Chinabank Posts Record P13B Profit in 6 Months

China Banking Corp. (Chinabank) booked a record net income of P13 billion in the first half, up by 14 percent from a year ago, on the back of robust lending, higher yields and solid deposit growth.

- By KEISHA TA-ASAN

The earnings translated to a 15.2-percent return on equity and a 1.6-percent return on assets, among the best in the banking sector.

"We continue to deliver strong operating results in the first semester while supporting the needs of our customers and contributing to the growth of our economy," Chinabank president and CEO Romeo Uyan Jr. said.