ATRKE Financial first quarter numbers up

MANILA, Philippines - ATR KimEng Financial Corp. (ATRKE Financial) has posted a net income of P116.2 million for the first quarter of 2011, representing a 30-percent growth from the P89.5 million recorded in the same period last year. Total revenues rose to P835.2 million and consolidated assets ballooned to P6.4 billion. ATRKE Financial president Manuel Tordesillas said growth drivers came from its core capital markets, insurance and real estate segments. Its capital markets group reported an increase in advisory and underwriting fees from P1.5 million to P7.3 million. Commissions through ATR KimEng Securities Inc. (ATRKE Securities) grew 35 percent to P143.9 million, and value turnover of P54.3 billion. ATR KimEng Asset Management Inc. (ATRKE Asset Management) and the trust department had combined assets under management of P8.83 billion, up 72 percent from P5.13 billion compared to year ago figures. Fee incomes for ATRKE Asset Management grew by 52 percent from P4.5 million to P6.8 million. AsianLife & General Assurance Corp. and AsianLife Financial Assurance Corp. together contributed the bulk of the group’s revenues as it reported net insurance premiums of P537 million, a 16 percent increase from last year’s levels. Finally, real estate group ATR KimEng Land Inc. registered total real estate sales of P22.2 million in the first quarter of the year, up 197 percent from P7.5 million in the first quarter of last year.