THE right place at the right time bodes good things for the right endeavor. PNB puts itself right smack dab in the heart of the Filipino American community.
This is wonderful news. It is, by and large, a terrific calculated business move to be closer and be accessible to the people that PNB serves.
PNB’s office is now located at 3435 Wilshire Boulevard, Suite 104, at the foot traffic level of the Equitable Plaza Building in Los Angeles, California 90010.
Why is this a great move? It is the same building where the Philippine Consulate holds office. If things pan out in due time, an office for the Philippine Social Security Administration will likely be in the same location. And about time too.
Those who regularly remit to family and friends in the Philippines and who live and work in the neighborhood will find it easier to go to this location once it is set up to do so. Its accessibility to the consulate makes required documentation for business, travel and other matters more convenient.
The move is also brilliant and propitious. The economy is on the uptick in both the US and the Philippines. It is a trend worth noting particularly for those mulling the possibilities of straddling both countries — of enjoying their lives living part of their retirement years in America and part of the time in the Philippines.
Philippine real estate developers know that Filipino Americans who have worked practically all their lives are having more of the resources and the wherewithal in the current bullish economy, to buy property in the Philippines and would need readily available financing. This is where PNB comes into play.
With its unique OPHL program (Own a Philippine Home Loan) which they have been offering efficiently and effectively to many US expatriates for decades now can and do provide this financing.
The timing is close to perfect. A cursory look at the mushrooming vertical and horizontal developments found in the Philippine metropolis and other parts of the country indicate increasing confidence among consumers looking to buy Philippine property.
There is positive indication of a significant segment right here in the Greater Los Angeles County that is in a position to buy property through their savings, pensions, income from social security or sizable nest eggs. These are serious buyers who are looking to secure loans to flesh out their dreams of owning a home or perhaps, even add to their investment portfolio.
PNB Los Angeles Branch, headed by its First VP and General Manager Edith Manalad, officially opened its doors at this new office on April 29, 2019. Its blessing, grand opening and inauguration was held the following day with a good number of friends and associates in the business community gracing the occasion and enjoying the sumptuous food spread, the treats, the great ambience and even grabbing the lucky coins that were tossed for good luck at the well-planned and seamlessly executed inaugural event.
PNB LA also put out the welcome mat for visiting high-ranking officials from the Philippines among whom was Executive Vice President Bernie Tocmo and his party who flew in to grace the event and inspect the new office.
Cutting the ribbon is Consul General Adel Cruz of the Philippine Consulate in Los Angeles with the assistance of Edith Manalad, First Vice President/General Manager of PNB LA. Fr. Percy of the Missionaries of Jesus and the Parish Priest of St. Kevin Church blessed the office premises.
Also in attendance is Nelson V. Javier, President & CEO of PNB Remittance Centers, Inc., a PNB bank affiliate, which is charged with overseeing the multiple branches of the biggest, if not one of the biggest remittance companies serving the Filipino community in the US.
PNB LA aims to serve not only its existing customer base built over the years but also the banking needs of the Filipinos and Filipino-Americans who transact business with the Philippine Consulate. The new office will allow PNB LA to cater to more clients for bank services as it will soon accept over-the-counter remittance transactions.
The transfer to the new location is also in line with the Bank’s strategic plan to laser focus on its home loan known as the Own a Philippine Home Loan (OPHL), a home financing program available for all US-based persons who are interested to invest in real estate in the Philippines. Turn around time will be shorter because of its proximity to the consulate, one floor up, where loan documents are submitted for consularization, which is simply the process of authenticating any legal document.
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