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LANDBANK posts higher nine-month net profit as interest earnings rise - BusinessWorld Online

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LAND BANK of the Philippines (LANDBANK) recorded a 54% growth in its net income in the first nine months of the year on the back of higher interest earnings from loans and investments.

LAND BANK of the Philippines recorded a 54% growth in its net income in theThe state-run bank’s net income rose to P25.69 billion at end-September from P16.7 billion in the same period last year, pushing the lender closer to meeting its P25.71-billion profit target by yearend.gure translated to a return on equity of 14.89%, while return on assets was at 1.15%.

“The sustained earnings and solid capital base of LANDBANK keeps it in prime position for sustainable growth, which extends to the development sectors that we serve,” LANDBANK President and Chief Executive Officer Cecilia C. Borromeo said in a statement on Monday.

 

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