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PNB net income up 61%
Higher non-interest income and trading gains pushed PNB's net income 61 per cent higher. The bank recorded an US$82 million net income in 2010 from US$50.9 million in 2009.
Philippine National Bank's non-interest income expanded 21 per cent to US$210 million while earnings from the bank’s trading portfolio grew by 86 per cent.
The bank's return on equity is also up 11 per cent from seven per cent a year earlier.
Total deposits swelled six percent to US$5.2 billion, while net loans and receivables grew 10 per cent. Consolidated resources went up by seven percent to US$7 billion.
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