Philtrust Bank (Philippine Trust Company); Now a Universal Bank as Approved by the Bangko Sentral Ng Pilipinas and Securities and Exchange Commission

Article excerpt

On June 5, 2007, the Bangko Sentral ng Pilipinas granted authority to Philtrust Bank (also known as Philippine Trust Company) to operate as a universal bank. The Securities and Exchange Commission duly approved the registration of the Bank's Amended Articles of Incorporation, with powers among others, to engage in the business of expanded commercial banking as a universal bank, to carry on the business of a trust company, exercise the powers of investment houses as provided in pertinent laws and the power and authority to invest in the equity of allied and non-allied corporations, businesses or undertakings, and to perform such other acts and functions as may be permitted by law.

Philtrust Bank, established on October 21, 1916, will celebrate 91 years of banking service to the nation this year. It has acquired a reputation for conservatism and reliability, enjoying the trust and confidence of the business community and the general public.

The Bank has total assets of P57. …