RSS

Japanese partner increases stake in PNB leasing arm

01 Dec

Philippine National Bank (PNB) said IBJ Leasing Co Ltd (IBJL) increased its stake in Japan-PNB Leasing and Finance Corp (JPNB) to 25% from the previous 10% after acquiring more shares from the Lucio Tan-owned lender.

The share-sale reduced PNB’s ownership in JPNB to 75%.

Get FREE stock analysis, special reports and brokers’ recommendations!

Senior IBJL officials are in the Philippines to sign the terms of the expanded partnership between the two companies.

JPNB will change its commercial name to PNB-IBJL Leasing and Finance Corp by next year, subject to the approval of the regulators.

Advertisements
 
Leave a comment

Posted by on December 1, 2014 in Corporate News, PNB, Stock Market

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

 
%d bloggers like this: