Chinabank reports record earnings, net income up 13% to P18.4B

China Banking Corp. (Chinabank) reported record nine-month earnings, with net income increasing by 13 percent to P18.4 billion and total operating income rising by 14 percent to P46.3 billion.

The bank's strong performance was driven by higher interest income from loans and securities, as well as increased transaction-based income.

Chinabank's nonperforming loan ratio improved to 1.8 percent, reflecting better asset quality and a conservative provisioning stance with an NPL cover of 141%.

President and CEO Romeo Uyan Jr. attributed the record performance to the hard work of employees and strategic execution, while CFO Patrick Cheng highlighted supportive macro trends and regulatory environment.

Total assets at Chinabank reached P1.6 trillion by September, positioning it as the country's fourth-largest private bank.