The Philippine National Bank (PNB, Filipino: Bangko Nasyonal ng Pilipinas or Pambansang Bangko ng Pilipinas, Castillian Spanish: Banco Nacional de Agricola de Filipinas) (PSE: PNB) is one of the largest banks in the Philippines. The bank was acquired by tycoon Lucio Tan after it was privatized by the government. It rose to become the fifth largest bank in the Philippines after its merger with the Tan-owned Allied Bank. It was established by the Philippine government on July 22, 1916, during the American colonial period, and became the first universal bank in the Philippines in 1980. PNB had 331 branches in the Philippines and 13 branches in the overseas as of end 2011.
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Famous quotes containing the words national bank, national and/or bank:
“The progress
Is permanent like the preordained bulk
Of the First National Bank
Like fish sauce, but agreeable.”
—John Ashbery (b. 1927)
“This is the first national administration we’ve ever seen where the housewife couldn’t afford to buy groceries and the farmer couldn’t afford to grow them.”
—Jimmy Carter (James Earl Carter, Jr.)
“A bank is a confidence trick. If you put up the right signs, the wizards of finance themselves will come in and ask you to take their money.”
—Christina Stead (1902–1983)