BankCom earnings up 191% in 1H

Bank of Commerce , the banking arm of the San Miguel Group, posted a higher January to June net profits of P886.91 billion, up by 191 percent from P304.37 million same period last year.

Net interest income of P3.08 billion was 18.21 percent higher year-on-year after a 35.59 percent increase in its loan portfolio. Interest expense rose by 8.97 percent despite higher interest rates, said the bank. As of end-June, with more corporate borrowers, BankCom’s total assets amounted to P207.25 billion, up by 3.78 percent. Corporate loans also increased by P26.47 billion to P100.85 billion.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MREIT earnings hit P677M on higher occupancy rates - BusinessWorld OnlineMEGAWORLD Corp.’s real estate investment trust, MREIT, Inc., registered a P677-million net income for the second quarter of the year due to higher occupancy rates. READ:
Source: bworldph - 🏆 9. / 68 Read more »

SMIC rises after first-half earnings, geothermal deal - BusinessWorld OnlineSY-LED SM Investments Corp. (SMIC) inched up last week after its first-half earnings report as well as its foray into the energy sector with the acquisition of the operator of the Tiwi and Mak-Ban steam fields. Data from the Philippine Stock Exchange (PSE) showed that 2.02 million SMIC shares worth P1.58 billion exchanged hands from […]
Source: bworldph - 🏆 9. / 68 Read more »