Inquirer
Philippine Business Bank earnings flat at P1.8B on lower trading gains
Philippine Business Bank (PBB) recorded a net income of ₱1.8 billion in 2024, which was flat compared to 2023, primarily due to trading losses.
The bank's net interest income increased by 4.36 percent to ₱6.7 billion in 2024 from ₱6.4 billion in 2023.
PBB's core earnings, encompassing interest income, service fees, and miscellaneous income, grew by 10.9 percent year-over-year to ₱3.4 billion.
However, this growth was offset by the bank's trading performance, which resulted in a net loss of ₱87.6 million in 2024, a reversal from a gain of ₱287.8 million in 2023.
The interest rate environment at the end of 2024 differed from expectations due to geopolitical factors and events, according to PBB vice chair, president and CEO Rolando Avante.
Total net loans and other receivables grew by 9 percent to ₱128.3 billion.
Moving forward, PBB plans to focus more on the profitability of its core lending business, particularly consumer loans.
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