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FICOBank Sustains Net-Income Growth in 2018

To stay in the business of banking, it is important for FICOBank to sustain its profitability and growth. These factors can never be taken too lightly by the Bank, as profitability is vital to its business operations, while growth is crucial to its corporate existence. Both go hand-in-hand when it comes to the Bank’s success in business.

In 2018, FICOBank remained profitable in its business operations. It likewise registered a positive growth in net income despite the upheavals in the market, which were brought about by the rising inflation rate and falling interest rate that later on tapered off and ballooned out, respectively.

FICOBank ended the year on a high note, with a net income of Php138.60 million. The Bank enjoys a bottom-line increment of Php7.17 million, from the Php131.43-million figure a year ago. Ergo, the Bank ably registered a year-on-year growth of 5.46 percent—far better than its two-year growth rates of 4.72 percent in 2017 and 2.42 percent in 2016.

And, in reference to the Php138.0-million target in net income for the year just ended, the Bank has an operational performance rating of 100.43 percent. The achievement of such net income can be attributed to the strategies of the Bank in the management of its assets and liabilities, as well as its revenues and expenses. The same allowed the Bank to handle pricing, control costs and manage profitability. The increase in the sales of its financial products, which is coupled with a substantial growth in low-cost deposits and high-earning loans, has likewise significantly contributed to the said net income.

With this business success in 2018, the Bank shall continue to keep getting better in 2019 and in the years to come.

 

 

 

 

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