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Allied Banking Corporation (now Philippine National Bank) was one of the largest banks in the Philippines. On February 9, 2013, the bank was merged with Philippine National Bank, creating the fourth largest private domestic bank in the Philippines.
BancNet was founded on July 17, 1990, as the Philippines' second ATM consortium when the ATMs of eight banks, PCI Bank (later Equitable PCI Bank, now Banco de Oro), Security Bank, Chinabank, RCBC, Allied Bank (now part of PNB), Metrobank, International Exchange Bank (now part of UnionBank) and CityTrust Banking Corp. (now part of BPI) formed BancNet.
The bank became the first universal bank in the Philippines in 1980 and was acquired by tycoon Lucio Tan after it was privatized by the government in 1989. After its merger with the Tan-owned Allied Bank on February 9, 2013, PNB became the fifth largest private domestic bank in the country.
The Philippines has a comprehensive banking system encompassing various types of banks, from large universal banks to small rural banks and even non-banks.As of September 30, 2022, [1] there were 45 universal and commercial banks, [2] 44 savings banks, [3] 400 rural and cooperative banks, [4] 40 credit unions and 6,267 non-banks with quasi-banking functions, all licensed by the Bangko Sentral ...
Allied Bank may refer to: Allied Banking Corporation, a commercial bank in the Philippines; Allied Bank Limited, a commercial bank in Pakistan; Allied Bank Zimbabwe Limited, a commercial bank in Zimbabwe; Allied Bank Uganda Limited, the name of Bank of Africa (Uganda) from 1996 until 2006
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Since 2012, the company began a series of consolidation of assets belonging to Tan by acquiring interests in Asia Brewery, Inc., Fortune Tobacco Corporation, Eton Properties Philippines, Inc. (Paramount LandEquities, Inc. and Saturn Land Holdings, Inc.), Philippine National Bank, Allied Banking Corporation and Victorias Milling Company. [5] [6] [7]
Universal bank P A Bank of Commerce: Financials Banks Mandaluyong: 1963 Commercial bank, part of San Miguel Corporation: P A Bank of the Philippine Islands: Financials Banks Manila: 1851 Universal bank, part of Ayala Corporation: P A Bayan Telecommunications: Telecommunications Fixed line telecommunications Quezon City: 1986 Telecom, ISP, part ...