Thursday, 23 May 2024

PNB Savings Bank was awarded The Consumer Finance Product of the Year for 2018 at The Asian Banker Philippines Country Awards 2018

5 min read

By The Asian Banker

  • PNB Savings Bank’s ‘Smart Personal Loan’ addresses customer needs by offering flexible loan plans bundled with insurance coverage
  • The bank’s ‘Smart Personal Loan’ adds value to its customers by bundling numerous benefits with the loan
  • The bank’s ‘Smart Personal Loan’ achieved a sound financial performance

Mr. Foo Boon Ping ( Managing Editor of The Asian Banker), Mr. Christopher Gene Lapuz ( Head of Marketing Division at PNB savings), Mr. Jovencio Hernandez ( President of PNB Savings), Mr. Ralph Benedict Centeno (Vice President of Multi – Purpose Loan Group Head), Mr. David Gyori ( CEO of Banking Reports) and Mr. Richard Hartung ( Managing Director of Transcarta)

Manila, October 5th 2018 —PNB Savings Bankreceived The Consumer Finance Product of the Year awardfor the Philippines in 2018 at The Asian Banker Philippines Country Awards 2018. The awards ceremony was held in conjunction with the prestigious The Future of Finance Philippines 2018, the annual gathering for decision makers in the financial services industry in the country, held at the Fairmont Makati, Manila on October 5th, 2018.

 

PNB Savings Bank’s ‘Smart Personal Loan’ addresses customer needs by offering flexible loan plans bundled with insurance coverage

 

PNB Savings Bank’s ‘Smart Personal Loan’ is a multi-purpose loan that offers double insurance coverage. The loan, with plans from $460 (PHP 25,000) up to $18,427 (PHP 1 million), can be used for numerous purposes, and has a low interest rate, with light and flexible payment terms ranging from 1 to 3 years. The insurance covers life and accidental death through the bank’s partner, Allianz PNB Life, up to twice of the principal loan amount to a maximum of $18,427 (PHP 1 million).

 

The bank’s ‘Smart Personal Loan’ adds value to its customers by bundling numerous benefits with the loan

 

PNB Savings Bank’s ‘Smart Personal Loan’, differentiates itself by adding value to customers through the numerous benefits that it offers, bundled with the loan. For example, through the bank’s partnership with Medgate, a leading provider of telemedicine, customers are able to receive free access to six telemedicine services per year until the maturity of their loan.

The bank’s ‘Smart Personal Loan’ achieved a sound financial performance

The ‘Smart Personal Loan’ has significantly generated loan bookings since its launch in 2017, with an outstanding loan portfolio of approximately $29 million as of July 2018. Loan bookings for the product contributed at least 30% to the overall multipurpose loan booking for the bank. Furthermore, the net interest margin (NIM) of the product as of the end of July 2018 was recorded at 16%.

 

About The Asian Banker

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com

 

For all Business Achievement Awards 2018 photos, please visit

https://www.facebook.com/pg/TheAsianBanker/photos/?tab=album&album_id=10156587646114804

 

For further information on the collaterals for winning banks, please contact:

Mr. Foo Boon Ping

Managing Editor

Tel: (+65) 6236 6526

bpfoo@theasianbanker.com

www.theasianbanker.com

 



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