China Banking Corporation reported a 31 percent growth in net income to P14.7 billion in the first nine months of 2022, from P11.2 billion in the same period last year, on the back of higher revenues and core fee income.
In a disclosure to the Philippine Stock Exchange, the bank said this translat
China Banking Corporation posted a 25 percent increase in net income to P15.1 billion last year on the back of sustained core business growth and effective cost management. In a disclosure to the Philippine Stock Exchange, the bank said its earnings translated to an improved return on equity and re
Published July 29, 2021, 3:38 PM
China Banking Corporation reported a 39 percent jump in net income to P7.3 billion in the first half of 2021 despite higher provisions as its core businesses delivered strong performances.
In a disclosure to the Philippine Stock Exchange, the bank said this translated to an improved return on equity of 13.4 percent and better return on assets of 1.4 percent.
The 100-year old bank sustained its profitability even as it continued to build up its loan loss provisions, recognizing P5.4 billion in pandemic-related credit buffers in the first semester, up 13 percent year-on-year.
“The strong execution of our strategies enabled us to rally through the challenges. We are continuously adapting and improving our services and operations to support our customers and the overall economy, and to remain well-positioned for sustainable future growth,” said China Bank President William C. Whang.
Published April 30, 2021, 6:00 AM
China Banking Corporation posted a 61 percent jump in net income to P3.6 billion in the first quarter of 2021 for an improved return on equity of 13.4 percent and return on assets of 1.4 percent.
“We are gratified by these very positive results and by the continued support of our customers and the dedication of our employees,” said China Bank President William C. Whang in a disclosure to the Philippine Stock Exchange.
Amid the economic downturn due to the pandemic, China Bank continued to post strong growth in its core businesses, to provide higher pandemic-related buffers, to absorb the one-time impact of the CREATE law on deferred tax assets, and to keep the growth of operating expenses moderate despite adjusting priorities for pandemic-related expenses.
Published February 27, 2021, 5:30 AM
China Banking Corporation (China Bank) reported a 20 percent growth in net income to P12.1 billion despite the challenges posed by the pandemic last year.
In a disclosure to the Philippine Stock Exchange, the bank said its bigger profits translated to an improved return on equity of 12.1 percent from 11.0 percent, and a better return on assets of 1.2 percent from 1.1 percent.
The strong growth in core businesses and better investment and trading returns offset the Bank’s pandemic-related loan buffer of P8.9 billion, which was 3.5 times higher than in 2019.
Net interest income rose by 30 percent to P33.8 billion on the back of a 39 percent drop in interest expense, resulting in higher net interest margin of 3.92 percent.