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Lucio Tan pumps in P515M into PNB-Mizuho leasing firm

The Philippine National Bank led by bilyonaryo Lucio Tan is beefing up its equity in its financing and leasing subsidiary.

The PNB board has agreed to invest an additional P515 million into PNB-Mizuho Leasing and Finance Corp.

This will increase PNB’s shareholdings in PNB-Mizuho Leasing and Finance from 75 percent to 83.5 percent.

The new investment came a year after PNB changed the firm’s name from PNB-IBJL Leasing and Finance Corp. (it also changed the name of PNB-IBJL Equipment Rentals to PNB-Mizuho Equipment Rentals).

IBJL is part of the Mizuho financial group of Japan.

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