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                    [ArticleID] => 259613
                    [Title] => PNB profit down to P40M in H1
                    [Summary] => The Philippine National Bank (PNB) posted a 56-percent drop in net income from P91 million to P40 million in the first six months of the year, the bank said in a statement yesterday.


"The change in the taxation system, which saw a return from the value added tax system to the gross receipts system, was the biggest non-recurring item that affected the bank’s net income performance in the first half of 2004," PNB said.


                    [DatePublished] => 2004-08-01 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
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            [1] => Array
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                    [ArticleID] => 259273
                    [Title] => PNB posts 8% hike in assets
                    [Summary] => The Philippine National Bank (PNB) reported total resources of P216 billion as of June 30, up eight percent from the end-2003 level of P199 billion.


The increase in assets was pushed by the expansion in customer deposits and proceeds from the issuance of Tier 2 capital, which were deployed in trading and investment securities and interbank loans.


The first semester performance proves the continued effectiveness of the rehabilitation initiatives started in mid-2002, anchored on the "Good Bank – Bad Bank" strategy, the PNB said in a statement.


                    [DatePublished] => 2004-07-29 00:00:00
                    [ColumnID] => 133272
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                    [AuthorName] => 
                    [SectionName] => Business
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                (
                    [ArticleID] => 236717
                    [Title] => PNB ends losing streak, posts P168-M net income in 2003
                    [Summary] => After five years of successive losses, the Philippine National Bank consistently turned in each of the 12 months last year, and ended 2003 with a preliminary and unaudited net income of P168 million, a reversal of its P1.948-billion loss in 2002.


The bank attributed last year’s performance to improved net interest margin, fee-based income and operating expense management. The gains were realized after PNB pursued the "Good Bank – Bad Bank strategy" that gave it more focus.


                    [DatePublished] => 2004-01-28 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
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            [3] => Array
                (
                    [ArticleID] => 217506
                    [Title] => PNB names Ernst & Young as financial advisor
                    [Summary] => The asset management group of the Philippine National Bank announced the recent appointment for Ernst & Young Asia Pacific Financial Solutions LLC as its financial advisor in the development and implementation of a comprehensive strategy for its non-performing assets (NPAs) consisting of non-performing loans and acquired assets.


Under the engagement, Ernst & Young will assist the bank in the segmentation of its NPA portfolio into asset pools so that appropriate disposition strategies may be adopted for each asset category.


                    [DatePublished] => 2003-08-17 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
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BAD BANK

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                    [ArticleID] => 259613
                    [Title] => PNB profit down to P40M in H1
                    [Summary] => The Philippine National Bank (PNB) posted a 56-percent drop in net income from P91 million to P40 million in the first six months of the year, the bank said in a statement yesterday.


"The change in the taxation system, which saw a return from the value added tax system to the gross receipts system, was the biggest non-recurring item that affected the bank’s net income performance in the first half of 2004," PNB said.


                    [DatePublished] => 2004-08-01 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [1] => Array
                (
                    [ArticleID] => 259273
                    [Title] => PNB posts 8% hike in assets
                    [Summary] => The Philippine National Bank (PNB) reported total resources of P216 billion as of June 30, up eight percent from the end-2003 level of P199 billion.


The increase in assets was pushed by the expansion in customer deposits and proceeds from the issuance of Tier 2 capital, which were deployed in trading and investment securities and interbank loans.


The first semester performance proves the continued effectiveness of the rehabilitation initiatives started in mid-2002, anchored on the "Good Bank – Bad Bank" strategy, the PNB said in a statement.


                    [DatePublished] => 2004-07-29 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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                (
                    [ArticleID] => 236717
                    [Title] => PNB ends losing streak, posts P168-M net income in 2003
                    [Summary] => After five years of successive losses, the Philippine National Bank consistently turned in each of the 12 months last year, and ended 2003 with a preliminary and unaudited net income of P168 million, a reversal of its P1.948-billion loss in 2002.


The bank attributed last year’s performance to improved net interest margin, fee-based income and operating expense management. The gains were realized after PNB pursued the "Good Bank – Bad Bank strategy" that gave it more focus.


                    [DatePublished] => 2004-01-28 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 217506
                    [Title] => PNB names Ernst & Young as financial advisor
                    [Summary] => The asset management group of the Philippine National Bank announced the recent appointment for Ernst & Young Asia Pacific Financial Solutions LLC as its financial advisor in the development and implementation of a comprehensive strategy for its non-performing assets (NPAs) consisting of non-performing loans and acquired assets.


Under the engagement, Ernst & Young will assist the bank in the segmentation of its NPA portfolio into asset pools so that appropriate disposition strategies may be adopted for each asset category.


                    [DatePublished] => 2003-08-17 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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)

abtest

PNB profit down to P40M in H1

August 1, 2004 - 12:00am

The Philippine National Bank (PNB) posted a 56-percent drop in net income from P91 million to P40 million in the first six months of the year, the bank said in a statement yesterday. "The change in the taxation...

Business

PNB posts 8% hike in assets

July 29, 2004 - 12:00am

The Philippine National Bank (PNB) reported total resources of P216 billion as of June 30, up eight percent from the end-2003 level of P199 billion. The increase in assets was pushed by the expansion in customer...

Business

PNB ends losing streak, posts P168-M net income in 2003

January 28, 2004 - 12:00am

After five years of successive losses, the Philippine National Bank consistently turned in each of the 12 months last year, and ended 2003 with a preliminary and unaudited net income of P168 million, a reversal of...

Business

PNB names Ernst & Young as financial advisor

August 17, 2003 - 12:00am

The asset management group of the Philippine National Bank announced the recent appointment for Ernst & Young Asia Pacific Financial Solutions LLC as its financial advisor in the development and implementation...

Business