Through the stirring words of Senator Camilo Osías, as shown in the excerpt below, the Philippine Veterans Bank was born on June 18, 1963, through Republic Act No.

True patriotism seeks no reward for services rendered to the State at great sacrifice even at the cost of life itself; but it is also the duty of the State to create the necessary atmosphere and incentives for her citizens.Under the PVB charter, the bank's subscribed capital of ₱100 million would be divided into 510,000 common shares and 490,000 preferred shares, all with a par value of one hundred pesos.

That effectively curtailed the right of the veterans to choose their own board of directors even after all common shares were transferred to them.

Due to capital deficiencies (and political excesses during the Marcos era), PVB was ordered closed by the Bangko Sentral ng Pilipinas on April 10, 1983, placed under receivership, and subsequently liquidated on June 17, 1985.

Since the law also understood that the veterans took no role in the failure of PVB, it allowed the restructuring of its locked government deposits, totaling ₱1.48 billion at the time, into a seven-year loan.

The bank aims to open several more branches in other key locations across the country to give World War II veterans and their families, as well as its other clients easier access and convenience to its products and services.

PVB named former Finance Secretary Roberto De Ocampo, a son of a World War II veteran, as its new Chairman in July 2013.

[7] In December 2018, Renato A. Claravall, who has been on the PVB's Board of Directors since 2015, was appointed the bank's new President and Chief Operating Officer.

[8] PVB's corporate social responsibility and commitment of service to the Filipino World War II veteran community have received recognition from various award-giving bodies throughout the years.

7169 Section 6,[15] as a grateful gesture of the nation’s appreciation for the service of the World War II veterans of the Armed Forces and guerilla organizations.