The Palawan Bank was established in the City of Puerto Princesa in 1984 and has since grown to over 10 branches in Palawan and Cebu. The bank, also known as Palawan Development Bank, Inc. is licensed as a Private Development Bank under the General Category of Thrift Banks by the Bangko Sentral ng Pilipinas. It provides a range of community banking services to both individuals and businesses in the area of its branches: from checking and savings accounts to housing loans, business loans, asset financing services, remittances, and payroll services.