Category: Philippine National Bank

PNB and PNB Capital Bags Four Awards from The Asset

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PNB Capital’s President & CEO Gerry B. Valenciano receives the award from The Asset’s Editor-in-Chief Daniel Yu

The Philippine National Bank (PNB) and PNB Capital and Investment Corporation (PNB Capital) recently achieved international recognition in lending and loan arrangement when the institution won four awards from the recently concluded The Asset Triple A Asia Infrastructure Awards 2015 held at the Island Shangri-la Hong Kong on October 30, 2015.

 The PNB Group was recognized by The Asset for the following deals: Best Project Finance Deal of the Year, for the Metro Manila Skyway Stage 3 PhP31 Billion project finance syndicated term loan facility; Best Transport Deal, Philippines, for the same Metro Manila Skyway Stage 3 project; Best Transport Deal – Highly Commended, Philippines, for the GMR Megawide Cebu Airport Corporation PhP23.3 Billion financing facility; and Best Power Deal, Philippines, for the Pagbilao Energy Corporation PhP33.3 Billion project financing facility.

 The awards obtained by the PNB Group is a testament to the bank’s commitment and dedication in offering competitive financing structures to clients while contributing to the development of the country.  To represent the PNB Group in the awarding ceremony, Gerry B. Valenciano, the President & CEO of PNB Capital is shown in the photo receiving the award.

 The Asset Triple A Awards are Asia’s defining recognition for excellence in the industry. This reputation has been built upon the stringent methodology, combined with the rigorous approach to the selection of the winners of the coveted Triple A. The awards are adjudicated by The Asset’s Board of Editors who collectively have several decades’ worth of evaluating industry awards in Asia.

PNB and PNB Capital Bags Four Awards from The Asset

PRNEWS Admin Leave a comment

PNB Capital’s President & CEO Gerry B. Valenciano receives the award from The Asset’s Editor-in-Chief Daniel Yu

The Philippine National Bank (PNB) and PNB Capital and Investment Corporation (PNB Capital) recently achieved international recognition in lending and loan arrangement when the institution won four awards from the recently concluded The Asset Triple A Asia Infrastructure Awards 2015 held at the Island Shangri-la Hong Kong on October 30, 2015.

 The PNB Group was recognized by The Asset for the following deals: Best Project Finance Deal of the Year, for the Metro Manila Skyway Stage 3 PhP31 Billion project finance syndicated term loan facility; Best Transport Deal, Philippines, for the same Metro Manila Skyway Stage 3 project; Best Transport Deal – Highly Commended, Philippines, for the GMR Megawide Cebu Airport Corporation PhP23.3 Billion financing facility; and Best Power Deal, Philippines, for the Pagbilao Energy Corporation PhP33.3 Billion project financing facility.

 The awards obtained by the PNB Group is a testament to the bank’s commitment and dedication in offering competitive financing structures to clients while contributing to the development of the country.  To represent the PNB Group in the awarding ceremony, Gerry B. Valenciano, the President & CEO of PNB Capital is shown in the photo receiving the award.

 The Asset Triple A Awards are Asia’s defining recognition for excellence in the industry. This reputation has been built upon the stringent methodology, combined with the rigorous approach to the selection of the winners of the coveted Triple A. The awards are adjudicated by The Asset’s Board of Editors who collectively have several decades’ worth of evaluating industry awards in Asia.

PNB Wins Best Website of the Year

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PNB Singapore General Manager Cristy Vicentina receives the award from Asian Banking & Finance Editor-in-Chief Tim Charlton.

The Asian Banking and Finance Retail Banking Awards recently awarded Philippine National Bank (PNB) with the highly-esteemed Best Website of the Year recognition. This honor validates PNB’s concerted efforts to address the ever-evolving needs of its clients.

Revamped last August 2014, the PNB website has been a fluent interpretation of the Bank’s dedication to meet the diverse digital needs of its customers. It aims to enhance online banking experience through its ability to adapt to different device displays for ease of access. Highlighting the user experience, the PNB website is also fully-responsive when viewed on desktops, laptop computers, tablets, or mobile phones. With a more dynamic look and feel that embraces PNB’s new colors, the website gives clients a hassle-free means to access PNB’s products and services. They also have ready access to PNB’s promotional materials, news, and announcements.

This prestigious award serves as an inspiration for PNB to continue producing innovative products and services, ensuring the best services available for its highly-diverse customer base worldwide.

 

PNB First Half 2015 Operating Results

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The Philippine National Bank (PNB) continued to improve its profitability in the second quarter of 2015 with a net income of Php 2.4 billion, almost twice the net income posted in the first quarter of the year. Compared to the same quarter of 2014, the Bank’s net profit registered a 26% increase. The strong performance during the quarter was driven by the sustained growth in the Bank’s core business as net interest income increased by 10% year-on-year while fee-based and other income excluding treasury-related income rose by 19%.

