RETAIL BANKING | Cesar Tordesillas, Philippines

PNB merger with Allied Bank approved by 2 bodies

Philippine National Bank's merger with Allied Banking Corporation has been approved by the Philippine Deposit Insurance Corp. and Bangko Sentral ng Pilipinas.

The bank is still expecting final approval from Securities and Exchange Commission and overseas regulatory agencies after which the merger can finally happen.

As the expected date of merger draws near, both banks have further stepped-up all merger related activities focused on managing communications and operational concerns affecting customers and various publics come day one of the merger.

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