Image via WikipediaChina Banking Corporation reported robust gains in 2010 with its audited net income improving by 22 percent to P5 billion on the back of continued loans growth and improved trading gains.
The bank said its fee-based businesses such as bancassurance, private banking, cash management and remittances also contributed to the earnings growth.
China Bank’s 2010 financial ratios underscore its sustained profitability in 2010: return on equity of 16.69 percent from 15.36 percent, return on assets of 2.15 percent from 1.90 percent.
“2010 was a year of dynamic growth for China Bank. We continued to pursue our aggressive expansion program ‘ branch openings, ATMs and even exceeded our income target of P4.4 billion,” said China Bank president Peter S. Dee.
http://www.mb.com.ph/node/306355/chinabank-profit-ri
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