PNB still faces battle

Article Abstract:

Philippine National Bank (PNB) has recently replaced all members of its board, causing a 3.9% rise in the company's shares. PNB shareholders elected Benjamin Palma-Gil as the bank's new president, replacing Peter Favila; and Edgardo Angara as chairman, succeeding Daniel Lacson. Some traders look at the new board changes as a move by the new Philippine administration to boost the bank's finances. The government owns 45.5% of PNB's shares, controls nine of the 11 board seats, and many of the government appointees in the new board were selected by the Philippines' new finance chief. PNB's net profit fell to 1.14 billion pesos, or $27.2 million, in 1997 from 1.76 billion pesos in 1996. Bad loans stood at 8.1% of PNB's total loan portfolio at the end of March 1998.

Comment:

Recently replaces all members of its board, causing a 3.9% rise in the company's shares

Executive changes & profiles, Philippines, Philippine National Bank, Article

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Retail bank competition is heating up in Manila

Article Abstract:

Competition among large commercial banks, thrift banks as well as savings and loan associations in the Philippines in the field of consumer banking has been burgeoning since the deregulation of the banking industry in 1994. Some of the country's top commercial banks which have ventured into retail banking have been very successful. Bank of the Philippine Islands has been a leading force in consumer banking since the 1980s through its thrift-bank subsidiary BPI Family Bank, while Metropolitan Bank and Trust Co. owes much of its growth to its thrift-bank subsidiary Philippine Savings Bank.

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Banking sector likely to emerge intact from turmoil

Article Abstract:

Hong Kong's banking industry is likely not to follow the consolidation trend in the financial services industry in Asia even as Hong Kong is widely regarded as among the overbanked cities worldwide. Analysts claim Hong Kong's banking industry can afford not to consolidate since it is well-capitalized. Moreover, majority of the smaller banks are closely regulated by local families who are unlikely to relinquish control unless compelled to do so.

Administration of General Economic Programs, Economic Planning & Research, Economic conditions, Asia, Hong Kong

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