MANILA, Nov. 6 (Xinhua) -- China Banking Corp., one of the Philippines biggest commercial banks, chalked up 3.21 billion pesos (68.5 million U.S. dollars) in net profit for the first nine months of the year, or up 40.7 percent on year, on back of stronger revenues.

In its disclosure issued to the Philippine Stock Exchange Friday, China Bank officials reported that the bank's revenues increased 22.8 percent on year to 13.02 billion pesos (27 million U.S. dollars).

"With our continued focus on improving service, strengthening our balance sheet, and effective management of risks, we were able to sustain our growth momentum for this year. Our double digit growth is underpinned by our commitment to consistently deliver strong shareholder value," China Bank executive vice president and chief operating officer Ricardo Chua said in a press statement.

To strengthen its balance sheet, provisions for probable credit losses were more th...

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