
PNB's 9-Month Profit Surges 15% to P21.3B on Lending Growth, Lower Bad Loans
Philippine National Bank (PNB) reported a 15% year-on-year increase in net income to P21.3 billion for the January-September period, driven by expanded lending and a decline in soured loans, signaling a robust recovery in its profitability.
Read up to 3 eligible full articles per Japan day (JST) for free
Create a free account to open up to 3 eligible full articles per Japan calendar day (JST). Headlines and summaries remain available across ASEAN 7.
Related articles
- UnionBank Profit Soars 53% to P9.9B in Nine Months
Union Bank of the Philippines reported a 53% surge in net income to P9.9 billion for the nine-month period, driven by wider lending margins and increased fee earnings. The bank also plans to integrate its digital banking and fintech arms.
- LandBank posts 7.6% profit growth in Q3
State-run LandBank of the Philippines saw its net income grow by 7.6% to P37.5 billion by the end of the third quarter, offsetting the impact of waived digital transfer fees. Stronger interest earnings and foreign exchange gains propelled the bank's performance.
- Citicore Renewable Energy Secures P35B for Five Batangas Solar Farms
Citicore Renewable Energy Corp. (CREC) has secured over P35 billion in syndicated financing, its largest to date, to fund five solar power projects in Batangas. This move is expected to accelerate investments in the country's renewable energy sector.
- JG Summit to Acquire Oriental Petroleum Shares from Unit
Philippine conglomerate JG Summit Holdings Inc. plans to acquire 37.05 billion shares in Oriental Petroleum and Minerals Corp. from its wholly owned subsidiary, JG Summit Capital Services Corp. This move is seen as part of the group's strategy to streamline investment management and consolidate holdings.