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Manila Bulletin devider Business devider The Stock Market devider Chinabank grows Q1 profit to ₱6.8 billion on strength of core business

Chinabank grows Q1 profit to ₱6.8 billion on strength of core business

Published Apr 23, 2026 09:44 am

China Banking Corp. (Chinabank), the second financial services unit of the SM Group, posted a four-percent improvement in net income to ₱6.8 billion in the first quarter of 2026 on the back of strong core business growth.

The firm reported to the Philippine Stock Exchange (PSE) on Thursday, April 23, that this performance translated to a 14.2-percent return on equity (ROE) and a 1.5-percent return on assets (ROA).

Net interest income served as the primary growth engine, rising 14 percent year-on-year to ₱19.5 billion, supported by higher topline revenues and lower interest expenses. As a result, net interest margin (NIM) improved by 12 basis points (bps) to 4.61 percent from a year ago.

Operating expenses (opex) for the period rose by a manageable five percent to ₱8.8 billion, largely due to ongoing investments in human capital and digital transformation. The bank’s cost-to-income ratio remained efficient at 49 percent.

Chinabank maintained its position as the country’s fourth-largest private universal bank, with total assets reaching ₱1.9 trillion—a 12-percent increase driven by the strategic buildup of high-quality earning assets.

Gross loans reached ₱1.1 trillion, a 16-percent increase compared to the previous year, fueled by strong demand across both corporate and consumer segments.

On the funding side, total deposits grew 13 percent to ₱1.5 trillion, with checking and savings accounts (CASA) increasing by 20 percent year-on-year, improving the CASA ratio to 48 percent from 46 percent a year ago.

Despite steady asset quality, with a non-performing loans (NPL) ratio of 1.6 percent, Chinabank remained committed to prudence, increasing loan loss provisions to ₱684 million, resulting in an NPL coverage ratio of 110 percent.

Total equity grew by 10 percent to ₱192.3 billion, with a book value per share of ₱71.42, up 10 percent.

During the bank’s annual stockholders’ meeting (ASM) last April 15, stockholders approved the declaration of cash dividends totaling ₱7.5 billion, composed of a ₱1.80-per-share regular dividend and a ₱1-per-share special dividend.

This total payout is 12 percent higher than the previous year’s ₱2.50-per-share distribution, underscoring Chinabank’s financial resilience and commitment to disciplined capital management. - James A. Loyola

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