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Allied stockholders to get new PNB shares at P70 each

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Taipan Lucio Tan-led Philippine National Bank plans to offer new shares to all stockholders of Allied Bank at P70 a piece pursuant to the merger between the two banks through a share-swap arrangement.

Posted: August 16th, 2013 in Headlines | Read More »

Swapping of PNB-Allied shares to complete merger

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pnb-allied

Philippine National Bank plans to offer new shares to all stockholders of Allied Bank at P70 per share pursuant to the merger between the two banks via a share-swap.

Posted: August 16th, 2013 in Latest Business Stories | Read More »

Lucio Tan group buys 30.5% of PNB

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Lucio Tan. FILE PHOTO

Tycoon Lucio Tan has started the consolidation of his banking units into holding firm LT Group Inc. with the purchase of a 30.5-percent stake in Philippine National Bank, the surviving entity in the merger with Allied Banking Corp.

Posted: February 12th, 2013 in Latest Business Stories | Read More »

PNB, Allied complete merger via share-swap deal

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Tycoon Lucio Tan’s banking arms Philippine National Bank and Allied Banking Corp. have consummated their legal merger through a share-swap deal, with PNB as the surviving entity.

Posted: February 11th, 2013 in Editor's Pick,Headlines | Read More »

PNB, Allied Bank execute merger

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pnb-allied

Tycoon Lucio Tan’s banking arms Philippine National Bank and Allied Banking Corp. have executed a much-awaited merger via a share swap deal.

Posted: February 11th, 2013 in Latest Business Stories | Read More »

PNB eyes strategic investor after merger with Allied Bank

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pnb-allied

Philippine National Bank, the banking arm of tycoon Lucio Tan, may take in a strategic investor only after completing its merger with Allied Banking Corp. within the next 18 to 24 months.

Posted: January 21st, 2013 in Latest Business Stories | Read More »

PNB-Allied merger to push through by February

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Taipan Lucio Tan has secured the last local and foreign regulatory approvals needed to finally merge by next month his banking arms Philippine National Bank and Allied Banking Corp.

Posted: January 18th, 2013 in Headlines | Read More »

Biz Buzz: Stumbling block to banking deal of the decade

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While Bank of the Philippine Islands has entered an advanced stage of negotiations to acquire a controlling stake in Philippine National Bank, the prospective banking deal of the decade seems to have encountered a major stumbling block—getting the imprimatur of taipan Lucio Tan.

Posted: November 26th, 2012 in Editor's Pick,Headlines | Read More »

Lucio Tan group sells US banking unit, will focus on bank consolidation in PH

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Lucio Tan. FILE PHOTO

The Lucio Tan group has sold its niche US banking platform, San Francisco-based banking unit Oceanic Bank, to First National Bank of Northern California (FNB Bancorp) while working on the consolidation of local banking interests.

Posted: September 26th, 2012 in Latest Business Stories | Read More »

Allied, East West banks report growth in H1 profits

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Two commercial banks on Thursday reported growth in profits for the first semester of the year due to healthy earnings from core lending and fee-based services, and hefty trading gains.

Posted: August 16th, 2012 in Headlines | Read More »

PNB H1 income surges to P1.8B

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pnb-allied

Lucio Tan-led Philippine National Bank posted a first-semester net profit attributable to equity holders of P1.77 billion, 145 percent higher year on year as hefty trading gains complemented steady interest earnings.

Posted: August 16th, 2012 in Latest Business Stories | Read More »

PNB sees merger with Allied Bank this year

Philippine National Bank expects to secure the regulators’ approval of its planned merger with Allied Bank before the year ends after the Sandiganbayan denied the motion of the Philippine Commission on Good Government (PCGG) to stop the merger, said Estelito Mendoza, director and lawyer for PNB.

Posted: May 30th, 2012 in Editor's Pick,Headlines | Read More »

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