The board of directors of Philippine National Bank meeting held on August 25, 2023, approved the appointment of Mr. Francis B. Albalate as Executive Vice President, and Head of Financial Management Sector of the company. Effective date is September 18, 2023. Mr. Albalate has more than 24 years of professional experience from financial institutions.

Currently, he is the Controller and Head of the Financial Controllership Group of the Union Bank of the Philippines. He acquired the Pacific Rim Bankers Program at the University of Washington, received a graduate degree from Asian Institute of Management and an undergraduate degree from San Beda College. Effective August 25, 2023, Allan L. Ang appointed as First Senior Vice President, Deputy Head of Institutional Banking Sector and Head of Corporate Banking Group from First Senior Vice President and Head of Corporate Banking Group; Mariana Flores-Caculitan as First Senior Vice President, Deputy Head of Institutional Banking Sector and Head of Institutional Transaction Banking Group from First Senior Vice President and Head of Institutional Transaction Banking Group; Humildad M. Santelices appointed as Senior Vice President and Deputy Head of Institutional Banking Sector for Commercial Banking from Senior Vice President and Division Head of Corporate Banking Division C.