RETAIL BANKING | Cesar Tordesillas, Philippines

Profits up 13.91% for Philippine Savings Bank

Opportunities in its investment portfolio.

This is where Philippine Savings Bank attributes its 13.91 percent improvement in net income of P1.76 billion in the first nine months of 2012.

Another is to the strong growth from its loan portfolio.

As of September 2012, gain on securities trading was at P2.57 billion, a 234.69 percent increase from P766.39 million recorded in the same period last year.

Interest income from loans and receivables increased to P5.21 billion, 9.19 percent better than the P4.77 billion recorded during the same period last year.

Likewise, interest earned from Interbank Loans Receivable and SPURA climbed by 137.95 percent to P289.53 million versus P121.67 million last year while interest earned from deposits with other banks also increased by 47.47 percent to P3.67 million from P2.49 million a year ago.

Foreign exchange gain reached P7.41 million compared to the P0.21 million posted a year ago.

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