Moody's Ratings affirms Philippine National Bank's Baa3 ratings, changes outlook to positive from stable
Moody's Ratings has today affirmed Philippine National Bank's (PNB) Baa3/P-3 long-term (LT) and short-term (ST) foreign currency (FC) and local currency (LC) deposit ratings, its Baa2/P-2 LT and ST FC and LC Counterparty Risk Ratings as well as its Baa2(cr)/P-2(cr) LT and ST Counterparty Risk Assess...Philippine National Bank provides a range of banking and other financial services to corporate, middlemarket and retail customers, the National Government, local government units and government-owned and controlled corporations and various government agencies. Co.'s principal commercial banking activities include deposit-taking, lending, bills discounting, foreign exchange dealing, investment banking, fund transfers/remittance servicing and a full range of retail banking and trust services. As of Dec 31 2010, Co. operated through 325 domestic and 34 overseas branches and offices. As of Dec 31 2010, Co. had total assets of Pp302.13 billion and total deposits of Pp226.43 billion.
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