BY UNICAPITAL SECURITIES
China Bank Corp. (CHIB) 2014 profit was flat from the previous year. CHIB said it earned PHP 5.11 billion last year, only slightly higher than the PHP 5.10 billion in 2013.
The Henry Sy-owned bank attributed last year’s profitability to the “sustained growth in core business operations.” Operating income increased by a quarter to PHP 18.85 billion, with three-fourths of this coming from the core business of lending at PHP 14.09 billion.
China Bank’s non-interest income dipped 8% year-on-year to PHP 4.76 billion, but would have risen by nearly a third to PHP 4.22 billion if trading gains were excluded.