The board of directors of Philippine National Bank meeting held on August 25, 2023, approved the appointment of Mr. Francis B. Albalate as Chief Financial Officer 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.