China Bank’s 2012 profit flat at P5 B

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MANILA, Philippines—The Sy family-led China Banking Corp. chalked up a consolidated net profit of P5 billion last year, flat compared to the previous year as its thrift bank subsidiary gnawed at overall profitability.

But China Bank sustained a return on equity of 12.39 percent and return on assets of 1.72 percent for the year.

Last year’s earnings were fueled by a 29 percent increase in loans to P198 billion, which grew 50 percent faster than the industry. Lending grew across all market segments—up 36 percent in commercial, 28 percent in consumer and 27 percent in corporate loans—cushioning the impact of lower yields and thinning margins.

Profits were also boosted by hefty trading and securities gains, expanding by 98.6 percent to P2.92 billion.

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  • http://profile.yahoo.com/SPLUBLEOSERDBOIJTDOC6XIWGU mxsclxmxn

    In the P100 BILL series 2012 Serial # ZK188477 has a logo of the Grand Lodge of Free and Accepted Masons. Freemasonry has its goal of destroying Christendom and replacing it with man-centered government and Satanic religion filled with errors. 
     
    How can this logo of a satanic group be allowed to print in the monetary instrument of the country with the constitution believing in a God asking for HIS Divine Providence?

  • upupperclassman

    As a major daily newspaper in the Philippines, Inquirer should be ashamed of its generally very poor quality of reporting of business news especially when such news deal with numbers. Take for example this article about flat earning of China Bank at P5.0 Billion. Ms. Dumlao reported that earnings were fueled by a 29% increase in loans which is 50% faster than industry. She further said hefty trading and securities gains boosted earning by 98.6%. At the end, China Bank’s profit remained flat as its thrift bank gnawed at overall profitability of the bank. What a metaphor-gnawed, must be some big losses yet no figure or explanation is given. This kind of news reporting left readers scratching their heads in trying to comprehend the news. Please send your reporters back to school. It also remains a question mark if China Bank wishes to be called Sy-led.

    • http://pulse.yahoo.com/_V6JTYBZXUSXIDCD67ACZK7NUKM Joseph

      Well the chairman is now a “Sy” instead of “Dee”.

      • upupperclassman

        The all powerful officer CEO is still a DEE.

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