CHINA Banking Corp., the eighth-largest lender in terms of assets, said consolidated net income in 2017 rose 15 percent to P7.4 billion from a year ago on the back of sustained growth in core and fee-based businesses.
The bank said in a disclosure to the stock exchange Friday the full-year performance translated into a return on equity of 9.90 percent and return on assets of 1.11 percent.
“We grew as projected and I am pleased that our strong fundamentals and solid organic growth gave us the platform to meet the opportunities and challenges in 2018,” bank president William Whang said in a statement.
Net interest income rose 17 percent to P20 billion, driven by the 17-percent growth in loan portfolio and stable net interest margin of 3.09 percent.
