Philippine Daily Inquirer
1:43 pm | Thursday, March 7th, 2013
MANILA, Philippines—The Sy family-led China Banking Corp. chalked up a consolidated net profit of P5 billion last year, flat compared to the previous year as its thrift bank subsidiary gnawed at overall profitability.
But China Bank sustained a return on equity of 12.39 percent and return on assets of 1.72 percent for the year.
Last year’s earnings were fueled by a 29 percent increase in loans to P198 billion, which grew 50 percent faster than the industry. Lending grew across all market segments—up 36 percent in commercial, 28 percent in consumer and 27 percent in corporate loans—cushioning the impact of lower yields and thinning margins.
Profits were also boosted by hefty trading and securities gains, expanding by 98.6 percent to P2.92 billion.
Follow Us
Recent Stories:
Short URL: http://business.inquirer.net/?p=111057
Tags: Banking and Finance , Business , News
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
seo tools
No comments:
Post a Comment