Philippine Business Bank’s net income is $9.02m in Q2

The SME-focused bank announced a PHP0.64 EPS for Q2.

Philippine Business Bank (PBB) has reported a net income of $9.02m (PHP521m) in Q2, higher than the $6.58m (PHP380m) it earned in the same quarter in 2023, data from the Philippine Stock Exchange (PSE) showed.

Gross revenue for the April-June 2024 period was over $46.22m (PHP2.67b), versus the $38.43 (PHP2.22b) reported for the same period in 2023.

Gross expenses are $16.3m (PHP942m) during the same period, versus $16.52m (PHP954m) in Q2 2023.

PBB announced basic earnings per share (EPS) of PHP0.64 for Q2.

PBB is a bank focused on servicing small and medium enterprises (SME) in the Philippines. In the 2010s, it acquired the assets of three banks across the Philippines: the Rural Bank of Kawit, the Bataan Savings and Loan Bank, and the Insular Savings Bank. 

PBB now has over 160 branches, most of which are located in Caloocan, Malabon, Navotas, Valenzuela, and Quezon City in Metro Manila. It also has branches in Davao, General Santos, Bacolod, and Cebu.

(US$1 = PHP57.76; as of 7 August 2024, 12:36PM)