Banks’ 2018 income boosted by rate hikes

Feb 11, 2019 12:15 am

Double-digit interest income growth allowed Philippine banks to post profit gains last year despite bad debts and investment losses.

Preliminary central bank data indicated that the banking system’s net income hit P178.83 billion in 2018, 6.4 percent higher compared to the P168.07 billion posted in the previous year.

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