Philippine Business Bank started operations on February 12, 1997 as Total Savings Bank.[1] Before the year ended, it obtained approval from the Philippines Securities and Exchange Commission (SEC) to change its corporate name to the current one. To keep itself close to the small and medium scale businesses which includes both small and medium enterprises (SMEs) and large companies which it seeks to serve, PBB operates from its head office in Caloocan City unlike other banking institutions in the Philippines which hold office in the plush Makati or Ortigas business centers as favored by other banks.