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June 22, 2024

Caloocan-based thrift bank delays annual stockholders’ meeting by 1 month

Philippine Business Bank (PBB) led by bankero Rolando Avante has delayed its annual stockholders’ meeting by one month due to the unavailability of supporting and material documents to submit preliminary information sheet.

The Board of Directors of the country’s third largest thrift bank approved the resetting of its annual stockholders’ meeting to July 29 from June 24.

Under the bank’s By-Laws, PBB is supposed to hold its annual stockholders’ meeting during the last Friday of May.

The thrift bank based in Caloocan City has requested for an extension on the submission of its quarter report as management and its external auditor are still finalizing the 2021 full year and first quarter 2022 figures.

PBB is owned by the family of businessman Alfredo Yao.