MANILA, Philippines — The SY family-led China Banking Corp. (Chinabank) posted a record net income of P13 billion in the first half of 2025, marking a 14 percent increase from P11.4 billion in the same period last year, driven by strong core business expansion.
The bank attributed the earnings surge to higher revenues, particularly in its interest income, which rose 15 percent year-on-year to P34.9 billion, helping push total revenues up 34 percent to P38.9 billion.
“We continue to deliver strong operating results in the first semester while supporting the needs of our customers and contributing to the growth of our economy,” Chinabank President and CEO Romeo Uyan Jr. said in a statement on Thursday.
Chinabank’s return on equity improved slightly to 15.2 percent from 15.1 percent last year, while return on assets edged up to 1.6 percent from 1.5 percent. Net interest margin rose by 13 basis points to 4.57 percent.
Gross loans reached P964.7 billion, up 18 percent from a year ago, supported by sustained economic activity and growing consumer confidence. Despite a lower non-performing loan (NPL) ratio of 1.6 percent—well below the 3.5 percent industry average—the bank set aside higher credit provisions amounting to P6.5 billion. This brought its NPL coverage to 125 percent, higher than the industry benchmark of 95 percent.
The loan expansion was funded by a 5 percent rise in deposits to P1.3 trillion, with checking and savings accounts growing by 10 percent.
“We are sustaining our growth momentum as we execute our strategy and focus on delivering quality service and value to our clients and stakeholders,” Uyan said.
Operating expenses rose to P16.6 billion amid investments in technology, manpower, and business expansion. However, Chinabank’s cost-to-income ratio improved to 43 percent, better than the 49 percent recorded in the first half of 2024.
Total assets grew 8 percent to P1.7 trillion, while total equity rose 15 percent to P174 billion. The bank’s capital adequacy ratio stood at 15.62 percent, above regulatory requirements, and book value per share rose by 15 percent to P64.65 from P56.42 a year earlier.
Chinabank Chief Finance Officer Patrick Cheng, said “Our robust performance was driven by our commitment to addressing client needs while effectively managing risks and promoting efficiencies.”
“We have ensured that our balance sheet remains strong,” he concluded.
