PNB posts 1.3B income for the First Quarter
THE Philippine National Bank posted a net income of P1.3 billion in the first quarter of 2014.
Last year’s first quarter performance was 53% higher, which was mainly brought about by substantial gains in trading and investment securities but the net interest income, which accounted for 68% of the total operating income, rose by 70% to P4.5 billion.
During the quarter, the bank’s loan portfolio increased by P4.3 billion across all customer segments despite the squeeze in margins amidst a low interest rate environment while the consolidated assets reached P611.9 billion.
PNB has branches in Pangasinan’s four cities, Alaminos, Dagupan, San Carlos and Urdaneta, as well as in the capital town Lingayen and in the municipality of Tayug.
In recognition of the Bank’s business excellence, two of its products and services recently garnered accolades from industry peers. These are ATM Safe that won the Best in Innovation Award in the 2013 Philippine Insurers and Reinsurance Association, Inc. Awards while the Healthy Ka Pinoy Emergency Card won the award for Excellence in Business Model Innovation in the 2013 Asian Trailblazer Awards of Retail Banker International.
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