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September 23, 2023

Philippine Business Bank reports strong H1 2023 results

Philippine Business Bank (PBB) reported a 40.1 percent increase in net income to P869.2 million for H1 2023, up from P620.3 million in the same period last year, with core income reaching P1.41 billion.

PBB disclosed a pre-tax pre-provision profit of P1.51 billion, marking a 28.3 percent rise compared to the prior year, while net interest income grew by 26.6 percent to P3.16 billion during the first six months of 2023.

Total loans and receivables stood at P103.8 billion, and total resources reached P137.2 billion by end-June 2023.

Bankero, PBB President and CEO Roland Avante noted that despite market uncertainties, PBB achieved solid top-line growth due to better interest rate margins, healthy loan expansion, and improved trading income.


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