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References in periodicals archive ?
The move follows the government's announcement on August 30 about merging 10 public sector banks into four entities, under which PNB will merge Oriental Bank of Commerce (OBC) (500315.BO) (ORIENTBANK.NS) and United Bank of India (533171.BOM) with itself.
Moody's has also affirmed the local and foreign currency deposit ratings of PNB at Ba1/NP, and affirmed the bank's BCA and adjusted BCA at b1.
The bank's representatives informed that 22,500 PNB Banka clients have already received their money.
The stock price of PNB has reversed a six-year struggling trend, even gaining over $500 million within six months from Veloso's appointment as CEO.
"This transaction comes at an opportune time when we are building up the growth momentum at PNB," Veloso said.
Kliesow has been with the Allianz Group since 2010 and served as president and CEO of Allianz PNB Life for three years.
A Small Business Administration loan of about $230,000, made through PNB, also was a financial responsibility of the Newmans.
PNB said Tan Sri Ali Hamsa, Tan Sri Wan Abdul Aziz Wan Abdullah and Tan Sri Zarinah Anwar would retire on December 31.
In a disclosure to the Philippine Stock Exchange, PNB said that "notwithstanding PNB Savings' double-digit growth in assets over the years and its significant contribution to the Parent' Bank's profitability, its business can still reach greater heights through the planned integration."
Saccoh said ACC's visit to rural area is a deliberate attempt to empower the people with PNB messages.
PNB's ability to sustain, if not improve, its buffers through sources such as retained earnings, fresh equity raising and stake sales is important for its Viability Rating.