Core income rose to P12.9 billion, up 7 percent, driven by a 12 percent growth in net interest income to P11.7 billion, thanks to better loan yields and portfolio expansion.
Other income decreased significantly to P1.2 billion from P3.4 billion last year. This was mainly due to a prior large real and other properties acquired sale.
Operating expenses dropped by 8 percent to P7.3 billion, and impairment loss provisions were down 62 percent to P620 million, reflecting strong recovery in the bank's loan health.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
