The Daily Tribune
PBB reports P1.8-B profit, 57% higher
Philippine Business Bank (PBB) reported a 57.1% increase in net income, reaching P1.8 billion in the first nine months of 2024.
The bank's net interest income grew by 16.1% to P7.8 billion, driven by P120.6 billion in loans and receivables.
PBB Vice Chairman, President, and CEO Rolando Avante attributed the growth to capitalizing on the high-interest rate environment and effective cost management.
Non-interest income from service fees surged by 50%, and trading gains reached P402 million.
Deposits also rose by 13.5% to P131.9 billion, contributing to PBB's total resources of P161.3 billion.
The bank's core income increased to P2.4 billion, and shareholders' equity stood at P19.7 billion.
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