Sy-led China Banking Corp. continued its quarterly income growth streak in 2022, pushing up earnings in the first half by 39 percent to P10.1 billion.
China Bank, part of the Sy family’s SM Group, said gains were driven by higher interest income and a sharp drop in expenses for bad debts.
The lender saw a P5-billion earnings boost in the second quarter alone, the largest in its centurylong history, chief finance officer Patrick Cheng said in a statement on Thursday.
« Throughout the pandemic, the bank has consistently recorded quarterly income growth, » China Bank added.
During the semester, net interest income added 16 percent to P22 billion on strong revenue growth and the « s…
Keep on reading: Record quarterly earnings helped China Bank net P10.1B in H1