Philippine National Bank (PNB)

[Mr. Banker]

WHICH AMONG MY FAVORITE BANKS HAS THE BEST UPSIDE?? (Clue #2)

Here are COL’s TP figures as published in their April 20, 2012 “Investment Guide” and their March 27, 2012 review of PNB.

Bank………Latest Price……COL’s TP
BPI………….75.50…………..80.00
BDO………..68.70…………..79.00
MBT………..90.50…………108.00
UBP……….103.60…………130.70
PNB…………74.70………….104.57
SECB………146.10…………129.00

Having difficulty choosing which one has the best upside????

[redwarrior]

El Kapitan has proxies/SPAs of 67.1979% for the May 29 stockholders' meeting (see Prelim Info Statement at Pse)

There is foreign ownership restriction of 40%.

Goldman further reduced its stake in ICBC to Temasek last week. (http://online.wsj.com/article/SB10001424052702304299304577346590254308920.html)

[miner]

The solution to a growing family para everybody happy

Fortune Tobacco JV with Philip Morris= check, done

Pal sold 49% to SMC= check, done

Asia Brewery JV or sold to SMC? Question mark

PNB Allied sold 40% to ICBC or other China based bank? Question mark

Eton JV or merge with Ali? Question mark

[surfer]

Friend banker, Hindi mo fav yung bank c and bank r?

How about my ipit, the other bank p? May pagasa pa ba?

[Mr. Banker]

Friend banker, Hindi mo fav yung bank c and bank r?

How about my ipit, the other bank p? May pagasa pa ba?

Friend surfer, mahusay at mabait magbigay ng dividendo si bank c. Siguradong nasa listahan ko sya ng paborito pagka natapos na yung stock split nya.

Ayaw ko sa bangko na yung may ari nagpaiyak ng mga magulang ng marami kong inaanak...dahil naghirap sila magpaaral ng kanilang mga anak. Nagagalit mga kaibigan ko pag binabanggit ko pangalan ng bangkong yon. Mawawalan ako ng ka majjong o poker.

Hintay ka lang kay bank p. Tingin ko, binili yon para ipagbili din.Malay mo baka another amc.

[surfer]

^friend banker,my response is: thanks, got it and wow sana nga
oks, hindi na kita kukulitin dun sa bangkong nagpapaiyak. mas importante poker at majjong.

[redwarrior]

It is nice to see you in this thread miner. I like your line of thought.

It might be difficult for ICBC to invest in Philippine banks when it is making much more money in China. Its ROE in 2010 and 2011 are 20% and 21% respectively. CCB also with ROE of 19% and 20% in 2010 and 2011 respectively. Philippine banks are only returning 7%-16% to equity. Further, corporate tax rate in the Philippines is 32% while China has standard corporate tax rate of 25%.

Maybe there are others out there willing... but it would be a tough decision to make unless it is a strategic move. It would be easier for a local bank given no ownership restriction and an immediate capture of a big chunk of market share, but then again, they may not have the funds and it may take time to raise it. Price is always king.

[jong]

out of trendline na ang PNB ah.. matutuloyan na ba ito?

[money_mind8]

slowly but surely to 3 digits

[Luckypick]

CLSA has been heavily selling PNB for the last two days. Something might be up. Possibly have to do with PCGG request to stop the merger

[Davinci]

PNB is now trading more erratically. Still holding my position but more cautious.

D

[Luckypick]

COL is the only large buyer for the past few days. COL buying vs CLSA selling. Before the PCGG issue cropped up, CLSA was a big buyer and was responsible for pushing this up past 75. Now CLSA reversed course and trimmed his holdings in the last few days

[Mr. Banker]

Touchdown 76!!!