MANILA, Philippines - Gotianun-led
Filinvest Development Corp. posted a net income of P1.21 billion in the first
quarter of the year, up 6.14 percent from the previous level.
Total consolidated revenues grew 41
percent to P6.49 billion, 51 percent of which or P3.27 billion came from the
real estate segment.
The financial services unit
contributed P2.67 billion or 41 percent while sugar operations chipped in P400
million. Hotel operations, on the other hand, pumped in P154 million.
Real estate sales expanded by 41
percent to P2.42 billion on higher sales of middle-income projects consisting
of newly-launched medium-rise buildings and high-rise buildings and increase in
sales of Filinvest Corporate City lots.
Mall and rental revenues, on the other
hand, rose 12 percent to P466 million, driven by higher occupancy rate and the
opening of another office building -Vector 2 in January 2012.
East West Banking Corp. reported a
four percent rise in net income to P460 million as total interest and other
income increased by 36 percent to P2.68 billion. Interest income climbed 23
percent to P1.83 billion due to 20 percent growth in loans to customers in both
corporate and consumer business.
As of end-March this year, EWBC’s
total branch network reached 144 while the total number of ATMs deployed was
144, an increase of 15 ATMs from December 31, 2011, in both onsite and offsite
locations.
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