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  • Writer's pictureBy The Financial District

Bank of Commerce Income Rose By 49%

Bank of Commerce, an affiliate of San Miguel Corp., earned a record P1.8 billion in 2022, a 49% increase from P1.2 billion a year earlier on the strength of its business segments.

Photo Insert: Bank of Commerce is an affiliate of Ramon Ang-chaired San Miguel Corporation.

The Bank said in a statement, gross revenues increased by 30% to P8.12 billion from P6.22 billion in 2021.

Net interest income surged to P6.68 billion, up 24% from P5.4 billion, while fee income grew 74% to P1.43 billion.

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