After securing approval from its board of directors, Philippine National Bank (PNB) will now need the approval of the Bangko Sentral ng Pilipinas to be proceed with its plan to infuse P10 billion in fresh capital to Allied Savings Bank.
“The board of directors of the Philippine National Bank during its meeting today [Friday] approved and confirmed the investment/infusion of additional equity in Allied Savings Bank amounting to P10 billion,” PNB told the local bourse also on Friday.
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