CTS, a financial institution, has reported a net income of P23 million for FY23, which is a 56% decrease compared to the previous year. The company's total revenues increased by 18% to P103.7 million, primarily driven by interest income from low-yield government bonds. However, CTS experienced a significant decline in trading revenue, earning only P0.5 million compared to P32.5 million in the previous year. The company attributed its poor trading performance to various factors, including the US Fed's decision to keep interest rates higher for longer and market uncertainties.
] posted a FY23 net income of P23 million, down 56% from the P52 million it reported in FY22. CTS said that its total revenues increased 18% to P103.7 million, driven by interest income from its low-yield government bonds. CTS booked P0.5 million in combined trading revenue from its global and local trading desks, down 98% from the P32.5 it earned the previous year. Domestically, CTS earned P20.6 million in income, down 20% from the previous year’s P25.9 million. Internationally, CTS lost P20.
“Danger” heat index is expected in nine areas today amid the ongoing El Niño and dry season, according... 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.“Danger” heat index is expected in nine areas today amid the ongoing El Niño and dry season, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration.
CTS Net Income Revenue Trading Financial Institution Interest Rates Market Uncertainties
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