PETNET is the country’s foremost urgent transaction center with over 3,300 locations nationwide which provides its customers with a comprehensive scope of reliable financial services in one location.
In mid-2015, Aboitiz Equity Ventures, Inc. (AEV) acquired a 51% stake in PETNET and with this entry, PETNET has embarked on a rapid and massive branch and service offering expansion program.
To better describe its portfolio of services and continuously be relevant to its target market and industry, the company rebranded its retail network to PERA HUB in April 2016 to own and define the company’s value in the urgent transaction center services category.
PETNET’s new retail brand, PERA HUB is geared towards providing complementary products, cash, and payment-related solutions to its growing market, such as foreign exchange, bills payment, airline ticketing, cellphone loads, ATM withdrawals, micro-loans, and micro-insurance.
PERA HUB signifies the brand’s competitive selling proposition of being a cash and payment-related transaction center.
In December of 2017, PETNET received its ISO 9001:2015 Quality Management System (QMS) certification from the Certification International Philippines, Inc. (CIP).
In 2018, Aboitiz Equity Ventures (AEV) has sold its 51% stake in PETNET, Inc. (PETNET) to City Savings Bank (CSB) and Union Properties, Inc. (UPI), in line with the direction of the Aboitiz Group to consolidate all its financial services under one entity, Union Bank. CSB and UPI are subsidiaries of Union Bank.
This strategy facilitates closer collaboration among the Group’s banking and financial service units and leverages synergies towards business optimization.
Even with the sale of AEV’s 51% stake, PETNET remains a part of the Aboitiz Group and its Management has not changed. Today the company continues to commit itself to scale up the business to further provide relevant services to its customers.