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                    [ArticleID] => 96990
                    [Title] => PDIC nixes PNB bid to convert loan to equity
                    [Summary] => The Philippine Deposit Insurance Corp. (PDIC) has rejected the proposal of the Philippine National Bank (PNB) to convert into equity its P10-billion loan from the state-owned insurance firm.


PDIC president Norberto Nazareno said the state-owned insurance firm cannot accept the proposal since its charter does not allow it to directly have stakes in banks and it still has to consult with the Department of Budget and Management on whether government can absorb the loan.


                    [DatePublished] => 2001-02-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [1] => Array
                (
                    [ArticleID] => 96687
                    [Title] => PNB proposes scheme to settle part of P10-B emergency loan from PDIC
                    [Summary] => The Philippine National Bank (PNB) wants to settle a portion of its P10-billion emergency loan from the Philippine Deposit Insurance Corp. (PDIC) through an off-selling scheme.


The scheme being proposed calls for the bank to merely transfer to the PDIC an estimated P9 billion in so-called sub-performing loans or bad accounts it had incurred by lending to the national government when the state still owned the bank.


                    [DatePublished] => 2001-01-08 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
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NATIONAL SUGAR TRADING CORP

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                    [ArticleID] => 96990
                    [Title] => PDIC nixes PNB bid to convert loan to equity
                    [Summary] => The Philippine Deposit Insurance Corp. (PDIC) has rejected the proposal of the Philippine National Bank (PNB) to convert into equity its P10-billion loan from the state-owned insurance firm.


PDIC president Norberto Nazareno said the state-owned insurance firm cannot accept the proposal since its charter does not allow it to directly have stakes in banks and it still has to consult with the Department of Budget and Management on whether government can absorb the loan.


                    [DatePublished] => 2001-02-09 00:00:00
                    [ColumnID] => 133272
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            [1] => Array
                (
                    [ArticleID] => 96687
                    [Title] => PNB proposes scheme to settle part of P10-B emergency loan from PDIC
                    [Summary] => The Philippine National Bank (PNB) wants to settle a portion of its P10-billion emergency loan from the Philippine Deposit Insurance Corp. (PDIC) through an off-selling scheme.


The scheme being proposed calls for the bank to merely transfer to the PDIC an estimated P9 billion in so-called sub-performing loans or bad accounts it had incurred by lending to the national government when the state still owned the bank.


                    [DatePublished] => 2001-01-08 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
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abtest

PDIC nixes PNB bid to convert loan to equity

February 9, 2001 - 12:00am

The Philippine Deposit Insurance Corp. (PDIC) has rejected the proposal of the Philippine National Bank (PNB) to convert into equity its P10-billion loan from the state-owned insurance firm. PDIC president Norberto...

Business

PNB proposes scheme to settle part of P10-B emergency loan from PDIC

January 8, 2001 - 12:00am

The Philippine National Bank (PNB) wants to settle a portion of its P10-billion emergency loan from the Philippine Deposit Insurance Corp. (PDIC) through an off-selling scheme. The scheme being proposed calls for...

Business