Moody's Ratings affirms Philippine National Bank's Baa3 ratings, changes outlook to positive from stable

Philippine National Bank: Update following rating affirmation, outlook changed to positive - Credit Opinion – 2024/04/22 – US$ 250.00 – ...Philippine National Bank's (PNB) Baa3 long-term foreign-currency deposit rating and senior unsecured bank debt rating reflect its weak, but improving, asset quality, mitigated by improved profitability, adequate capital, as well as its strong liquidity and funding. Its ratings are one notch above its ba1 Baseline Credit Assessment (BCA), reflecting our assumption of a high likelihood of support from the Government of the Philippines (Baa2 stable). The outlook on the bank's ratings is positive. The bank's ratings also take into consideration the strengthening in its core profitability, as well as the post-pandemic improvement in its asset quality, which in turn has reduced risks to capital. However, risks to asset quality still resides in a few large pandemic-related exposures as well as unseasoned loans arising from its accelerated growth in the small and medium-sized (SME) and retail segments....

Philippine National Bank: Key facts and statistics - H1 June 2023 - Issuer Profile – 2023/10/18 – US$ 200.00 – ...Philippine National Bank (PNB) is a Manila-based bank that provides retail and corporate banking, treasury and other financial services to corporate, small and medium-sized enterprise and retail customers, and to government institutions. As of 30 June 2023, PNB reported total consolidated assets of PHP1.2 trillion ($21.0 billion), which accounted for a 5.0% market share among banks in the Philippines. As of 30 June 2023, PNB operated domestically through 651 branches, and internationally through 72 branches, remittance centers, representative offices and subsidiaries in Europe, Asia, the Middle East and North America. Incorporated in 1916 as a government-owned banking institution, PNB served as the Philippines' de facto central bank until 1949. It was privatized beginning in 1989, when its shares were listed on the Philippine Stock Exchange (ticker: PNB). As of 30 June 2023, the Lucio Tan Group (LT Group), Inc. indirectly owned 59.88% of PNB's share capital through various holding companies....

Philippine National Bank: Update to credit analysis - Credit Opinion – 2023/07/24 – US$ 250.00 – ...Philippine National Bank's (PNB) Baa3 long-term foreign-currency deposit rating and senior unsecured bank debt rating reflect its weak asset quality and profitability that are mitigated by strong liquidity and funding, and adequate capital. Its ratings are one notch above its ba1 Baseline Credit Assessment (BCA) reflecting our assumption of a high likelihood of support from the Government of the Philippines (Baa2 stable). The outlook on the bank's ratings is stable. The bank's ratings take into consideration the improvement in asset quality over the past 12 months, which in turn has reduced risks to capital. Problem loans have declined, driven by an upgrade of a few large exposures in sectors affected by the recent coronavirus pandemic....

Philippine National Bank: Update following rating affirmation - Credit Opinion – 2022/11/28 – US$ 250.00 – ...On 8 November 2022, we affirmed Philippine National Bank's (PNB) Baa3 long-term local- and foreign-currency bank deposit ratings. We also changed the outlook on the bank's ratings, where applicable, to stable from negative. PNB's Baa3 long-term foreign-currency deposit rating and senior unsecured bank debt rating reflect its weak asset quality and profitability, as well as adequate capital, strong liquidity and funding. The ratings is one-notch above its ba1 Baseline Credit Assessment (BCA) reflecting our assumption of a high likelihood of support from the Government of the Philippines (Baa2 stable). The bank's ratings considers the improvement in asset quality over the past 12 months, which in turn has reduced risks to capital.. Problem loans have declined, driven by an upgrade of a few large exposures in sectors affected by the coronavirus pandemic....

Philippine National Bank: Key facts and statistics - H1 June 2022 - Issuer Profile – 2022/11/16 – US$ 200.00 – ...Philippine National Bank (PNB) is a Manila-based bank that provides retail and corporate banking, treasury and other financial services to corporate, small and medium-sized enterprise and retail customers, and to government institutions. As of 30 June 2022, PNB reported total consolidated assets of PHP1.2 trillion ($21.2 billion), which accounted for a 5.5% market share among banks in the Philippines. As of 30 June 2022, PNB operated domestically through 651 branches, and internationally through 71 branches, remittance centers, representative offices and subsidiaries in Europe, Asia, the Middle East and North America. Incorporated in 1916 as a government-owned banking institution, PNB served as the Philippines' de facto central bank until 1949. It was privatized beginning in 1989, when its shares were listed on the Philippine Stock Exchange (Ticker: PNB). As of 30 June 2022, the LT Group, Inc. indirectly owned 59.83% of PNB's share capital through various holding companies....

Moody's affirms Philippine National Bank's Baa3 deposit ratings; changes outlook to stable from negative - Rating Action – 2022/11/09 – US$ 180.00 – ...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT...