FNBB fee income reaches P789m
Friday, February 23, 2024 | 450 Views |
Making moves: Bogatsu noted growth in FNBB’s customer numbers PIC: PHATSIMO KAPENG
Non-interest income has been a star performer for FNBB over the years, as the bank has reaped the dividends of its heavy investment in fintech innovation.
In the six months to December 2022, FNBB’s non-interest income grew by five percent to P757.3 million.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...