...Philippine National Bank (PNB) is the fifth-largest bank in the Philippines in terms of total assets, as of 31 March 2018. The bank provides retail and corporate banking, treasury and other financial services to corporate, middle-market and retail customers, as well as to government institutions. As of 31 March 2018, it reported total consolidated assets of PHP850.7 billion ($16.3 billion). PNB operates domestically through 700 branches, as well as internationally through 72 branches, remittance centres, representative offices and subsidiaries in Europe, Asia, North America (Canada and the US) and the Middle East. Incorporated in 1916 as a government-owned banking institution, PNB served as the Philippines' de facto central bank until 1949. It was progressively privatised beginning in 1989, when its shares were listed on the Philippine Stock Exchange. As of 31 March 2018, the Lucio Tan Group Inc. indirectly owned 59.83% of PNB's share capital through various subsidiaries. Furthermore, 17.34%...