April 04, 2013

PBB net income of P654 M

From a PSE disclosure: Philippine Business Bank (PBB) reported an income of P654 M for 2012. The bank ended the year with an ROE of 18%. The Bank enjoyed strong growth in net loans and receivables as it grew by 25% YOY to P20.9 B.

Despite the healthy uptick in loans, PBB's prudent credit policies allowed the bank to improve on its NPL ratio to 3.09% in 2012 compared to the 3.59% in 2011. Total deposits, also recorded a similar growth rate of 25% to end the year at P26.4 B.

The prevailing low interest rate environment has put pressure on the industry's Net lnterest Margins (NlMs). As a result, net interest income slightly declined to P1.073 B from P1.085 B. Non-interest income grew by 16% to P884 M contributed substantially by trading gains.