Lucio Tan’s PNB tries luck anew, sets rebidding of P12B in real estate assets

Philippine National Bank (PNB) of bilyonaryo Lucio Tan is rebidding various properties in the hope of raising P12 billion.

Among the assets being sold by the bank are commercial lots and residential lands in Asiaworld City with an aggregate area of 23,73 square meters.

The commercial lots along Jefferson and Jefferson Avenue are priced at P7.3 billion, while the residential lands at Lincoln and Jefferson Streets in Marina Baytown West are valued at P1.18 billion.

Commercial buildings along Alabang-Zapote Road in Barangay Pamplona and Talon Dos in Las Piñas City, valued at P2.53 billion, are also up for grabs.

Outside NCR, PNB is looking to dispose various assets in Davao de Oro, Dagupan City in Pangasinan, Sta.Cruz in Laguna, and Kabankalan in Negros Occidental.

All interested parties have until Jan. 17 to submit their bids.

Swiss sweat over size of new superbank

The arranged marriage of UBS and Credit Suisse will create the biggest bank Switzerland has ever seen, with some wondering if the superbank might be too big for its own good.