PHILIPPINE Veterans Bank (PVB) named Renato A. Claravall as its new president and chief operating officer (COO), replacing Nonilo C. Cruz.
In a statement, the lender said its board of directors approved the appointment of Mr. Claravall as the president and COO effective Dec. 1, 2018.
According to the bank, Mr. Claravall’s career in banking and finance spans 45 years in both commercial and investment banking. He was senior vice-president and chief finance officer of Benguet Corp. from 2010 to 2015. He also served as the director of various wholly owned subsidiaries of Benguet Corp.
Mr. Claravall has been a director of PVB since 2015.
Philippine Veterans Bank is licensed as a commercial bank owned by Filipino World War II veterans and their heirs. The bank caters to both corporate and retail clients, operating 60 branches and over 130 automated teller machines nationwide.
It is the 25th biggest in the industry with P49.363 billion assets at end-June, according to the latest central bank data. — K.A.N. Vidal