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.
This story is from the November 13, 2024 edition of The Philippine Star.
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This story is from the November 13, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
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