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PHILIPPINE NATIONAL BANK BOOKS 83 PCT JUMP IN YR NET INCOME.
MANILA, April 1 Asia Pulse - Philippine National Bank's (PNB) (PSE:PNB) audited net income jumped 83 per cent to P1.5 billion (US$35.9 million) in 2007 due to the 10 per cent increase in net interest income.
In a statement, PNB said its performance last year is the best in 10 years and was achieved even after the country had a low interest rate regime last year.
Total consolidated resources amounted to P239.7 billion while underlying profitability went up to P4.8 billion "without provisions for impairment and credit losses."
Lending to the small and medium enterprises (SMEs) as well as the government accounts grew 23.6 per cent and 12.4 per cent, respectively, it said.
PNB's consumer finance business also registered a positive figure after motor vehicles and housing loans aggregated to P1.6 billion from P836 million previously resulting to P76.6 billion ...
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Source: HighBeam Research, PHILIPPINE NATIONAL BANK BOOKS 83 PCT JUMP IN YR NET INCOME.