China Bank posts record-high net income in first half of 2024 | ABS-CBN
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China Bank posts record-high net income in first half of 2024
China Bank posts record-high net income in first half of 2024
ABS-CBN News
Published Aug 01, 2024 04:41 PM PHT
MANILA -- China Bank's net income climbed 6 percent to reach a record-high P11.4 billion in the first half of 2024.
MANILA -- China Bank's net income climbed 6 percent to reach a record-high P11.4 billion in the first half of 2024.
The bank said this is because of stronger core lending and deposit-taking activities.
The bank said this is because of stronger core lending and deposit-taking activities.
China Bank said this brought about a 15.1 percent return on equity and a 1.5 percent return on assets.
China Bank said this brought about a 15.1 percent return on equity and a 1.5 percent return on assets.
Net interest income, meanwhile, hit P30.4 billion, up 19 percent as higher interest income offset
the rise in interest expense.
Net interest income, meanwhile, hit P30.4 billion, up 19 percent as higher interest income offset
the rise in interest expense.
China Bank, said it ended June with P1.5 trillion in total assets, 12 percent higher than numbers reported in the first half of 2023.
China Bank, said it ended June with P1.5 trillion in total assets, 12 percent higher than numbers reported in the first half of 2023.
Total loans, meanwhile, stood at P817 million--a 10 percent increase from last year, because of strong consumer demand.
Total loans, meanwhile, stood at P817 million--a 10 percent increase from last year, because of strong consumer demand.
China Bank's net income reached P10.8 billion in the first half of 2023.
China Bank's net income reached P10.8 billion in the first half of 2023.
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