Update on China Bank Net Income amid the Pandemic
CHINA BANK NET INCOME – China Banking Corp. revealed their net income for the first three (3) quarters of the year 2021 amid the pandemic.
The COVID-19 pandemic did not only affect small businesses that rely on daily profits but as well as the business giants. Many companies that have made a name in the field reported losses and struggles amid the pandemic. Truth be told that many firms had no choice but to reduce their branches or make unexpected changes to cope with the demands of the pandemic.
Meanwhile, there are also businesses that manage to stay afloat. They even looked for ways on how to extend more services to their clients even amid the “new normal” setting now. Among these are banks.
Banks are among the essential businesses that continue to operate even amid the implementation of strict lockdown measures. However, there are also adjustments in obedience to the protocols. Most banks reduce their physical workforce and their operating hours as well.
Meanwhile, many banks were able to cope with the demands of the pandemic by providing online services to their clients. They came up with more offers for the clients amid the time of crisis.
One of the banking companies that reported growth in their income is China Banking Corp. Based on a report on ABS-CBN News, the China Bank net income is at P11.2 billion in the first three (3) quarters of the year.
The China Bank net income from January to September of the year 2021 is 35% higher compared to the bank’s income the previous year within the same period. In a statement to the Philippine Stocks Exchange, the banks aid that the results surpassed their expectations.
During the third quarter of the year, the net earning of the bank grew 29% to P3.9 billion compared to the same period in 2020. China Bank President William Whang said that they will continue to support their clients as they “push for greater efficiencies and sustainable growth through digitalization and optimization” of their branch and ATM networks.
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