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Annual Report

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.

Performance Highlights

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%.

2018 2019
For the Year (In Million Pesos)
Net Interest Income 22,926 26,051
Non-Interest Income 5,658 8,431
Operating Income 28,584 34,482
Provision for Impairment & Credit Loses 141 2,570
Operating Expenses 18,056 20,324
Net Income Attributable to Equity Holders of the Parent Bank 8,110 10,069
At Year End (In Million Pesos)
Total Resources 866,072 962,226
Loan Portfolio (Net) 505,805 568,919
Investment Securities 190,235 212,836
Total Deposits 722,123 775,428
Stockholders' Equity 87,857 96,176
Distribution Network and Manpower
Number of Branches 620 631
Number of ATMs 966 1,002
Number of Employees 9,652 9,813
Key Performance Indicators (in %) Profitability
Return on Average Equity 9.54 11.04
Return on Average Assets 1.04 1.10
Net Interest Margin 3.56 3.39
Cost to Income Ratio 63 59
Liquid Assets to Total Assets 38 37
Loans (net) to Deposit Ratio 70 73
Asset Quality
Gross Non-Performing Loans (NPL) Ratio 1.2 1.5
NPL Cover 167 129
Common Equity Tier 1 Ratio (CET 1/Tier 1) 12.16 12.76
Capital Adequacy Ratio (Total CAR) 13.09 13.67
Shareholder Information Market Value
Market Price Per Share (In Pesos) 27.10 25.05
Market Capitalization (In Million Pesos) 72,788 67,282
Earnings Per Share (In Pesos) 3.02 3.75
Book Value Per Share (In Pesos) 32.71 35.80
Price to Book Ratio (x) 0.83 0.70
Price to Earnings Ratio 8.97 6.68
Cash Dividends Paid (In Million Pesos) 2,229 2,364
Cash Dividends Per Share (In Pesos) 0.83 0.88
Cash Payout Ratio (In %) 30 29
Cash Dividend Yield (In %) 2.49 3.39
Stock Dividends Paid (In Thousand Pesos) 1,988,729 -
Stock Dividends Per Share 8 -

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