Veterans Bank to relaunch branch in Davao City | SunStar

Veterans Bank to relaunch branch in Davao City

Time to read
1 minute
Read so far

Veterans Bank to relaunch branch in Davao City

Thursday, May 04, 2017

TO FURTHER extend their bank services not just to the World War 2 veterans but also to the veteran descendants, the Philippine Veterans Bank of Davao City at C.M. Recto St. will hold its re-inauguration on May 5, Friday.

Veterans Bank Vice President and Corporate and Consumer Relations Division Head Miguel Angelo Villa-Real said they would want to cater to a market that is not the primary market of the bigger banks and other financial institutions. Villa-Real said they are trying to find their niche that they can specifically cater to.

Although their beneficiaries would not only be limited to veterans anymore, Villa-Real said they are going to retain the bank’s name as it was mandated by law.

“We’re trying to reach the descendants. Many of them are prominent people. Many of us do not know that we are descendants of World War 2 veterans,” he said, also adding that by August, together with their anniversary, Veterans Bank targets to relaunch a website that would assist younger generations to find out if their grandparents are veterans of the war.

He said this was initially launched a few years ago although not a lot were very interested before.

Also as mandated by the law, veterans are stakeholders and part owners of the Philippine Veterans Bank, and so upon these veterans’ death, an heir will have to take over this ownership, as per Villa-Real.

A veteran has around P7,200 stock under their name and according to Villa-Real, some of these checks had already been sent to the families while they are still trying to trace up the remaining 30 percent which he believes some are not aware that they are veteran descendants while some have already migrated abroad after the World War 2.

On May 5, the bank will open to the public its History Wall in the branch, showcasing an array of World War 2 photographs and video presentations. This will be open to everyone even those who have no accounts in the bank.

“This is not just a normal blessing of the bank. We’re also inaugurating our history wall. Of course the bank itself has been transformed. It doesn’t look like a bank now. It’s very modern. It looks more like a hotel lobby than a bank branch. So that’s what we’re trying to do. We’re trying to modernize Veterans Bank at the same time, paying tribute to the World War 2 Veterans and the local history wherever the branch is. Each branch actually has a different story,” he said adding that the veterans’ story in Davao City is particularly special as the city was the first to be bombed and the last to be liberated from.

Aside from the veterans’ descendants, the bank, with its new face now, also eyes to cater to micro, small, medium enterprises providing loans to them especially for their working capitals and the Armed Forces of the Philippines retirees.

Published in the SunStar Davao newspaper on May 04, 2017.

Latest issues of SunStar Davao also available on your mobile phones, laptops, and tablets. Subscribe to our digital editions at and get a free seven-day trial.

View Comments