Asiatrust Bank (ATB) recently held its Annual Stockholders' Meeting where President Dionisio Ong reported that net income of the Ban for fiscal year ending June 30, 2006 rose by 56% to P102.6M vs. previous year's P65.8M.
This translates into higher earnings per share and return on equity figures of P0.99 abd 5.92% in 2006 vs. P0.63 and 4.05% in 2005, respectively. While net interest income rose by only 12%, non-interest income from the lending and fund management sectors registered a 134% gain over last year. Total Deposits grew by 8% to P11B due to the Bank's greater emphasis on credit disciplie. The Bank has been focused on maintaining and growing its base of SME clients, providing innovative financial solutions to the Filipino Entrepreneur. It had been honored earlier this year as the Most Distinguished Partner by the SBCorp for SME Lending. The Bank intends to continue to increae its profitability and value over the long term, while working on further improving its efficiency and customer service, capitalizing on its niche market and strengthening its capital base. Currently, it is ranked as the 5th largest thrift bank in the country with total resources of P14.3B as of June 30, 2006 , up by 9% from a year ago. Shown in photo during the Stockholders' meeting at the Hotel Intercon were (from left to right): ATB Vice Chairman Roland Garcia, Corporate Secretary Edwin Yan, Chairperson Gloria Garcia and President Dionisio Ong.
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