Chinabank Q1 profits up on sustained core-business growth | Bianca Cuaresma

📆 06-05-22 10:40:00
📰 BusinessMirror

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China Banking Corp. announced that it has recorded net profits of P4.9 billion in the first quarter of 2022.

CHINA Banking Corp. announced that it has recorded net profits of P4.9 billion in the first quarter of 2022.

The bank reported that its net interest income rose 15 percent year-on-year to P10.8 billion on the back of higher earning assets and lower interest expense. Its net interest margin further improved to 4.3 percent. “China Bank’s organic growth momentum continues—loans and deposits are up, expenses are down, and credit quality remains solid,” China Bank President William C. Whang said.

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