State-owned Land Bank of the Philippines on Wednesday reported a 3.41 percent increase in its net income in 2014 to P12.1 billion from P11.7 billion in 2013. Its return on equity was 16.4 percent.

The bank said treasury earnings rebounded in the last three months of the year after a slow growth for the first nine months of the year against comparatively exceptional gains in 2013.

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