iBank was founded as a commercial bank on August 17, 1995, starting operations on September 25 of that year.

It grew rapidly largely due to its consumer-oriented services which proved to be popular at the time.

On September 22, 2003, iBank joined MegaLink and unveiled its iDeal ATM card.

The bank listed on the Philippine Stock Exchange on December 6, 2004, under the ticker symbol IBNK.

In a well-attended event, employees and stockholders gathered on September 25, 2010 to commemorate the bank's 15th anniversary at the Makati Sports Club.