PHILIPPINE National Bank (PNB) on Friday said that its board had approved the issuance of P3 billion in bonds with an option to upsize up to P20 billion.
The bank told the stock exchange that the board earlier that day approved and confirmed the issuance of P3 billion in debt securities, “with option to upsize up to P20 billion, in single or dual tranche, out of the P50-billion bond and commercial paper program.”
No further details were disclosed about the pricing and tenor of the bonds or the offer period.
PNB reported a consolidated net income of P6.1 billion in the first three months of 2025, up 15 percent from the P5.3 billion recorded in the same period last year.
Core income in the first quarter rose 10 percent year on year to P14.1 billion with net interest margin growing 9 percent to P12.7 billion, aided by the combined effect of the increase in the bank’s loan portfolio and treasury assets.
Other income rose to P1.9 billion from P1.2 billion in the comparable period last year, boosted by gains from trading and foreign exchange transactions, as well as the sale of foreclosed properties.
Operating expenses in the quarter, meanwhile, rose 10 percent to P8.1 billion as the bank pursued expanding its consumer banking segment.
Last month, the bank said that it had exceeded P200 billion in total trust assets under management (AUM) in early 2025 as a result of deepening client relationships and continued momentum in digital innovation.
As part of its enhanced digital investment services, the bank said that its Unit Investment Trust Fund (UITF) Online facility, accessible through PNB Digital, recently surpassed the P1-billion mark in total online subscriptions.
PNB shares rose P2.20, or 3.63 percent, to close at P62.80 apiece on Friday amid a 0.48-percent decline for the benchmark Philippine Stock Exchange index.
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