China Bank ‘on track’ to hit P6.4-B FY profit target

CHINA Banking Corp., the listed affiliate bank of the SM Group, is confident it will reach its full-year profit target of P6.4 billion on the back of its robust loan business and the contribution streams from its thrift bank arm China Bank Savings.

For the first nine months of the year, China Bank’s net income increased 31 percent to P4.84 billion from P3.69 billion in the period last year.