Chinabank earnings up 13% to a record P18.4B
China Banking Corp. saw record nine-month earnings as its core businesses registered strong growth.
In a statement on Thursday, the Sy family-led bank said its net income jumped by 13 percent to P18.4 billion.
Total operating income stood at P46.3 billion, up by 14 percent on higher interest income from loans, securities and other investments, as well as growth in transaction-based income, according to Chinabank.
READ: Chinabank nets record P11.4B during first half of the year
Nonperforming loans ratio eased to 1.8 percent from 2.2 percent, signaling better asset quality as bad loans declined.
Article continues after this advertisement“This record performance is the result of the hard work of our employees, the continued execution of our strategies, and our steadfast focus on the needs of our customers,” Chinabank president and CEO Romeo Uyan Jr. said.
As of end-September, total assets at the country’s fourth-largest private bank reached P1.6 trillion.
