China Banking Corp. posted a record net income of P13 billion in the first half, up 14 percent year-on-year, driven by robust core business growth and strong asset expansion.
This translated to a 15.2 percent return on equity and 1.6 percent return on assets—among the best in the industry. Total revenues surged 34 percent to P38.9 billion, led by a 15 percent rise in net interest income to P34.9 billion, as higher asset yields and loan volumes lifted margins to 4.57 percent.
Gross loans expanded 18 percent to P964.7 billion, with increased lending to both consumer and corporate segments. Despite a lower non-performing loan ratio of 1.6 percent—well below the industry average of 3.5 percent—Chinabank set aside P6.5 billion in provisions, bringing NPL coverage to 125 percent.
Total deposits rose 5 percent to P1.3 trillion, supported by a 10 percent growth in checking and savings accounts. Operating expenses reached P16.6 billion on the back of investments in technology and business expansion, but the bank improved its cost-to-income ratio to 43 percent.
Total assets rose 8 percent to P1.7 trillion, while equity increased 15 percent to P174 billion. The capital adequacy ratio stood at 15.62 percent.
Celebrating its 105th year in August, Chinabank recently earned accolades from the ASEAN Capital Markets Forum, Asian Banking & Finance, and Fortune Southeast Asia 500 for innovation, governance, and customer service.
-0-
