The Philippine Postal Savings Bank (PPSB), also known as PostalBank, is the state-owned

Government-owned corporation

A government-owned corporation, state-owned company, state-owned entity, state enterprise, publicly owned corporation, government business enterprise, or parastatal is a legal entity created by a government to undertake commercial activities on behalf of an owner government...

 postal savings system

Postal savings system

Many nations' post offices operated or continue to operate postal savings systems to provide depositors who do not have access to banks a safe, convenient method to save money and to promote saving among the poor.-Great Britain:...

 in the Philippines

Philippines

The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...

. It is the smallest of the Philippines' three state-owned banks, ranking 16th among thrift banks in terms of assets. Established in 1906, the bank was closed in 1976 as a result of competition with privately-owned banks, but was reopened in 1994 pursuant to the provisions of Republic Act No. 7354, the charter of the Philippine Postal Corporation

Philippine Postal Corporation

The Philippine Postal Corporation, , abbreviated as PhilPost, is a government-owned and controlled corporation responsible for providing postal services in the Philippines. The Philippine Postal Corporation has an estimated 13,800 employees and runs more than 2,000 post offices nationwide...

. Despite the legal affiliation, the PPSB is governed separately from Philpost.