Philippine National Bank (PNB) intends to grow its net income by 13-14% this year as it plans to ramp up the growth of its core businesses.
PNB Chief Financial Officer Nelson C. Reyes said that the lender aims to grow its bottom line by 13-14%.
“We’re trying to grow our deposit and loans as well as our fees and commissions,” Mr. Reyes told reporters following PNB’s annual stockholders meeting held in Manila yesterday, adding that the Tan-led bank aims to grow its commercial and consumer loans segments.
“We’re shifting [our focus] to commercial and consumer [loans]. One of the reasons for that is to diversify the risk. Second [is for] higher margins.” — Karl Angelo N. Vidal