China Bank on track to meet 2015 income target

CHINA Banking Corp., the SM Group’s listed bank affiliate, said it is on track with income targets for the year on the back of an expanded network with the recent acquisition of Planters Development Bank (Plantersbank).

At the sidelines of the Philippine International Banking Convention on Friday, Alexander C. Escucha, China Bank senior vice president, said the 10-percent growth target in net income for the year is achievable despite the delayed approval by the Bangko Sentral ng Pilipinas (BSP) of the consolidation of Plantersbank into ChinaBank.