The revision was mainly driven by improvement on its bank asset quality.
Moody’s Investors Service has revised the credit rating outlook of Bankero Lucio Tan’s bank, Philippine National Bank (PNB) from negative to stable due to an improvement in the bank’s asset quality over the past 12 months.
The credit rating agency said the new report reflects the agency’s expectations that the bank’s asset quality shall remain stable, while its profitability will gradually improve, supporting its overall credit profile.
