PBB loans reach P70B in 2017
Core income growth is stronger this year.
The Philippine Business Bank (PBB) reported a surge in lending in 2017, with its loan portfolio up 37.2 percent to hit P70.6 billion.
The increased lending prompted interest income to surge by 21 percent to P3.9 billion, with net interest gains reaching P3 billion.
PBB’s loan growth is matched by a 24.8 percent rise in deposits, which reached P73.5 billion.
There’s no way but up for this bank owned by businessman Alfredo Yao, with greater goals set for the year ahead.
“We enter 2018 with a sense of gratitude and pride as PBB has grown stronger over the last two decades – core income reached the highest we have achieved since our founding in 1997,” PBB President and CEO Roland Avante said in the disclosure.
“We look forward to continued momentum for PBB after a good year in 2017 coupled with the expected robust economic growth of the Philippines.”