Friday 16 November
Powered by Ajaxy
Nov 9, 2018 @ 19:55

Earnings of Eastwest, RCBC fall

 

Gotianun-owned East West Banking Corp. and the Yuchengco-led Rizal Commercial Banking Corp. (RCBC) both reported lower net earnings in the nine months to September.

In separate disclosures, both banks said profit declined to P3.2 billion.

EastWest’s nine-month profit fell by 13 percent from a year ago due to lower revenues from its rural banking arm and the absence of one-off gains.

The suspension of EastWest Rural Bank’s lending program for public school teachers weighed on the bank’s bottomline.

Net interest income rose by six percent to P14.5 billion even as fees and commissions declined by 16 percent from a year ago.

Meanwhile, RCBC’s net income dipped from P3.4 billion last year due to pale trading gains. Core income grew by 42 percent on higher loan revenues.

Please follow and like us:

Tags: , , ,

Related Stories
Will he be succeeding the outgoing president?
Bangladesh Bank is planning to seek assistance from the United States to recover the bulk
It's the second major merger in a week.
This bank wants to empower its financing arm to do more transactions.


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.