PBCom Tower

The Philippine Bank of Communications was incorporated on August 23, 1939 as one of the earliest non-American foreign banks in the country. It received the authority to engage in commercial banking from the then Bureau of Banking of the Department of Finance under the Philippine Commonwealth, with a capitalization of two million pesos. The Bank commenced operations on September 4, 1939. However, operations were temporarily interrupted when World War II broke out. Later in 1945, the bank was reconstituted through the infusion of fresh funds. It came under full Filipino ownership in 1974 when a group of industrialists led by Ralph Nubla, Sr. bought majority of the Bank's outstanding shares.