Published April 28, 2021, 5:00 PM Aboitiz Equity Ventures Inc. recorded a 276 percent surge in consolidated net income to P7.6 billion for the first quarter of 2021 from the P2.0 billion reported in the same period in 2020. In a disclosure to the Philippine Stock Exchange, the firm said it recognized non-recurring losses of P219 million during the period under review, compared to the 262 million in non-recurring losses for the corresponding period in 2020, which was primarily due to the goodwill write-off related to City Savings Bank, Inc. Aboitiz Logo (via aboitiz.com/Manila Bulletin) Without these one-off losses, AEV’s core net income for the first quarter of 2021 was P7.8 billionn, a 243 percent increase year-on-year (YoY).