The Philippine National Bank (PNB, Filipino: Bangko Nasyonal ng Pilipinas, Castilian Spanish: Banco Nacional de Agricola de Filipinas) (PSE: PNB) is one of the largest banks in the Philippines. It was established by the Philippine government on July 22, 1916, during the American Occupation. The bank was acquired by tycoon Lucio Tan after it was privatized by the government, and became the first universal bank in the Philippines in 1989. After its merger with the Tan-owned Allied Bank on February 9, 2013, PNB became fifth largest private domestic bank in the country.