Allied Bank

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As of Jun-17-2013
CURRENCY	BUY	SELL
US Dollar	42.4000	43.0000
Japanese Yen	0.4282	0.4642
Euro	54.8900	58.5800
Hong Kong Dollar	5.2500	5.5800
Bahrain Dinar	107.1700	114.7800
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T - BILLS

Treasury Bills Auction Date: 3 June 2013
	91-DAY	182-DAY	364-DAY
High	0.900%	1.000%	1.250%
Low	0.900%	1.000%	1.250%
Average	0.900%	1.000%	1.250%
Ave. Inc.(+)/Dec. (-) over the past week	0.683%	0.602%	0.648%

FAQS ON ALLIED BANK AND PNB MERGER

Frequently Asked Questions [FAQs] on the Merger

Question/s [Q]: What is the rationale for the merger?

Answer/s [A]:

PNB and Allied Bank are merging to form a bigger and stronger bank that can compete more aggressively in the industry which has seen a lot of consolidation in recent years. The merger will create the fourth biggest private domestic bank in the country in terms of total assets, deposits, and loans. The merged bank will also have the fourth largest domestic branch network and the widest international footprint among local banks.

[Q]: Which will be the surviving bank after the merger?

[A]:

PNB will be the surviving entity due to the following considerations: size, number of years in the business, scope of operations, foreign licenses, regulatory and tax efficiencies.

[Q]: When do you expect the merger transaction to be finalized?

[A]:

The merger had been ratified by both PNB and Allied Bank stockholders last June 24, 2008. It is subject to the approval of the Securities and Exchange Commission and the Bangko Sentral ng Pilipinas. The clearances of regulatory agencies are expected to be obtained within the middle of 2009.

[Q]: After approval of the merger by regulatory bodies, when will the actual integration of the two banks take place?

[A]:

We expect full integration to be completed within one (1) year after the legal merger.

[Q]: What are the benefits of the merger to PNB stockholders?

[A]:

The merger of the two banks is expected to generate significant revenue enhancement opportunities and cost savings benefits. These are expected to translate into improved financial prospects for PNB as well as more favorable returns to the shareholders.

[Q]: How will the merger benefit the clients of both banks?

[A]:

The consolidation of PNB and Allied Bank will result into greater accessibility and convenience to clients through its expanded branch network both in domestic and international fronts. Post merger PNB will have the 4th biggest domestic network in the industry: 626 branches (PNB 324 and Allied/Allied Savings 302) and 654 ATMs (PNB 393 and Allied 261). Its international reach will be the widest at 116 branches and offices (PNB 103 and Allied 13). Additionally, clients can also look forward to improved banking products and services that address their specific needs.

[Q]: Will there be changes in the products and services offered by PNB and Allied Bank immediately after the merger is approved?

[A]:

The product and service offerings of both banks are currently being evaluated with the end view of providing customers with the most competitive and responsive banking services. The new product line-up of the merged bank will be properly communicated to clients once this has been finalized.

[Q]: Will there be a uniformity of interest rates for clients of both banks?

[A]:

Yes, Under the rationalization of products, both banks will eventually sell the same products with the same standard rates. Additionally, deposit account requirements such as initial deposit and maintaining balances will also be standardized upon full integration,

Q]: Can Allied Bank depositors access their accounts in a PNB branch on Day 1 of the merger?

[A]:

No. An Allied Bank account cannot be accessed in any PNB branch on Day 1 and vice versa as the Banks' core banking system are not yet integrated upon that point.

Q]: Will Allied Bank depositors have to submit new requirements upon legal merger? What about PNB clients?

[A]:

No. Allied Bank depositors will not be asked to submit new documents unless they are opening new accounts in which case the standard requirements will apply. PNB clients will not be affected.

Q]: Can Allied Bank depositors still continue to use Allied Bank's e-banking facilities upon the merger?

[A]:

Upon merger, Allied Bank depositors can still continue to use Allied Bank's e-banking facilities. However, once their branch of account has been integrated into the PNB system, Allied Bank clients can have the option to enroll their account to avail of PNB e-banking facilities.

Q]: When will clients be able to do inter-branch transactions in either bank?

[A]:

Inter-branch transactions in either bank will be possible only after full system integration is completed.

Q]: Can PNB ATM cardholders transact at Allied Bank ATMs or vice versa without being charged network fees once the merger is approved?

[A]:

Yes. PNB ATM cardholders can do Balance Inquiry and Withdrawal transactions on Allied Bank ATMs and vice versa without incurring network fees. Either no fees will be reflected as you transact, or fees will be reversed automatically no later than the next banking day.

Q]: Can clients of PNB or Allied Bank still use their existing ATM cards after the legal merger?

[A]:

Yes. Clients may continue to use their PNB or Allied Bank ATM card. Their ATM account or card numbers will remain the same.

Q]: Can PNB ATM cardholders go to Allied Bank to report a lost card or request for card replacement and vice versa once the merger is approved?

[A]:

No. This is not possible in the interim. Clients need to go to their servicing bank/branch of account to do these transactions.

Q]: What ATM consortium or network will the merged bank be joining?

[A]:

Currently, the Bank is evaluating the options that would best serve the requirements of its depositors. This will be announced as soon as a decision is reached.