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Biz Buzz: Winning streak


They say good things come in pairs or threes but the transportation department—which is the one agency now that needs a positive lift as Metro Manila commuters simmer on MRT’s woes—has been defying those averages.

Posted: April 14th, 2014 in Headlines | Read More »

PNB president retiring


Philippine National Bank announced Friday the retirement of its president Omar Byron Mier after 12 years of service to the bank.

Posted: April 11th, 2014 in Latest Business Stories | Read More »

PNB insurance unit sees P700M to P800M in losses


The nonlife insurance unit of Philippine National Bank expects to post P700 million to P800 million in losses arising from property damage claims following the string of natural disasters that hit the country last year.   PNB General Insurers Inc., a wholly owned unit of PNB, said the losses would stem from claims for property [...]

Posted: January 12th, 2014 in Headlines | Read More »

Weak trading seen

Sluggish trading is seen at the local stock market this week in the absence of fresh catalysts to load up on equities.   Last week, the main-share Philippine Stock Exchange index (PSEi) gave up 105.05 points or 1.77 percent to end at 5,842.88 on Friday.   “We’ve found a strong support at current levels. We’ll [...]

Posted: January 12th, 2014 in Headlines | Read More »

P10-B infusion into Allied thrift bank unit OKd

Tycoon Lucio Tan-led Philippine National Bank has approved a P10-billion fresh equity infusion into Allied Savings Bank, a thrift bank that became its wholly owned subsidiary following its merger with Allied Banking Corp.

Posted: December 22nd, 2013 in Headlines | Read More »

PSE okays large rights offering of BPI, PNB


The Philippine Stock Exchange has approved capital-raising activities of two big banks through stock rights offering early next year: P25 billion for Bank of the Philippine Islands and P15 billion for Philippine National Bank.

Posted: December 18th, 2013 in Latest Business Stories | Read More »

LT group to buy 60% of PNB rights offer


The Lucio Tan group has committed to take up 60 percent of Philippine National Bank’s stock rights offering, supporting its recapitalization and keeping its controlling interest in the banking unit.

Posted: December 15th, 2013 in Headlines | Read More »

Big banks on fundraising mode to push expansion


A number of big Philippine banks are raising fresh funds from the rollout of long-term negotiable certificates of deposits (LNTCDs), tapping the cash-rich domestic market to boost funds for lending and expansion.

Posted: October 20th, 2013 in Headlines | Read More »

PNB gets nod to issue P5 B in new negotiable certificates of long-term deposit


Philippine National Bank launched on Wednesday a new offering of negotiable certificates of long-term deposit after receiving regulatory authority to raise as much as P5 billion from these instruments.

Posted: October 9th, 2013 in Latest Business Stories | Read More »

Swapping of PNB-Allied shares to complete merger


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 »

PNB launches high-yield long term deposits


Tycoon Lucio Tan’s banking arm Philippine National Bank started on Thursday the offering of high-yielding long-term deposits worth as much as P5 billion.

Posted: July 25th, 2013 in Latest Business Stories | Read More »

PNB gets OK for negotiable time deposit certificates


Tycoon Lucio Tan’s banking arm Philippine National Bank has obtained approval from the Bangko Sentral ng Pilipinas to offer as much as P5 billion worth of high-yielding time deposits.

Posted: July 17th, 2013 in Latest Business Stories | Read More »



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