Bank of Commerce 2024 AR2
The report highlights Bank of Commerce's financial and operational performance in 2024, during which it achieved a record net income of PHP 3.03 billion, more than doubling its net profit from 2021. As an affiliate of San Miguel Corporation (SMC), the bank successfully expanded its lending activities within the SMC ecosystem, growing its client base to 1,719. It also declared cash dividends for the first time since going public. On the sustainability front, the bank formalized its ESG and Sustainability Framework Manual, reduced its water consumption to 25,136 cubic meters, and supported key national infrastructure and renewable energy projects.
Company: Bank of Commerce
Sector: Financials
Country: Philippines
Year: 2024
Type: AR2
Pages: 281
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Bank of Commerce
Annual Report
The report highlights Bank of Commerce's financial and operational performance in 2024, during which it achieved a record net income of PHP 3.03 billion, more than doubling its net profit from 2021. As an affiliate of San Miguel Corporation (SMC), the bank successfully expanded its lending activities within the SMC ecosystem, growing its client base to 1,719. It also declared cash dividends for the first time since going public. On the sustainability front, the bank formalized its ESG and Sustainability Framework Manual, reduced its water consumption to 25,136 cubic meters, and supported key national infrastructure and renewable energy projects.
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Document Details
Report Year
2024
Reporting Period
Jan 1, 2024 - Dec 31, 2024
Fiscal Year
2024
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Materiality Assessment
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Water Consumption
Employees