Bank ordered the closure of Philippine Veterans Bank on April 10, 1983.

With the restoration of democracy, the 1987 Constitution reaffirmed the benefits due to Filipino veterans. Through the efforts of the Veterans Federation of the Philippines (VFP), led by Col. Emmanuel De Ocampo, together with Senator Alberto Romulo, Congressman Eduardo Pilapil, and Atty. Romeo Roxas, Philippine Veterans Bank was rehabilitated and reopened under Republic Act No. 7169.

On May 6, 1992, the Central Bank of the Philippines granted Philippine Veterans Bank authority to operate as a private commercial bank, marking a significant milestone in its transformation and growth.

On July 3, 1992, President Fidel V. Ramos formally and symbolically opened Philippine Veterans Bank, signaling the beginning of a new chapter in the institution's history.

On August 3, 1992, PVB officially commenced commercial banking operations with the opening of its Main Office along Paseo de Roxas, Makati City. By the end of the year, the Bank had expanded to nine branches, accumulated ₱4 billion in assets, and announced plans to establish an additional 21 branches nationwide.

In 1993, PVB launched the VeteranTeller ATM Card and became a member of the Megalink ATM Consortium, providing customers with greater accessibility and convenience in banking services.

In 1995, PVB transferred its Main Office to its new headquarters located at the corner of Herrera Street (now V.A. Rufino Street) and Dela Rosa Street in Legazpi Village, Makati City.

Capitalizing on its expanded banking licenses, PVB simultaneously opened 10 new branches in January 2010 in Pasay, Malolos, Santiago, Olongapo, Lipa, San Pablo, Kalibo, Tagbilaran, Pagadian, and Koronadal. This expansion increased the Bank's branch network to a total of 60 branches nationwide.

In 2015, PVB launched its integrated media campaign, "A Bank with a Heart for Every Filipino." The campaign underscored the Bank's commitment not only to veterans and members of the military but also to serving the broader Filipino community. It reinforced PVB's mission of providing accessible, dependable, and compassionate banking services to Filipinos from all walks of life.

On January 21, 2022, Republic Act No. 11597, otherwise known as the Philippine Veterans Bank Act, took effect. Signed into law by President Rodrigo Duterte in December 2021, the new legislation repealed the Bank's previous charters, Republic Act Nos. 3518 and 7169.

The new charter aligned the Bank's governance and operational framework with modern banking standards and industry practices, strengthened its capitalization, and expanded its shareholder base. It also retained PVB's status as an authorized government depository bank.

In 2024, Philippine Veterans Bank announced the appointment of Eulogio V. Catabran III as its new President.

Popularly known as Yul Catabran, he is a descendant of a World War II veteran and joined PVB in September 2024. Prior to his appointment, he served as Treasurer and Head of the Treasury Banking Group of UCPB and held senior leadership positions at Chinatrust and Solidbank. He brings more than 35 years of banking experience to the organization and now leads the Bank's management team in advancing its strategic goals.

In 2025, Philippine Veterans Bank appointed Emmanuel Herbosa as its new Chairman.

A respected banking executive, Herbosa previously served as President and Chief Executive Officer of the Development Bank of the Philippines (DBP). He was elected Chairman during the Bank's organizational meeting, bringing with him extensive leadership experience in both government and commercial banking.

Today, Philippine Veterans Bank continues to modernize its branch network, creating a more welcoming, comfortable, and customer-focused banking experience for the communities it serves.

A key feature of every renovated branch is the Bank's rebranding initiative, which reflects its renewed purpose, enduring legacy, and commitment to empowering generations of Filipinos. At the heart of this transformation is the belief that the strength and pride of the nation are found in the selfless spirit of its people.

The strength and pride of our nation beat in the selfless spirit of every Filipino who helps build our future. From those who bravely stood guard in defense of our freedom to every dedicated individual contributing to nation-building today, their impact is immeasurable.

Yet for too long, many lacked a steadfast and vigilant partner dedicated to securing their financial well-being. At Veterans Bank, we are born of this very spirit. Our legacy is more than history; it is the enduring heartbeat that drives our mission.

We exist to champion the selfless spirit upon which our nation was built and to help propel Filipinos toward a stronger future. As legacy-powered stewards of holistic financial journeys, we safeguard and grow our clients' wealth through vigilance, empathy, meaningful relationships, and dedicated service.

We believe that when service is genuinely championed, it creates lasting impact for individuals, strengthens communities, and contributes to a brighter future for the Philippines.

Veterans Bank
Honoring Heroes, Forging Futures