PNB net income up 61%

Higher non-interest income and trading gains pushed PNB's net income 61 per cent higher. The bank recorded an US$82 million net income in 2010 from US$50.9 million in 2009.

Philippine National Bank's  non-interest income expanded 21 per cent to US$210 million while earnings from the bank’s trading portfolio grew by 86 per cent.

The bank's return on equity is also up 11 per cent from seven per cent a year earlier.

Total deposits swelled six percent to US$5.2 billion, while net loans and receivables grew 10 per cent. Consolidated resources went up by seven percent to US$7 billion.