Head Office Address
China Bank Building 8745 Paseo de Roxas corner Villar Street, Makati City 1226 Philippines
China Banking Corporation (or China Bank) is the first privately-owned local commercial bank in the Philippines. It was incorporated on July 20, 1920 and started its operations on August 16, 1920. China Bank went public on December 1, 1965. It was the first bank in Southeast Asia to process deposit accounts on-line in 1969. It was also the first Philippine bank to offer telephone banking in 1988. In August 26, 1991, the Bank was issued a license to engage in universal banking.
Its financial products and services include deposits and related services, international banking services, insurance products, loans and credit facilities, trust and investment services, cash management services, and other services such as acceptance of various bill payments and donations to charitable institutions.
It derives its revenue from interest income (deposit taking and lending/investment activities) and other income including service charges, fees & commissions, trading and foreign exchange gain, trust fees, income from acquired assets, and other miscellaneous income.
In 2010, its 90th year, China Bank posted a net income of P5.0 billion or 22% increase. It ranked as the 8th largest commercial bank with assets of P257 billion as of December 2010 and was the 4th largest bank in market value. The Bank’s capital strength as measured by its return on equity and assets of 15.37% and 2.10%, respectively, is among the best in the industry. China Bank declared cash dividends of P12 per share plus 10% stock dividends, which when combined with the appreciation in share price gave its stockholders one of the best yields in the banking industry. China Bank was also the most active among the major banks in terms of network expansion, opening a total of 22 branches -- 253 for the main bank and 16 for China Bank Savings Inc -- bringing the total branch network to 269 by year-end 2010.
In the same year, China Bank was again recognized by the Bureau of Treasury as one of the “Top Ten Best Performing Government Securities Eligible dealers (GSED) in the Primary Market for 2010”. China Bank was a silver awardee in corporate governance by the Institute of Corporate Directors, recognizing its performance in protecting the rights and equitable treatment of its shareholders, role of stakeholders, disclosure and transparency, and Board responsibilities.
For 2011, China Bank’s core strategies are to continue to expand and diversify its revenue sources, broaden its distribution channels, maximize total customer relationships and strengthen the organization for better competitiveness.