Lopez Holdings Net Income Rises

Lopez Holdings Corp. recently reported that its net income reached Php4.38 billion last year. This is 13.59% higher than Php3.995 billion registered in 2011.

According to Lopez Holdings Assistant Vice-President for Media and Investor Relations Carla Sison, the profit uptick may be attributed mostly from share of extraordinary gains of First Philippines Holdings, Inc. (FPH) from the sale of Meralco shares.

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The Philippine Business Bank’s (PBB) net income for the first quarter of the year registered at Php593 million or 34.1% higher from last year’s figure. The bank said that favorable treasury markets contributed to the strong performance for the quarter. The bank’s loan portfolio increased by 42.93% to Php22.093 billion while deposits amounted to Php26.32 billion or 19.4% more than 2011’s Php22.042 billion.

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