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Manila Bulletin devider Business devider Banking & Finance devider PBCOM targets high-cost deposit rebalance to sustain 2025 growth

PBCOM targets high-cost deposit rebalance to sustain 2025 growth

Published Dec 26, 2025 12:00 am  |  Updated Dec 23, 2025 04:47 pm
Lucio Co
Lucio Co
Philippine Bank of Communications (PBCom), the lender controlled by retail tycoon Lucio Co, is pivoting toward aggressive expansion of its low-cost deposit base to sustain momentum following its upgrade to a universal banking license.
PBCom, which recently celebrated its 85th anniversary, is looking to accelerate growth in current and savings accounts, known as CASA, through a strategic build-out of its branch network and a surge in sales hiring.
The lender is targeting specific geographic areas selected for their high potential for CASA deposits, which serve as the bank’s primary and most cost-effective funding source. The expansion comes as PBCOM seeks to rebalance its deposit mix.
According to Philippine Rating Services Corp. (PhilRatings), the bank’s ratio of CASA to total deposits stood at 43.2 percent as of September 2025. While this reflected a dip from 50 percent at the end of 2024, the shift was driven by a 35.5 percent surge in higher-cost time deposits, which reached ₱74.8 billion.
PhilRatings expects time deposits and deposit substitutes to remain a significant pillar of the bank’s funding, even as the growth rate for CASA is projected to improve.
The rating agency assigned PBCOM an issuer credit rating of PRS Aa minus with a stable outlook, citing the bank’s strong capacity to meet financial commitments. The rating reflects the bank’s experienced management and the synergies it derives from the ecosystem of its majority shareholder, Co, who also controls the Puregold retail chain.
PBCOM is leveraging this retail connection by deploying “branch-lite” units and pop-up formats within Puregold stores. As of late 2025, the bank operated 96 branches, including four within the supermarket chain, alongside a network of 174 automated teller machines and 144 cash deposit machines.
The universal license, granted by the Bangko Sentral ng Pilipinas, has broadened PBCOM’s scope, allowing it to move beyond commercial banking into more complex areas like investment banking and private equity.
Management is currently focused on addressing a recent dip in asset quality, with plans to stabilize the portfolio by year-end. As of mid-2025, PBCOM ranked as the 17th largest bank in the Philippines by assets and deposit liabilities, and 15th by capital.
Total assets reached ₱182.3 billion by the end of the third quarter.

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Philippine Bank of Communications Philippine Rating Services Corporation Lucio L. Co
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