Aboitiz Equity Ventures saw earnings skyrocket in the first half of 2021, according to its recent disclosure with the local bourse.
"This was primarily due to commissioning revenue from GNPower Dinginin Unit 1, higher water inflow, higher demand, and higher wholesale electricity spot market dispatch in compliance with the must offer rule," read the disclosure. The bank's net revenues, net interest income, and non-interest income all grew during the period, the conglomerate noted.
AEV's real estate arm AboitizLand and subsidiaries logged a ₱385 million income for the period, swinging from ₱39 million in losses last year.
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