Chinatrust net income up

MANILA, Philippines - The Chinatrust (Philippines) Commercial Bank Corp. has reported a P234-million income in the first five months of 2010, or a 173-percent increase from the P85.7 million it recorded for the same period the previous year.

The sharp increase was attributed to the Bank’s net interest differential business which generated an income of P666.9 million as of month-end May 2010, or an increase of P91.6 million over the P575.3 million generated the previous year. 

Combined fixed income trading and foreign exchange operations, in turn, generated a combined income of P89.3 million, which is 180 percent higher than the P31.9 million generated for the same period last year.