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There will likely be an improvement ...but not in the percentage levels reported by UBP and BPI who made robust trading gains. I don't think PNB's treasury guys can match those of UBP and BPI. I hope though that I am wrong
hi mr banker... the big trading gains by BPI and UBP is as a result of their recognizing the gains from their "for investment" book by transferring securities they bought at the low a couple of years back, and selling it now at huuuge gain. So trading gains is a result of those positions from a couple of years back, not because of excellent trading this yr.
question is, once those securities to sell get depleted, then how are they gonna gain that much in trading gains? sell te old securities, then bonus time for them.
Banks normally "manage" their profits and that is an important activity where both treasury and marketing units try to coordinate and balance their acts together.
As banks do compete against other banks in showing better profits, they must continually plan ahead in making sure that profits will be there at whatever period. Thus, even if the securities are old, the mere fact that they have a source to book profits while others don't speak well of their respective units. If the gain is realized in the first quarter, it is a gain for that quarter and not the time when the securities were purchased. They always plan ahead of time to make sure they are close to meeting targets.
make my day, PNB...
Whew! Its ok boss banker, everything in red naman.
.i sold my bpi to cash in some for a 2 cups of coffee for me and my gf for the weekend ipits ako sa mbt...toinks....
Hope i can enter ur pnb boss soon...
We will probably read some updates soon as PNB’s scheduled May 29, 2012 Stockholders’ meeting prominently carries the topic “Merger Update” among its agenda.]
Reviewing my notes, so far the sequence of events that has already taken place is as follows:
Oct 18, 2011 : US Federal Reserve Board approved the Voting Trust Agreement covering Allied Bank’s Oceanic Bank Holdings that allows ABC and PNB to implement the merger;
March 26, 2012: Both ABC and PNB stockholders approved the revised merger plan in their respective stockholders’ meetings;
March 27, 2012: The application for approval of the merger was filed with the BSP and PDIC;
April 13, 2012: The application for approval of the merger was filed with the SEC
Based on my observation, it takes BSP some 18-21 calendar days to approve simple cash dividend declarations of banks. I am hoping a longer 60 calendar days will be sufficient for them to make a decision on the more complex issue of a merger. That decision may come just in time before the May 29 stockholders’ meeting.
Have been scouring the net for news. Wala naman akong makita....so hopefully the pullback is just because of the overall negative sentiment of the market.
Will try calling some friends at PNB and Allied Bank tomorrow.
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