China Bank first-half income up on trading gains

Higher trading gains lifted China Banking Corporation’s income for the first half, the bank told the Philippine Stock Exchange Thursday.

 

The Sy-controlled bank said non-interest income for the six-month period was up 4 percent to P2.05 billion on the back of higher trading gains and fees, and commission.

 

Net interest income grew to P7.42 billion due to higher loans volume and lower interest expenses which dropped by 6 percent to P2.06 billion.

 

The bank also noted a 14 -percent increase in consolidated profits to P2.51 billion as it sustained a “strong growth in its core businesses,” translating to a  return on equity of 8.67 percent and a return on assets of 1.06 percent. – Jon Viktor Cabuenas/VS, GMA News