China Bank posts net income of P550 million for the first semester of 1999
PSE Circular for Brokers No. 1986-99 • Philippine Stock Exchange • Circulars for Brokers • Aug 10, 1999
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August 10, 1999 PSE CIRCULAR FOR BROKERS NO. 1986-99 China Bank posts net income of P550 million for the first semester of 1999 China Banking Corporation (China Bank) reported an after tax net income of P550 million for the first semester of 1999, up by 14.35% from P481 million last year. China Bank continued to strengthen its balance sheet by setting aside an additional P371 million for loan loss reserves, raising total reserves for possible losses to P1.86 billion or 4.87% of its gross loans. China Bank's resources grew by 5.73% from P57.10 billion the previous year to P60.37 billion in the first half of 1999. Deposits also climbed to P44.23 billion in the first semester. China Bank's network has grown to 138 branches and 134 ATMs nationwide. The Bank recently inaugurated its branches in Davao-Matina and Tarlac, Tarlac. cdt
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