The bank's net income in the first nine months translated to a return on equity of 15.7 percent and a return on assets of 1.6 percent, which were among the highest in the industry.
"This record performance is the result of the hard work of our employees, the continued execution of our strategies, and our steadfast focus on the needs of our customers," Chinabank president and CEO Romeo Uyan Jr. said in a statement.
From January to September, the bank's operating income increased by 14 percent to P46.3 billion amid higher interest income from loans, securities and other investments as well as growth in transaction-based income.
The lender's net interest margin improved to 4.4 percent as of September.
This story is from the November 08, 2024 edition of The Philippine Star.
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This story is from the November 08, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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