Philippine National Bank (PNB)

[butterfinger]

PNB charts here:

hihihi. it's been a while since i last posted sa big caps forum.
ngayon lang uli nakakita ng pwede pang long term.

just had an OH of 75, just incase it opens higher, based on yesterday's trade. but DJIA went down today, so i hope it doesn't have an impact on the PSE.

[Mr. Banker]

Nice timing, friend derridamd

Mr. Banker, methinks PNB will relieve me of my ennui in Union Bank.

Friend derridamd, after today's run I hope your feeling of lassitude is now over...UBP now on the way up as well....

[hec]

nangangamoy merger na ba?

[Out of Stock]

PNB charts here: (pakipindot)

hihihi. it's been a while since i last posted sa big caps forum.
ngayon lang uli nakakita ng pwede pang long term.

hehehe. bro SB naglalaro ka din pala ng big caps paminsan minsan.

[korrection]

Surfer: hopefully it does... dip time na. time to add.
OOS: yes esp. when it's worth the waiting time for a trader like me. hihihi.

[Luckypick]

Posted on July 04, 2012 09:08:27 PM

PNB sees flat Q2 earnings

http://www.bworldonline.com/content.php ... s&id=54596

[derridamd]

Lucio Tan Can Merge PNB and Allied Bank
Sunday, 08 July 2012 21:33 / Joel R. San Juan/Reporter

THE Presidential Commission on Good Government (PCGG) has no authority to stop a planned merger between the Philippine National Bank (PNB) and Allied Banking Corp. (Allied Bank).
This was declared by the Department of Justice (DOJ) in a four-page legal opinion it recently issued upon request of Finance Undersecretary John Phillip Sevilla.

Sevilla sought the legal opinion after the PCGG sent letters to the Securities and Exchange Commission (SEC), Bangko Sentral ng Pilipinas (BSP) and the Philippine Deposit Insurance Corp. (PDIC) urging that they deny any merger application by PNB and Allied Banking Corp., which are both owned by business tycoon Lucio Tan.

The PCGG has been opposing the union of the two commercial banks, saying the merger would render government efforts to recover a portion of Tan’s allegedly ill-gotten wealth moot and academic.

It earlier filed a temporary restraining order (TRO) before the anti-graft court Sandiganbayan to stop the merger on the basis of Executive Order (EO) 2, which gives the PCGG the authority to prohibit any person from transferring, conveying, encumbering or otherwise depleting or concealing assets and pieces of property in which the family of late former President Ferdinand Marcos and its allies have interest or participation.

But Justice Secretary Leila de Lima said the provision should not be construed “as delimiting the mandates” of SEC, BSP and PDIC where approving or disapproving application for merger by PNB and Allied Banking Corp. is concerned.

According to de Lima, the PCGG has lost legal basis to assume control over shares of stock of Tan at Allied Banking Corp. considering that its writ-sequestration orders over the shares were already declared void by the Sandiganbayan. The declaration was later upheld by the Supreme Court.

The DOJ chief said the Sandiganbayan has ruled that under Section 80 of the Corporation Code, the liabilities, obligations and actions against the merged corporations are not erased.

De Lima added that the anti-graft court issued a ruling on June 11, 2012 stating that Tan’s assets are not part of the ill-gotten wealth of the Marcos family.

“Thus, paragraph 2 of EO 2 should not be construed as precluding the concerned agencies in pursuing their mandates under their respective charters. To do otherwise and not act on the same may even result in suits against them by involved parties,” she said.

http://businessmirror.com.ph/home/top-n ... llied-bank

[Luckypick]

Malapit na! all signs point to the merger

[wolfwood]

To whom it may concern,

Any idea on the delay of the official merger? I thought it should be done before the 2nd half of the year?

Oh PNB san kba talga tutungo?

[Mr. Banker]

To whom it may concern,

Any idea on the delay of the official merger? I thought it should be done before the 2nd half of the year?

Oh PNB san kba talga tutungo?

Inip na inip rin ako, friend wolfwood. My friends in both banks could only tell me that they are waiting for approvals though they are carrying about their tasks with a lot of directions that the merger will soon be there.

Reviewing dates of application, my notes show the following:

March 27, 2012: The application for the approval of the merger was filed with the BSP and PDIC;
April 13, 2012: The application for approval of the merger was filed with the SEC

The BSP and SEC are the ones that are important. In the local environment that we have, almost always some people would have an earlier knowledge when a favorable or an unfavorable decision will be coming out. When such event happens, it usually translates to a sudden movement in the price of the stock. My gut feel is that it will be favorable. Like you, I do hope it comes soon.

[wolfwood]

Thanks Mr Banker for the notes. And congrats on your new page. very deserving indeed.

Two wishes for PNB:

1. Hoping merger be official SOON.
2. No sell on news here, e.g., BEL, Mining, etc

[hec]

Thanks Mr Banker.

Question lang po, if in case na matuloy ang merger, ano ang TP mo or reasonable na FV?

I have some of the PNB stock but most of my portfolio is with ELI.. once matuloy ang SRO ng ELI I plan na lumipat sa PNB..

[Mr. Banker]

Thanks Mr Banker.

Question lang po, if in case na matuloy ang merger, ano ang TP mo or reasonable na FV?

I have some of the PNB stock but most of my portfolio is with ELI.. once matuloy ang SRO ng ELI I plan na lumipat sa PNB..

My notes disclose that FV consensus if merger is done averaged at 85 about a year ago....with one research note showing an out of line number of 104.57.

I have to look for updated ones as PNB's 1st qtr performance was a lot higher than projections.