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Philippine’s H1 banking profit plummet 34.7pc
Philippine’s H1 banking profit plummet 34.7pc
MANILA: The Philippine banking sector’s net profit dropped 34.7% in the first half of the current year from a year ago as local banks suffer from trading losses. The country’s central bank, the Bangko Sentral ng Pilipinas (BSP), said the whole industry’s net profit in the first six months of 2014 reached only Php63.7bn (USD1.42bn) after earning Php97.7bn (USD2.17bn) a year ago. The BSP, however,…
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