Quantcast
Article Index |Advertise | Mobile | RSS | Wireless | Newsletter | Archive | Corrections | Syndication | Contact us | About Us| Services
 
Wed, Jul 30, 2014 08:58 AM Philippines      25°C to 33°C
  HOME       NEWS     SPORTS     SHOWBIZ AND STYLE      TECHNOLOGY     BUSINESS     OPINION      GLOBAL NATION    SERVICES
Advertisement
Inquirer Mobile
Property Guide

INQUIRER ALERT
Get the free INQUIRER newsletter
Enter your email address:

 
Money / Top Stories Type Size: (+) (-)
You are here: Home > Business > Money > Top Stories

  ARTICLE SERVICES      
     Reprint this article     Print this article  
    Send Feedback  
    Post a comment   Share  

  RELATED STORIES  




imns


Allied Bank net income up 138.7% in ’09


Philippine Daily Inquirer
First Posted 20:12:00 04/21/2010

Filed Under: Banking, Economy and Business and Finance

TYCOON LUCIO TAN?S ALLIED BANKING Corp. reported a 138.7-percent jump in net profit last year to P1.2 billion over a year ago on the back of higher interest income and treasury gains.

Net income attributable to equity holders of the parent company amounted to P1.13 billion, which was likewise significantly higher compared to P483 million in bottom line booked a year ago.

The bank?s return on equity more than doubled to 5.87 percent in 2009 from 2.94 percent in the previous year.

Net interest income swelled by 23.63 percent to P1.28 billion year-on-year due to the increase in interest income on loans coupled with the increase in deposits and interbank loans.

Non-interest income also grew 36 percent as foreign exchange gains ballooned by 890 percent to P351 million from a year ago. The bank also booked P1.23 billion in investment trading gains, a turnaround from the loss of P1.25 billion in 2008.

On the expenditure side, total operating expenses went up 18.5 percent to P7.86 billion due to an escalation in overhead costs, increase in provision for impairment and credit losses, miscellaneous expenses as well as higher compensation and fringe benefits and occupancy and other equipment-related costs.

Capital adequacy ratio stood at 19.52 percent, up from 17.12 percent in 2008 and also higher than the minimum requirement of 10 percent.

In terms of asset quality, the ratio of non-performing loans to total loans fell to 1.77 percent from 2.3 percent.

The bank ended the year with total assets of P188 billion, up 7.5 percent from a year ago. Its deposit base grew 4 percent to P147.6 billion.

Meanwhile, the bank improved its efficiency as the ratio of total operating expenses to total income declined to 72.46 percent from 82.44 percent in 2008. This meant that the bank was only spending 72 centavos to earn P1. Doris C. Dumlao



Copyright 2014 Philippine Daily Inquirer. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



Share

RELATED STORIES:

OTHER STORIES:



  ^ Back to top

© Copyright 2001-2014 INQUIRER.net, An INQUIRER Company

The INQUIRER Network: HOME | NEWS | SPORTS | SHOWBIZ & STYLE | TECHNOLOGY | BUSINESS | OPINION | GLOBAL NATION | Site Map
Services: Advertise | Buy Content | Wireless | Newsletter | Low Graphics | Search / Archive | Article Index | Contact us
The INQUIRER Company: About the Inquirer | User Agreement | Link Policy | Privacy Policy

Advertisement
Federal land
Jobmarket Online
Inquirer VDO
BizLinq