Sy family-led China Banking Corp. sees itself in a good position to absorb future shocks and lead stakeholders into the postpandemic era.
During the bank’s stockholders meeting on Thursday, president William Whang reported that over 173,000 of its customers had benefited from the grace period offered by Bayanihan 1 and another 125,000 under Bayanihan 2. These two pieces of legislation are part of the country’s rescue plan for the economy.
“We continuously engaged with our customers adversely impacted by the pandemic on how we can help ease their financial burden. This also helped us maintain our asset quality, with an NPL (nonperforming loan) ratio of 2.3 percent, better than indus…
Keep on reading: China Bank assures buffer in place to absorb future shocks