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Alsons Consolidated Resources Inc., (ACR) posted an increase in core net earnings in the first half of this year to ₱871.16 million from the ₱672.97 million recorded in the first half of 2020. Core net earnings for the second quarter of 2021 were also higher at ₱492.39 million from ₱362.49 million in the same period last year.

Core net income attributable to the parent was up in the first six months of 2021 at ₱267.06 million from ₱133.34 million in the first half of 2020, while attributable core net income in the second quarter of this year was at ₱174.18 million up from ₱78.25 million in the second quarter of 2020.

Alsons Posts Earnings of ₱871 Million in the First Half of 2021 Alsons Consolidated Resources Inc., (ACR) posted an increase in core net earnings in the first half of this  year to ₱871.16 million from the ₱672.97 million recorded in the first half of 2020…

LT Group, Inc.’s (LTG) attributable net income in the first half of 2021 amounted to Php3.73 billion, Php6.30 billion or 63% lower than the Php10.03 billion reported for the same period in 2020. This is mainly due to the higher provisioning for credit losses booked by its banking subsidiary and the elimination of the gain from the transfer of real estate assets at the consolidated level.

The to***co business accounted for Php8.97 billion of total attributable income. Tanduay Distillers, Inc. (TDI) added Php602 million. Asia Brewery, Inc. (ABI) contributed Php343 million while Eton Properties Philippines, Inc. (Eton) accounted for Php287 million. The 30.9% stake in Victorias Milling Company, Inc. (VMC) added Php169 million. Net expenses and other income at the parent level amounted to Php185 million. Philippine National Bank (PNB) had a negative net contribution of Php6.46 billion after eliminating the gain of Php33.60 billion at the consolidated LTG level.

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The Bank posted strong earnings in the first six months of 2021 with a net income of Php8.3 billion, 94% higher than the same period last year. This translated to a return on equity of 15.9%.

Net revenues increased by 16% to Php25.5 billion. Net interest income grew 7% to Php14.8 billion driven by higher net interest margins at 4.7% vs. 4.4% a year ago. Non-interest income rose 33% to Php10.7 billion on the back of strong trading gains, higher foreign exchange income, and higher fees & commissions.

Loan loss provisions were recorded at Php3.1 billion, 56% lower than last year as non-performing loans started to stabilize. The Bank’s NPL ratio improved to 4.7% vs. 5.1%. as of year-end 2020.

As of end-June 2021, total assets were at Php733.6 billion. Total loans and receivables were down by 4% year-on-year to Php336.9 billion on muted corporate and commercial credit demand. Total CASA deposits, on other hand, sustained a record growth of 28% to Php299.6 billion.

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