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BPI, PNB readies stock rights sale

Two of the country’s biggest banks are all set to brave the capital market through stock rights offerings later this month, with Ayala-led Bank of the Philippine Islands selling P25 billion and tycoon Lucio Tan-led Philippine National Bank selling P11.6 billion in fresh equity.

Posted: January 10th, 2014 in Headlines | Read More »

BPI sets stock rights offer at P67.50 per share; PNB’s at P71

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The Bank of the Philippine Islands will consolidate with Philippine National Bank, ushering in a new wave of mergers and acquisitions among local banks.

Two of the country’s largest banks are all set to brave the capital market through stock rights offerings later this month, with Bank of the Philippine Islands selling P25 billion and Philippine National Bank selling P11.6 billion in fresh equity.

Posted: January 10th, 2014 in Latest Business Stories | Read More »

2 banks’ sub-debt ratings downgraded

Moody’s Investor Service has downgraded the subordinated debt ratings of two local banks amid the global trend of regulators providing less support to lenders at risk of going under.

Posted: September 6th, 2013 in Headlines | Read More »

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 »

PNB completes P5-B offer of long-term deposits

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Philippine National Bank completed a P5-billion offering of long-term deposits on the same day it launched the product—one of the fastest fund-raising seen in the local capital market to date.

Posted: July 26th, 2013 in Headlines | Read More »

PNB attracts P5 B in long-term deposits in record time

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Philippine National Bank completed a P5-billion offering of long-term deposits covered by negotiable certificates on the same day the product was launched on Thursday, one of the fastest fund-raising exercises seen in the local capital market to date.

Posted: July 26th, 2013 in Latest Business Stories | Read More »

PNB gets OK for negotiable time deposit certificates

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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 »

Moody’s reviews PNB, RCBC for possible downgrades

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Two local banks are facing downgrades by debt watcher Moody’s Investor Service, not because of the deterioration in their credit quality, but as a result of a recent change in the rating firm’s methodology when dealing with subordinated debt.

Posted: June 3rd, 2013 in Headlines | Read More »

New advertising tack

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Television viewers will notice that dominant carrier Smart Communications launched a new set of commercials on all major networks. Even more discerning viewers, however, will notice the absence of the “Live More” phrase that the company has been using for months to paint its rival Globe Telecom in a bad light.

Posted: May 28th, 2013 in Editor's Pick,Headlines | Read More »

PNB shelves merger talks with Ayala-led bank

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Tycoon Lucio Tan-led Philippine National Bank is shelving merger talks with Bank of the Philippine Islands until such time it has grown big enough to enter a “merger of equals” with leading banks.

Posted: May 28th, 2013 in Headlines | Read More »

PNB maps out 5-year growth plan, shelves merger talks with BPI for now

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Lucio Tan. FILE PHOTO

Tycoon Lucio Tan-led Philippine National Bank is shelving merger talks with Bank of the Philippine Islands until such time – likely in the next three to four years – that it has become a “bigger, better and stronger” bank that could enter into a merger of equals with leading banks.

Posted: May 28th, 2013 in Latest Business Stories | Read More »

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