Tag: banking
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Banking industry outlook is ‘improving,’ says Fitch
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THE PHILIPPINE BANKING industry’s revenue prospects are seen to further improve this year amid strong lending growth and an expected delay in policy easing, Fitch Ratings said. In a commentary, Fitch said that it revised its outlook on the Philippine banking sector to “improving” from “neutral.” “We expect banks to…
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Banking, power, property boost FDC Q1 income to P2.9B
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FILINVEST Development Corp. (FDC) saw a 36% rise in its first-quarter (q1) attributable net income, reaching P2.9 billion from last year’s P2.2 billion, driven by gains in the banking, power, and property sectors. First-quarter total revenue and other income improved by 28% to P26.4 billion, FDC said in a statement…
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Banking, tobacco units lift LT Group’s profit to P6.42 billion in first quarter
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LUCIO C. Tan’s LT Group, Inc. reported a 1% increase in its first-quarter attributable net income to P6.42 billion, driven by its banking and tobacco units. Philippine National Bank (PNB) took up 46% or P2.97 billion of the total first-quarter income, while the tobacco business shared 41% or P2.65 billion, LT Group said…
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Ayala Corp. Q1 income hits P13B, driven by banking, property gains
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AYALA Corp. (AC) on Tuesday reported a 28% increase in its first-quarter (q1) attributable net income to P13.07 billion, driven by strong performances in its banking and property segments. First-quarter core net income, which excludes one-off items, improved by 26% to P11.8 billion, AC said in a statement to the…