MANILA -- Chinabank's net income reached P6.5 billion in the first quarter of 2025, up 10 percent from numbers in the same period last year.

In a statement, the lender said net interest income soared by 14 percent to P17.1 billion because of higher asset yields and loan volume.

Loans went up 19 percent to P954 billion on the back of brisk lending to businesses and consumers, the bank said.

Assets, meanwhile, climbed 10 percent to P1.7 trillion.

Chinabank also said it saw 8 percent more deposits at P1.3 trillion due to more checking and savings accounts (CASA) and time deposits.

Chinabank Chief Finance Officer Patrick D. Cheng said he hopes the bank's digital initiatives will help it grow further in 2025.

"We expect to provide better service, expand our customer base, and deepen client relationships with the launch earlier this year of our enhanced mobile app, My CBC, and other digital initiatives in the pipeline,” he said.

The bank's net income climbed 6 percent to reach a record-high P11.4 billion in the first half of 2024.