PNB net income up 14% to P8.2 billion

THE Philippine National Bank (PNB) posted consolidated net profits of P8.2 billion in 2017, 14 percent higher compared to P7.2 billion reported a year ago, on the back of growth in core operating income.

The bank’s net interest income increased by 13 percent from the previous year driven by mainly by the expansion in its loan portfolio to P502.1 billion, up by 17 percent or P73.9 billion from 2016.

Total deposits, on the other hand, increased by 12 percent or P67.4 billion, to P637.9 billion.

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