In a disclosure on Friday, the Sy-led lender said the latest figure was 61-percent higher than the P2.2 billion profit it netted a year ago. This translated to an improved return on equity of 13.4 percent and return on assets of 1.4 percent. It booked credit provisioning of more than five times to P2.2 billion from P412 million in the same period last year. The bank’s operating expenses stood at P6.2 billion, up 6 percent with a better cost efficiency ratio of 49 percent. China Bank’s shares climbed by 40 centavos, or 1.69 percent, to close at P24 each on Thursday.

Source: Manila Times April 29, 2021 16:18 UTC