COL Reports 76% Increase in Net Income for FY23

] reported FY23 net income of P426 million, up 76%, on higher revenues and lower operating expenses . Total customer accounts increased by 3.5% from 516,247 to 534,154, and total customer deposits increased by 1.9% from P105 billion to P107 billion. Total revenues increased 30.6% to P1.09 billion driven by the interest income that COL earns off of its customers’ cash deposits. COL ’s commission income fell 26.

The Asian Development Bank has trimmed its growth forecast for the Philippines for this year, citing risks posed by extreme... The onset of the dry season coincides with the nation grappling with the continued effects of El Niño, anticipated to persist until May, according to national weather bureau PAGASA.The Asian Development Bank has trimmed its growth forecast for the Philippines for this year, citing risks posed by extreme weather events that can drive up inflation and the slower growth in advanced economies.

The agency’s latest heat index bulletin said the eight areas will be under the “danger” classification, with temperatures ranging from 42°C to 44°C.Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Source: Loan Digest (loandigest.net)

COL Net Income FY23 Revenues Operating Expenses Customer Accounts Customer Deposits Interest Income Commission Income

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