Landbank nets P7.6B income

Posted on . Filed under Members News. Be the first to comment.

The Land Bank of the Philippines (LandBank) continued to post higher profits with net income reaching P7.6 billion for the first nine months of 2012. The 7% growth from the P7.1B registered in the same period last year is due to the increase in income on loans and investments, foreign exchange profit and slight decrease in expenses. The Bank attained a high return-on-equity of 14.2% as of September 2012. The Bank’s total assets also expanded to P629.2 B from P590.6 billion. Deposits also increased to P489.5B from P459.6B, while capital expanded to P73B from P65.6B in the same period last year. Gross loan portfolio in turn grew to P241.9B from P237.5B. The Bank’s Basel II CAR of 20.9% as of end-September 2012 remained much higher than the regulatory standard of 10%. The strong capital ratios reflect the Bank’s capacity to aggressively expand its loan portfolio as the country’s economic recovery further gains momentum.

Comments are closed.