Quantcast
Article Index |Advertise | Mobile | RSS | Wireless | Newsletter | Archive | Corrections | Syndication | Contact us | About Us| Services
 
  Breaking News :    
Advertisement
Property Guide
Inquirer Mobile

INQUIRER ALERT
Get the free INQUIRER newsletter
Enter your email address:

 
Breaking News / Nation Type Size: (+) (-)
You are here: Home > News > Breaking News > Nation

  ARTICLE SERVICES      
     Reprint this article     Print this article  
    Send Feedback  
    Post a comment   Share  

  RELATED STORIES  




imns



Chinatrust’s net profit grows 20% to P410M

By Doris Dumlao
Philippine Daily Inquirer
First Posted 15:55:00 03/17/2011

Filed Under: business, Banking

MANILA, Philippines ? The Philippine unit of Taiwan-based banking giant Chinatrust Commercial Bank grew its net profit in 2010 by 20.84 percent to P410 million, on the back of improved interest margins and large treasury earnings.

This translated to 7.3 percent return on equity and 1.6 percent return on assets of Chinatrust (Philippines) Commercial Bank.

Better margins were on account of lower cost of funds while income from treasury operations substantially increased, the bank in a disclosure to the Philippine Stock Exchange on Thursday.

"The favorable economic environment that prevailed last year allowed Chinatrust to take advantage of the opportunities in the bond markets," the bank. Trading gains and foreign exchange gains thus amounted to P307 million, an increase of 90.33 percent from a year ago.

Net interest income on the other hand, amounted to P1.56 billion for the same period under review, or an increase of 3.6 percent from a year ago.

For the year 2010, Chinatrust has set aside some P286.95 million as provisions for potential loan losses.

The bank?s capital adequacy ratio to risk assets ? a key measure of financial strength ? was recorded at 24.68 percent as of year-end, higher than industry average and substantially higher than the BSP requirement of 10 percent.



Copyright 2014 Philippine Daily Inquirer. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



Share

RELATED STORIES:

OTHER STORIES:



  ^ Back to top

© Copyright 2001-2014 INQUIRER.net, An INQUIRER Company

The INQUIRER Network: HOME | NEWS | SPORTS | SHOWBIZ & STYLE | TECHNOLOGY | BUSINESS | OPINION | GLOBAL NATION | Site Map
Services: Advertise | Buy Content | Wireless | Newsletter | Low Graphics | Search / Archive | Article Index | Contact us
The INQUIRER Company: About the Inquirer | User Agreement | Link Policy | Privacy Policy

Advertisement
Megaworld
TAGAYTAY FONTAINE VILLAS
Radio on Inquirer.net
Inquirer VDO