Philippine National Bank
The Philippine National Bank ( PNB , Filipino : Bangko Nasyonal ng Pilipinas ) is one of the largest banks in the Philippines . It was founded on July 22, 1916 as a state institution whose main task was to provide financial services to the Filipino industry and agriculture and to support the country's economic development.
The Philippine National Bank is not the country's central bank. This is the Bangko Sentral ng Pilipinas .
In 1989 the Philippine government brought the bank to the stock exchange as part of a partial privatization with a 30% share. The PNP has since been listed on the Philippine Stock Exchange . A secondary placement followed in 1992 and finally in 1996 the bank was converted from a state-owned company into a private corporation and the government reduced its stake to 46%.
Then in 1999 a private investor group led by Lucio Tan acquired 35% of the Philippine National Bank. In the following year, this stake was increased to over 69%, with the Lucio-Tan group taking control of the bank. In 2013, PNP finally merged with Allied Bank, which was also part of the Tan empire, making it the fourth largest private bank in the Philippines in terms of fixed assets.
In mid-2016, the bank had 670 branches in the Philippines and 960 ATMs across the country. There are also 72 foreign locations in Europe, North America, the Middle East and Asia - according to PNP, more foreign branches than any other Philippine bank. In Europe, PNP is currently represented with branches in France , Italy and Great Britain . A previous location of the PNP in Hamburg, however, no longer exists today.
Individual evidence
- ↑ History ( Memento from August 14, 2016 in the Internet Archive )
- ↑ Company profile ( Memento from August 12, 2017 in the Internet Archive )