INQ7 MONEY - BREAKING NEWS
August 01, 2006
Updated 10:16:20 (Mla time)
Cecille Yap
Xinhua Financial News Service
BANK of the Philippine Islands was firmer in early trading, extending Monday’s gains, after the country's second largest lender reported a seven percent rise in first-half net profit to 4.6 billion pesos.
BPI was up 0.50 pesos or 0.93 percent at 54.50 on volume of 318,100 shares. It was the second most actively traded stock.
The bank, a unit of conglomerate Ayala Corp., reported that its non-interest income -- which includes foreign exchange and securities trading gains, rental income, asset management and trust fees, and services charges and commissions -- grew 15 percent year-on-year in the first half.
But BPI said that growth was tempered by lower interest rates as net loans expanded by a slower seven percent to 230 billion pesos.
(One dollar = 51.56 pesos)
http://services.inq7.net/express/06/08/01/html_output/xmlhtml/20060801-12824-xml.html
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