China Bank netted P 14.7B in first 9 months

China Banking Corp. booked higher profits in the first nine months of the year as its core lending business remained resilient despite looming concerns over an economic slowdown. China Bank---part of the Sy family conglomerate SM Investments Corp.---saw net income during the period surge 31 percent to P14.7 billion compared to the same period last year. "While there is continuous demand for loans, growth for the third quarter has been more measured in the light of current macroeconomic conditions," China Bank chief finance officer Patrick Cheng said in a statement on Thursday. China Bank saw corporate and consumer loans increase 14 percent to P697 billion during the period. ...

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