Context.ph

UnionBank of the Philippines, the country’s 10th largest lender by assets, said it maintained its strong topline momentum in the first half, reporting total revenues of P39.7 billion, a 9.2 percent increase year-on-year. The growth was largely driven by higher net interest income and an expanded fee-income base, reflecting the bank’s solid performance across key areas.

Philippine National Bank, the country’s 8th lender by assets, posted a net income of P12.5 billion for the first half, a 22 percent increase driven by sustained improvements in core revenues. The revenue gains were primarily fueled by net interest income and net service fees and commissions. 

Megaworld Corp., the property development arm of billionaire Andrew Tan, said it raised P1.71 billion from the sale of 84.8 million shares of its real estate investment trust MREIT, Inc. The shares were priced at P13.82 per share.

BDO Unibank Inc., the Philippines' largest lender by assets, announced a 3 percent increase in net profit for the first half of the year, reaching P40.61 billion.

The agriculture sector continues to reel from compounding weather-related damage, with total losses now reaching ₱1.84 billion due to the combined effects of the southwest monsoon and Tropical Cyclones Crising, Dante, and Emong, according to a Sunday morning advisory from the Disaster Risk Reduction and Management Operations Center of the Department of Agriculture (DA).