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FICOBank Net Income Grows by 6.87% to Php82.74 Million in H1 of 2019

FICOBank registered a net income of Php82.74 million in the first half of 2019. It is 6.87 percent higher than the Php77.42-million bottom line that was registered in the same period last year.

The 6.87-percent growth in net income of the Bank for the first six months of the current year is 1.65 percentage points greater than the 5.55-percent record in June of last year. It also surpassed the net-income target for June 2019 by Php7.78 million. Ergo, a 110.38-percent achievement of the target has been recorded for this particular period.

FICOBank’s gross income for June, this year, increased by Php30.69 million or 9.90 percent over the last year’s record for the same period. Such increment in gross income is broken down into Php22.87-million interest income and Php7.82-million non-interest income, which are represented by 8.1-percent and 28.5-percent growth rates, respectively.

FICOBank attributed this solid operational performance to its loan-making, deposit-taking, treasury-based and service/sale-based operations that are getting better year after year.

Barring any unforseen events, and expressing optimism that its net-income trend will continue for the rest of the year, FICOBank expects a net income of at least Php143.00 million at the end of the year.





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