PNB net income up by 20% in first quarter

Philippine National Bank (PNB) saw its net profits rise in the first quarter of the year on the back of growth in its core operating revenues.
In a disclosure late Tuesday, May 8, the Lucio C. Tan-owned bank booked a net income of P1.5 billion in the January to March period, up 20% from the P1.2 billion it logged the same period last year.
The lender attributed its improved profit on “24% year-on-year growth in core operating revenues.” — Karl Angelo N. Vidal