Banks' earnings up 6.4% to P290 B in 9 months

Earnings of Philippine banks rose by 6.4 percent to P290 billion from January to September compared to last year's P273 billion, according to the Bangko Sentral ng Pilipinas (BSP).

- KEISHA TA-ASAN

Banks' operating income increased by 11.7 percent to P939 billion during the nine-month period from P840.6 billion in the same period last year.

The sector's net interest income rose by 14 percent to P767 billion from P672.5 billion as interest earnings went up by 18 percent to P1.11 trillion from P940.6 billion, while interest expenses grew by 28 percent to P343 billion from P267.6 billion.

Likewise, banks' non-interest earnings grew by 2.3 percent to P172 billion from P168 billion on higher profit from fees and commissions as well as trading income.