EARNINGS: LandBank says earnings up 20% last year

Land Bank of the Philippines has reported that its net profits totaled P8.1 billion last year, from P6.7 billion in 2009, buoyed by robust lending activities. The bank's revenues reached P33.6 billion a year ago, up from P31.4 billion in 2009, according to its statement. "These results further strengthen our financial standing and make us well-positioned for continued growth in order to support our priority sectors and the national government's strategic programs," LandBank president and chief executive officer Gilda Pico. The government-run bank said its regular loans increased to P213.5 billion last year, from P195.2 billion in 2009. Its total assets ended last year at P565.7 billion, up 11 percent from P510.6 billion in 2009. Its deposit base likewise expanded to P433.6 billion from P396.7 billion, while its capital accounts grew significantly to P63.2 billion from P47.8 billion. — JE, GMA News