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Worst performing bank stock: Lucio Tan to give away P6.5M in PNB shares to staff as bonus

Bilyonaryo Lucio Tan is giving bonuses to Philippine National Bank’s (PNB) staff in the form of the bank’s shares.

The Tan-led management bought 316,404 PNB shares at a P20.30 per share or a total of P6.423 million.

The shares purchase were made on behalf of eligible PNB officers and employees as part of their PNB Centennial Anniversary Bonus.

PNB is the worst performing stock among the top banks in the country as it has barely increased from its low of P18.54 when the stock market tanked in March 2020.

PNB’s stock has plunged by roughly 50 percent since its current president, Wik Veloso, took over in November 2018.

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