Bank merger lifts JG Summit bottom line by 16%

Higher revenues and gains from merging its banking business with that of the Ayala Group’s buoyed the nine-month earnings of Gokongwei-led JG Summit Holdings Inc., with the conglomerate expecting better consumer spending once the country’s macroeconomic environment improves. In a stock exchange filing on Wednesday, JG Summit, whose businesses include food, real estate and transportation,
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