Sy family-led China Banking Corp. posted a P5.56-billion net profit at end-September, 2.1 percent lower year-on-year, due to a decline in trading gains.
Consolidated operating income grew by 8 percent year-on-year to P20.72 billion, driven by sustained growth of its core businesses.
Excluding trading and one-off gains, operating income was up by 16 percent, the bank disclosed to the Philippine Stock Exchange yesterday.
The bank’s loan book increased by 16 percent to P507.83 billion, with growth across all segments. Consumer lending expanded by 19 percent.
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On the funding side, total deposits rose by 20 percent to P691.66 billion, supported by a 29-percent growth in low-cost deposits to P394.98 billion.
Interest earnings from loans and investment securities led to a 20-percent rise in net interest income to P17.08 billion. Year-to-date net interest margin improved to 3.17 percent.
