VETERANS in Pangasinan can rest assured that their bank is in the pink of health, reporting an unaudited net income of P484 million in the first quarter of 2013, surpassing the target of P353 million and 2012 yearend net income of P355 million.

Philippine Veterans Bank (PVB) officials said the substantial gains from securities trading activities augmented the interest income on the loan side, which was effected by the prevailing historical low interest rates.

In terms of total assets, PVB’s total resources stood at P56.93 billion as of the same period, P1.98 billion higher than the P54.95 billion level as of December 2012.

Bank officials credited the growth to the increase in the PVB’s deposits, which were put into incremental loans and marketable securities.

“We’re very satisfied with the Bank’s performance this early in the year, thanks to the support of our clients. We are optimistic that the Bank will meet or even surpass its growth target of P60B total assets by yearend. On the income side, we have already surpassed last year’s annual net income of P355 million.” said PVB president Ricardo A. Balbido Jr.

PVB, owned by some 384,000 Filipino WWII veterans and their widows and heirs, has 60 branches nationwide, including one each with an ATM in Dagupan City and Lingayen plus an ATM station at the Sual Municipal Hall.

Twenty percent of the private bank’s annual net income is given to the Board of Trustees for the Veterans of World War II (BTVWWII), which manages programs for the benefit of WWII veterans and their surviving families.

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