Wednesday 14 November
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Nov 8, 2018 @ 13:55

China Bank income down 2% at P5.56B


This lender saw lower non-interest revenues slip from last year.

China Banking Corporation reported consolidated net income at P5.56 billion as of September 2018, down by roughly two percent from the P5.68 billion booked in January-September 2017.

Consolidated operating income grew by eight percent to P20.72 billion, driven by a 16 percent jump in gross loans which totaled P507.83 billion.

This was matched by a 20 percent increase in deposits worth P691.66 billion.

Total interest earnings grew by 20 percent to P17.08 billion, but non-interest revenues dropped by 26 percent to just P3.64 billion. Some P13.11 billion worth of operating expenses also offset these gains.

Still, the bank owned by bilyonaryo Henry Sy said it remains well-capitalized and with a lower share of problematic loans.

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