PCIBANKPhilippine Commercial and Industrial Bank
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* Cebu City -- A merger plan for the Philippines' Equitable Bank and PCIBank has been approved by both the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP), creating the country's second-largest bank in terms of total assets, the new company said.
The PARP's most dramatic accomplishment was its discovery that then SSS president Corazon dela Paz had signed a midnight agreement to sell to Banco de Oro the agency's 188 million shares of stock in Equitable PCIBank without public bidding at a grossly disadvantageous price of P43.50 per share when the market value was P60 and rising.
In July 1984, he transferred to the Philippine Commercial International Bank (PCIBank), where he also held various posts throughout his 14-year stay.