PNB net earnings climb 29% in Q2

PHILIPPINE National Bank’s (PNB) net profit jumped by 28.95% year on year in the second quarter amid the continued growth of its core business.

- Aaron Michael C. Sy

The bank’s net income went up to P6.43 billion in the three months through June, up from P4.98 billion in the same period last year, it said in a disclosure to the stock exchange on Monday.

In the first six months, PNB’s net earnings rose by 21.63% year on year to P12.52 billion from P10.29 billion “on the back of sustained improvements in core revenues consisting of net interest income and net service fees and commissions,” it said.