RCBC net income flat
Rizal Commercial Banking Corp.’s (RCBC) net profit for 2018 remained flat at P4.3 billion, at the same time as its center profits posted double-digit growth. In a assertion on Tuesday, the Yuchengco-led lender mentioned that except non-routine income (buying and selling profits), its center income rose with the aid of 26 percent on the back of its more potent middle business, led via a 14-percent increase in internet hobby profits and a 7-percentage upward thrust in fee-based income. RCBC President and Chief Executive Officer Gil Buenaventura stated inside the statement that the financial institution’s stability sheet role became “stronger than ever,” noting that its general assets jumped by using sixteen percentage to P644.8 billion. Total deposits grew by using P35.Zero billion 12 months-on-year to P423.Four billion, even as modern account/savings accounts reached P230.3 billion as of quit-2018. The financial institution’s mixed internet hobby and price-based totally earning made up ninety one percentage of gross profits, which hit P26.Five billion.LISTED Manila Water Co. Inc.’s net earnings rose to P6.5 billion in 2018 on the again of higher tariff prices and marketplace enlargement.
In a disclosure, the Ayala-led water provider for eastern Metro Manila and Rizal province said the amount turned into a 6-percentage boom from P6.1 billion in 2017, adding that the increase “turned into driven in large part by means of the consistent performance of [its] Manila concession, strengthened with the aid of the approval of its fantastic tariff adjustment and business plan.”
State-run Metropolitan Water and Sewerage System (MWSS) authorised ultimate 12 months the water concessionaire’s charge hike, that is equal to P19.Thirteen in keeping with cubic meter and might be implemented in tranches for 5 years: P1.Forty six/cu.M. In October 2018, P2/cu.M. In January 2020; P2/cu.M. In January 2021; and between 76 centavos and P1.04/cu.M. In January 2022.
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