Maclang Retires, Veloso to Take Over as PNB President

Reynaldo A. Maclang is retiring from his post as president of the Lucio Tan-led Philippine National Bank (PSE: PNB) effective November 15, 2018. Maclang will be replaced by Jose Arnulfo “Wick” Veloso, former president and Chief Executive Officer of HSBC Philippines. He will assume office effective November 16, 2018. “The Philippines is poised for long-term, […]
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LTG Posts PhP2.25B 1Q Net Income

Taguig—(PHStocks)—LT Group Inc. (PSE: LTG) has reported that its unaudited attributable net income for the first quarter of 2017 amounted to PhP2.25 billion, flat compared to the PhP2.23 billion reported in 1Q16. The tobacco business contributed PhP1 billion or 45% of total attributable income, followed by Philippine National Bank (PSE: PNB) at PhP699 million or […]
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PNB Net Income Registers 20% Increase for 1H 2016

Pasay—(PHStocks)—The Philippine National Bank (PSE: PNB) reported a net income of PhP4.3 billion for the first half of 2016, reflecting a 20% improvement over its earnings of PhP3.6 billion for the same period last year. The strong performance for the semester was attributed to the 24% increase in operating income. Growth in core revenues continued to be driven by […]
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LTG 1H 2016 Net Income Up 28% to PhP4.6B

Taguig—(PHStocks)—LT Group Inc. (PSE: LTG) reported today an unaudited attributable net income of PhP4.56 billion for the first half of 2016, 28% more than first half 2015’s PhP3.57 billion. Philippine National Bank (PSE: PNB) contributed PhP1.73 billion, or 38% of LTG’s attributable income. The tobacco business accounted for PhP1.45 billion or 32% of total, followed […]
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PHStocks Exclusive: Top 50 Best Performing Stocks in June

Manila—(PHStocks)—The Philippine Stock Exchange index flirted with 8,000 level yesterday—the inauguration of incoming President Rodrigo Roa Duterte—before closing down at 7,796.25, just 2.28 point lower from the previous day’s close. As intra-day high hit 7,980.75 yesterday, profit taking pulled back the gains as investors lock in their gains. For the month of June, below are […]
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LTG Eyes New Growth Drivers After Strong 2015 Performance

Taguig—(PHStocks)—LT Group Inc. (PSE: LTG) has a generally positive outlook for 2016 as it eyes new growth drivers to surpass last year’s PhP6.6 billion net income. In a statement following the group’s annual stockholders’ meeting, LTG president Michael G. Tan said the company is looking at capital expenditures of about PhP10 billion this year. The […]
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LTG 1Q 2016 Net Income Up 40% to PhP2.2B

Taguig—(PHStocks)—LT Group Inc. (PSE: LTG) has reported that its unaudited attributable net income for first quarter 2016 reached PhP2.2 billion, 40% higher than the PhP1.6 billion reported during the same period last year. The tobacco business contributed PhP945 million or 42% of total income. This was followed by Philippine National Bank (PSE: PNB) with PhP708 […]
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PNB Reports Php6.3 Billion Net Income in 2015

Pasay–(PHStocks)–The Philippine National Bank (PSE: PNB) sustained its profitability in 2015 with consolidated net income increasing by 15% to P6.3 billion, driven by continued improvements on earnings from its core business particularly net interest income and net service fees and commissions. During the year, PNB’s net interest income, comprising 67% of the total operating income, improved by  7% […]
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