PNB still faces battle: struggles haven't ended despite board change
Article Abstract:
A number of financial analysts believe that the Philippine National Bank (PNB) is still not out of its troubles, despite the move of the bank to improve its management by overhauling its board. Benjamin Palma-Gil was elected as PNB president with Edgardo Angara voted as chairman. The change in the bank's board has improved investor confidence in the bank, with the bank's share prices increasing by 3.9% immediately after the report of the board change. PNB is facing a lot of trouble, having experienced a three year decrease in net earnings, with net profit dropping from 1.76 bil pesos (PP) in 1996 to PP 1.14 bil in 1997, and 1998 earnings expected to reach only PP 900 mil. Analyst believe that one solution might be for the Philippine government to decrease its interest in PNB, since the government holds about 45.5% of PNB shares.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Bank-merger risks remain
Article Abstract:
Most investors are opting to remain in the sidelines as Citybank of the US moves to take control of the First Bangkok City Bank of Thailand (FBCB). Most analysts feel that entering the market as a minority investor is too risky due to uncertainties involved in the said deal. Little is known of the actual financial standing of FCBC, whose shareprices are worth some 28 baht on the market. Analysts are cautious not to invest due to the possibility that Citibank may pay much lower than the market price, making minority shareholders lose more in the short-term.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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Manila's PDCP gains fans: merger plans with AsianBank spark 'buy' calls
Article Abstract:
Some securities analysts are advising their clients to buy PDCP Development Bank shares in view of the bank's planned merger with the unlisted AsianBank. The deal would benefit both parties, with PDCP gaining AsianBank's much-coveted 'universal banking' status and the latter being able to list its shares without the hassles of an initial public offering. The merger would also create a larger bank with a capital base of approximately 6.6 billion pesos.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1996
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