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Maybank Pilipinas : Deposits
- Malayan Banking Berhad (Maybank) acquires 60% equity stake in PNB Republic Bank, renames the bank MAYBANK PHILIPPINES, INC. (MPI) and takes over its management
- MPI pursues massive rehabilitation program entailing expensive computerization, progressive branch refurbishment and critical business development activities
- Maybank buys PNB's remaining shareholdings in MPI to increase ownership stake to 99.6%