The Philippine Business Bank said Monday its net income last year surged 39 percent to P1.82 billion, fueled by higher net interest income traced to a growing loan portfolio.
Net interest income was up 16 percent to P6.42 billion last year as total net loans and receivables increased 14 percent to P117.6 billion. Net interest margin rose to 4.63 percent last year from 4.33 percent in the year prior.
On the funding side, deposit liabilities aggregated P126.7 billion from P114.5 billion in 2022. Low-cost deposits total P68.3 billion while time deposits reached P58.4 billion.
Shareholders’ equity stood at P18 billion equivalent to a book value per share of P21.25 net of preferred shares. Returns on assets and equity improved to 1.18 percent and 10.13 percent owing to net income growth.
Over the last five years, PBB’s net book value per share net of preferred shares has grown 5.2 percent from P13.12 in 2018.
