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Company Background

Philippine National Bank (PNB) is one of the country`s largest private local
commercial banks in terms of assets and deposits. It was established as a
government-owned banking institution on July 22, 1916 with headquarters in the old
Masonic Temple along Escolta, Manila. Its primary mandate was to provide financial
services to Philippine industry and agriculture and support the government`s
development effort.
PNB is a universal bank providing a full range of banking and other financial
services to large corporate, middle market, small and medium enterprises (SMEs)
and retail customer. It maintains significant account relationship as well with the
Philippine Government, national government agencies, local government units, and
government owned and controlled corporation (GOCCs). PNB was originally
established as government bank in 1916 but has been 100% privatized since 2007.
PNB is a publicly listed company with broad shareholder base. Its major stockholder
is the Lucio Tan Group, one of the Philippines` leading business conglomerates.
With PNB`s establishment, Filipinos found a bank of their own. PNB was the
First Universal Bank in the country and was authorized to grant short and long-term
loans to agriculture and industry. The Filipino farmers then could avail of loans with
interest between 8% to 10% per annum. PNB was also authorized to receive
deposits, open foreign credits and rediscount bills. It was also given the special
power to issue circulating notes. As such, PNB functioned as the defacto Central
bank of the country until 1949.
PNB`s principal commercial banking activities include deposits-taking,
lending, bills discounting, trade finance, foreign exchange dealings, fund
transfer/remittance servicing, a full range retail banking and trust services and
treasury operations. Through its subsidiaries, the Bank engages in a number of
diversified financial and related businesses such as remittance servicing in the
Unites States, Hong Kong, Guam, Italy, Canada and France; full service banking in
the United Kingdom; investment banking, non- life insurance, stock brokerage,
leasing and financing; and freight forwarding services among others.
Last February 2013, PNB merged with Allied Banking Corporation and
became the fourth largest private domestic bank in terms of combined total
resources. As of June 30, 2015, PNBs consolidated assets reached Php644.7 billion.
PNBs n e income for the nine- month period registered at Php 3.6 billion, 12%
higher than the year ago level.

As of June 2015, the Bank has 662 branches and 900 ATMs strategically
located nationwide. It has the most extensive international presence among
Philippine banks with 76 overseas branches and offices. The Bank also maintains
correspondent banking relationship with more than 900 banks and financial
institutions worldwide. As a result of his large geographic coverage, the Bank is a
lending provider of remittance and other banking services to Overseas Filipino