For the first half of 2015, PNB recorded a net income of Php3.6 billion, 12% higher than the year-ago level. Comprising 65% of total operating income, the Bank’s net interest income increased by 2.5% to Php 8.7 billion. If not for the redemption of non-performing assets in 2014, the Bank’s core net interest income actually grew by 11%. Excluding trading and foreign exchange gains, non-interest income was up by 20%. This was largely contributed by substantial increases in net insurance premiums and gains from sale of assets, which included the sale of Php 1 billion worth of Heritage Park memorial lot inventory to STI Group’s pre-need affiliate PhilPlans First Inc. The 36% improvement in the net profits of PNB’s subsidiaries also contributed to the Bank’s solid performance.

PNB ended the first half of 2015 with consolidated assets reaching Php 644.7 billion. Loan portfolio grew by 25% year-on-year to P331.9 billion, boosted by the double-digit increases in corporate and commercial/SME loans. Notwithstanding the aggressive loan expansion, asset quality continued to improve as the Bank reduced significantly its non-performing loans (NPLs) through negotiated settlements and other collection initiatives. As a consequence, NPL ratios declined further to 0.30% (net of valuation reserves) and 2.87% (at gross) from 1.16% and 4.14%, respectively, a year ago. NPL coverage is now at 119.9%.

By end-June 2015, PNB’s consolidated risk-based capital adequacy ratio (CAR) has consistently exceeded the minimum regulatory requirement of 10% with total CAR at 19.6% and Tier 1 CAR ratio 16.6%.

Last May 2015, Moody’s Investors Service upgraded the credit rating of PNB to investment grade, reflecting the consistent improvement in the Bank’s credit profile. PNB’s long-term and short-term ratings were raised two levels up from Ba2/NP to Baa3/P-3. Likewise, the ratings agency raised PNB’s baseline credit assessment (BCA) and Adjusted BCA to ba1 from ba3. The ratings upgrade serves as validation of PNB’s efforts at fortifying its business and recognizes the bank’s drive toward its long-term corporate goals of high profitability supported by a strong balance sheet.

 

PNB First Half 2015 Operating Results

PRNEWS Admin Leave a comment

The Philippine National Bank (PNB) continued to improve its profitability in the second quarter of 2015 with a net income of Php 2.4 billion, almost twice the net income posted in the first quarter of the year. Compared to the same quarter of 2014, the Bank’s net profit registered a 26% increase. The strong performance during the quarter was driven by the sustained growth in the Bank’s core business as net interest income increased by 10% year-on-year while fee-based and other income excluding treasury-related income rose by 19%.

For the first half of 2015, PNB recorded a net income of Php3.6 billion, 12% higher than the year-ago level. Comprising 65% of total operating income, the Bank’s net interest income increased by 2.5% to Php 8.7 billion. If not for the redemption of non-performing assets in 2014, the Bank’s core net interest income actually grew by 11%. Excluding trading and foreign exchange gains, non-interest income was up by 20%. This was largely contributed by substantial increases in net insurance premiums and gains from sale of assets, which included the sale of Php 1 billion worth of Heritage Park memorial lot inventory to STI Group’s pre-need affiliate PhilPlans First Inc. The 36% improvement in the net profits of PNB’s subsidiaries also contributed to the Bank’s solid performance.

PNB ended the first half of 2015 with consolidated assets reaching Php 644.7 billion. Loan portfolio grew by 25% year-on-year to P331.9 billion, boosted by the double-digit increases in corporate and commercial/SME loans. Notwithstanding the aggressive loan expansion, asset quality continued to improve as the Bank reduced significantly its non-performing loans (NPLs) through negotiated settlements and other collection initiatives. As a consequence, NPL ratios declined further to 0.30% (net of valuation reserves) and 2.87% (at gross) from 1.16% and 4.14%, respectively, a year ago. NPL coverage is now at 119.9%.

By end-June 2015, PNB’s consolidated risk-based capital adequacy ratio (CAR) has consistently exceeded the minimum regulatory requirement of 10% with total CAR at 19.6% and Tier 1 CAR ratio 16.6%.

Last May 2015, Moody’s Investors Service upgraded the credit rating of PNB to investment grade, reflecting the consistent improvement in the Bank’s credit profile. PNB’s long-term and short-term ratings were raised two levels up from Ba2/NP to Baa3/P-3. Likewise, the ratings agency raised PNB’s baseline credit assessment (BCA) and Adjusted BCA to ba1 from ba3. The ratings upgrade serves as validation of PNB’s efforts at fortifying its business and recognizes the bank’s drive toward its long-term corporate goals of high profitability supported by a strong balance sheet.