Two of the Philippines largest banks, the Philippine National Bank and the Allied Banking Corporation have finally merged on Monday, February 11, 2013.
According to a disclosure to the Philippine Stock Exchange, PNB, the surviving entity in the merger, made an interim set of officers and board of directors installed to serve until successors would be elected and qualified.
Here’s the members of the board of the merged banks:
- Felix Enrico R. Alfiler (independent),
- Florido P. Casuela,
- Anthony Q. Chua,
- Reynaldo A. Maclang,
- Estelito P. Mendoza,
- Omar Byron T. Mier,
- Washington Z. Sycip,
- Harry C. Tan,
- Lucio C. Tan,
- Lucio K. Tan, Jr.,
- Michael G. Tan,
- Florencia G. Tarriela (independent), and
- Deogracias N. Vistan (independent)
The PNB have also announced that the authorized capital stock was increased by 500 million shares from about P50 billion, divided into P1.25 billion common shares with a per value of P40 each, to about P70 billion, divided into 1.750 billion with a par value of P40 each.
