RCBC net income lower but earning assets up in H1 | ABS-CBN
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RCBC net income lower but earning assets up in H1
RCBC net income lower but earning assets up in H1
ABS-CBN News
Published Aug 13, 2024 12:16 PM PHT
MANILA -- Rizal Commercial Banking Corporation (RCBC) saw lower net income in the first 6 months of 2024.
MANILA -- Rizal Commercial Banking Corporation (RCBC) saw lower net income in the first 6 months of 2024.
The bank said net income hit P4.5 billion from January to June, down 27.4 percent from the P6.2 billion in the same period in 2023.
The bank said net income hit P4.5 billion from January to June, down 27.4 percent from the P6.2 billion in the same period in 2023.
But earning assets were up, with net interest income climbing 28.6 percent to P19.7 billion. Total assets also grew to P1.3 trillion, higher by 8.33 percent.
But earning assets were up, with net interest income climbing 28.6 percent to P19.7 billion. Total assets also grew to P1.3 trillion, higher by 8.33 percent.
The lending arm of the Yuchengco group said consumer loans were up by 38 percent, with the credit card portfolio leading the pack at a 53 percent expansion.
The lending arm of the Yuchengco group said consumer loans were up by 38 percent, with the credit card portfolio leading the pack at a 53 percent expansion.
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The car and housing loan portfolio also grew by 28 percent.
The car and housing loan portfolio also grew by 28 percent.
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