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.
Read more about Philippine National Bank: History, Employee Unions
Famous quotes containing the words national and/or bank:
“Perhaps our national ambition to standardize ourselves has behind it the notion that democracy means standardization. But standardization is the surest way to destroy the initiative, to benumb the creative impulse above all else essential to the vitality and growth of democratic ideals.”
—Ida M. Tarbell (1857–1944)
“O Gold! I still prefer thee unto paper,
Which makes bank credit like a bark of vapour.”
—George Gordon Noel Byron (1788–1824)