Veterans Bank drives digitization and changes

The Chairman and Chief Executive Officer (CEO) of PHILIPPINE Veterans Bank (PVB) said it is moving ahead with digitization and boardroom change, among other initiatives, to promote financial inclusion.

“The entire banking sector in the Philippines is strengthening itself… by facilitating transactions and facilitating pressure for financial inclusion and the ability to provide the financial resources that the public needs,” said Roberto de Ocampo, Chairman and CEO of PVB. During Saturday’s “Business and Politics” program, hosted by Manila Times Chairman and CEO Dante Francis “Clink” Ang2, on Sonshine Media Network International.

Financial inclusion refers to the availability and equal access to financial services, including banking products, loans, stocks and insurance.

De Ocampo said the “strict” measures to modernize the bank’s systems will extend to the board level, to increase professionalism and integrity.

These would make PVB, which primarily caters to Philippine Army veterans and their families, active soldiers and other uniformed services as a “serious financial entity”.

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Because during Covid [pandemic]we [PVB] We spent our time amending the charter. We hope to extend our assistance to all veterans.”

He noted that the bank, which he described as “a memorial to our heroes who fought for our freedom and the fighters who fought in World War II,” had closed several times previously for its mismanagement.

With PVB now back in “good shape” after nearly two years of the pandemic, de Ocampo asserted that the “lucky sums” the bank acquired along with the shareholder interest in bringing equity to the bank would provide a significant expansion of its lending capabilities.

Former President Rodrigo Duterte approved changes to the bank’s charter in 2021. Republic Act 11597, which Duterte signed on December 10, 2021, increased PVB’s capital to 10 billion pesos from 100 million and expanded the board of directors to 15 members from 11, among others. .

De Ocampo, the son of a World War II veteran and finance minister during the Ramos administration, was appointed to head the commercial bank in 2013.

Marcus is on the right track.

He praised President Ferdinand “Bongbong” Marcos Jr. for continuing the Duterte administration’s building, construction and construction program, saying it would help the economy recover from the impact of the COVID-19 pandemic.

He added that the proposal to merge the state-owned Philippine Land Bank and the Development Bank of the Philippines will also facilitate channeling the required funds to priority sectors.

With inflation weighing on growth in 2022 and likely to slow expansion this year, de Ocampo also welcomed the government’s move to extend tariff cuts on imports of pork, rice, corn and coal through the end of 2023.

However, he said that Marcos – who took over the agriculture portfolio – needs to work on developing the agricultural sector in light of high prices and lack of supply.

“[I]If we don’t, we will cry over the price of onions and farmers will always depend on middlemen [to sell agriculture goods],” He said.

“Some people are disappointed with the president to head the DA, but if he [Marcos] Decide [on] Pioneering decisions… Then amending the agrarian reform law is not a bad idea, “said de Ocampo.

As for the war in Ukraine – the main driver of supply shortages around the world – de Ocampo hoped “cooler heads will prevail” with the conflict now entering its second year.

“We don’t know how that will happen in the Ukraine conflict, and that’s right [being viewed] As a proxy war between [the] The United States and Russia with Ukraine battlefield.

De Ocampo also raised the possibility of an “all-out war” in which Russia has not ruled out the use of nuclear weapons.

He said Marcos was right to try to keep the Philippines out of the conflict.

“we [Philippines] You don’t want to be caught up in a proxy war, which is why we encourage it [the government] Let’s talk diplomatically.”

“We are everyone’s friend and nobody’s enemy, and we must stick to that if we want to promote [ourselves as] An honest broker in the room like ASEAN (Association of Southeast Asian Nations).

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