LT Group Posts Best Q1 Performance Since 2013

LT Group Inc. (LTG) of taipan Lucio Tan delivered its best first-quarter performance since its follow-on public offering in 2013.

- By RICHMOND MERCURIO

LTG recorded an attributable net income of P7.24 billion from January to March, 13 percent higher than last year's P6.42 billion.

The group's top line grew by 9.3 percent year-on-year to P31.15 billion, driven by improved revenues from the banking, distilled and property development segments.

Philippine National Bank (PNB) saw its net profit under the pooling method rise by 15 percent to P6.09 billion in the first quarter, with gross interest income improving by seven percent year-on-year on the back of higher yields and increased volumes in trading and investment securities as well as loans and receivables.