China Banking Corp. (Chinabank), chaired by bilyonaryo Hans Sy, reported an 11% increase in first-half net income to P14.5 billion, driven by loan growth, balance sheet expansion and lower provisioning as asset quality improved.
The bank said net interest income rose 14% to P39.7 billion, while net interest margin widened to 4.67%.
Return on equity stood at 15.1%, while return on assets was 1.6%.
Operating expenses increased 11% to P18.4 billion, reflecting business expansion, while the cost-to-income ratio was 50%.
Chinabank booked P1.2 billion in impairment and credit loss provisions after its non-performing loan ratio improved to 1.5%. Its non-performing loan coverage ratio stood at 106%.
The bank said its balance sheet continued to expand, with total assets rising 13% from a year earlier to P1.9 trillion. Its loan portfolio grew 17% to P1.1 trillion, supported by demand from corporate and consumer borrowers, while deposits increased 14% to P1.5 trillion.
Total equity rose 11% to P192 billion, lifting book value per share to P71.46 from a year earlier. The bank’s capital adequacy ratio stood at 15.6%, while its common equity tier 1 ratio was 14.7%.
Separately, Chinabank said it continued to invest in its digital banking platform, launching its My CBC Business corporate digital banking service and adding new features and security enhancements to its My CBC retail mobile app and web platform.
