THE Philippine Bank of Communications (PBCom) recorded a lower net income in the first semester of 2015, citing lower trading gains.
Net income was down to P83.52 million from P190.43 million a year earlier due to a “significant decline in trading and securities gains by P55.72 million, driven by current market conditions and lower foreign exchange revaluation by P9.73 million.”
Revenues increase to P1.65 billion from P1.42 billion. Operating expenses grew to P503.57 million from P455.47 million.
Loans and other receivables increased by 13.2 percent to P32.939 billion in January to June from P29.97 billion in the same period last year on strong lending activity.
Total assets stood at P72.65 billion.
Its risk-based capital adequacy ratio is at 13.87 percent compared with the 10-percent minimum regulatory requirement.