View or download the current and past annual reports of China Bank. Each report contains detailed information about China Bank’s performance, operations, and activities and the complete financial statements and opinions of the independent auditors, including the required disclosures.
China Bank’s net income rose 24% year-on-year to P10.1 billion in 2019, driven by the sustained robust growth of our core businesses. This translated to a return on equity of 11.04% and a return on assets of 1.10%. Net interest margin improved to 3.39%.Net interest income rose 14% to P26.1 billion, while fee-based income jumped 49% to P8.4 billion. Total resources reached P962 billion in 2019,11% higher than in 2018, bringing us closer to the P1 trillion asset milestone.
Gross loans expanded 13% to P578 billion, driven by higher demand across all segments. Consumer loans, in particular, grew 23% to P107 billion. Assetquality remained healthy amid the loans growth, with a gross non-performing loan (NPL) ratio of 1.5% and NPL cover at 129%.Total deposits grew 7% to P775 billion, underpinned by P412 billion in checking and savings account (CASA) deposits. Our P30 billion Peso retail bonds offer and US$150 million green bonds issue to International Finance Corporation also helped diversify our funding base and enhance funding flexibility. Six times oversubscribed, our maiden issue of fixed rate bonds had the largest number of investors and was the second largest issuance for the year in terms of volume. Total capital stood at P96 billion, up 9%. Capital adequacy ratios remained healthy with common equity tier (CET) 1 ratio at 12.8% and total capital adequacy ratio (CAR) at 13.7%.