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EastWest president and chief executive officer Antonio Moncupa said the bank is now looking at a profit of P7 billion compared to a range of P5 billion to P6 billion set in June. Although still lower than the P12 billion original profit projection, the new income guidance is still higher than the P6. The listed bank booked a 33 percent jump in net interest income to P Likewise, non-interest income booked a double-digit 13 percent rise to P6. Total provision for potential loan losses reached P7. Last June, the bank estimated around P10 billion in loan loss provisioning or four percent of total loans based on an initial stress testing. For the third quarter alone, EastWest earmarked P2. A significant part of the provisions are pre-emptive in nature to anticipate the cash flow impact to households and businesses of the virus-induced disruptions. P7 businessConsider, that: P7 business
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