Bank of Makati doubles income to P1.4B
Motorcycle loans allowed the bank’s bottom line to zoom ahead.
The Bank of Makati netted P1.4 billion income in 2017, more than double the P645 million it made a year ago.
In a report, BusinessWorld said the small bank made bigger profits due to a surge in lending, which grew by 15 percent to P22.36 billion.
Motorcycle loans were the biggest source of interest income as lending reached P15.66 billion.
Total deposits reached P22 billion, with bank assets up by 7.6 percent to P30.33 billion.