Banco de Oro-EPCI H1 net income at P3.18B

Banco de Oro-EPCI Inc., the entity that came out from the merger of Banco de Oro Universal Bank and Equitable PCI Bank, on Friday announced that its consolidated net income for the first half of the year came in at P3.18 billion. In a statement, the lender said that compared to the P2.5 billion pro-forma income registered in the first half of 2006, this year’s first semester result is a 25 percent improvement. “Net interest income climbed 19 percent to P10.96 billion, as interest margins improved despite a slight growth in earning assets," Banco de Oro-EPCI said. As a result of its positive performance, the lender has declared a cash dividend amounting to P0.80 per common share. The banker said it will announce the dividend’s record and payment dates after it secures regulatory approvals for the exercise. - GMANews.TV