ARTICLE SERVICES            Reprint this article     Print this article       Send as an e-mail     Send Feedback       Post a comment       RELATED STORIES   Dollar falls broadly, yen up as risk appetite fades Asian currencies recover but vulnerable Dollar dip has little effect on BPO profits--ePLDT chief S&P affirms RP ratings, stable outlook Banks still get to boost lending Thrift bank up for sale BSP ready to act to counter downturn Focus backs out of Tindalo venture BSP wants cover for forex losses GMA 7 expanding overseas IPP contracts sale pushed Mobile money exchange scheme launched Lodestar, OVMPC sign deal More Stories » Business Aim to retire with no debts PLDT taps Meralco for new venture Corporate war comes to Philex RCBC bent on expansion EDC to raise P18B more April exports fall 35.2% on year Wall Street crook to earn pennies Piltel transforms into holding firm Plan your fun-spending this summer Money lessons you won't learn in class Business GMA 7 expanding overseas New mobile network offers lowest call rate Thrift bank up for sale BSP wants cover for forex losses S&P affirms RP ratings, stable outlook Focus backs out of Tindalo venture Mobile money exchange scheme launched QC judge told issue arrest order vs PBA cager MetroPac heats up race for SCTEx Banks still get to boost lending Hope for the farmers in 2010 BSP ready to act to counter downturn   Business Most Read RSS Jorge's Portrait Studio Look for: Baby Jimeno Tel. No.: 724.6920 or 723.3586 Mobile: 0917.8467407 Wally Gonzales Photography Look for: Arlene Lacea Tel.No.: 890.5524 or 890.1318 Mobile: 0917.8492559

Banco de Oro, a unit of conglomerate SM Investments Corp., expects net interest income to grow 27 percent to P27.3 billion.

But it sees trading gains from government securities and foreign exchange to drop 41 percent to P2.75 billion.

"We don't believe high trading gains will continue because of the high interest rate environment. (But) there's a room for us to grow in net interest income," Banco de Oro President Nestor Tan told reporters ahead of the bank's annual stockholders' meeting.

SM Investments, which also has interests in shopping malls and real estate development, and partly owns the smaller China Banking Corp., is owned by tycoon Henry Sy.

Banco de Oro reported on Thursday a 24 percent drop in first-quarter net profit to P1.34 billion due to weak trading gains.

Shares in Banco de Oro were unchanged at P48.00 at the close on Friday. SM

Investments rose 2.4 percent to P255.00.

($1 = P42.60)

• Dollar falls broadly, yen up as risk appetite fades
• Asian currencies recover but vulnerable
• Dollar dip has little effect on BPO profits--ePLDT chief

• S&P affirms RP ratings, stable outlook
• Banks still get to boost lending
• Thrift bank up for sale
• BSP ready to act to counter downturn
• Focus backs out of Tindalo venture
• BSP wants cover for forex losses
• GMA 7 expanding overseas
• IPP contracts sale pushed
• Mobile money exchange scheme launched
• Lodestar, OVMPC sign deal