In accordance with RA No. 10173 (Data Privacy Act), I hereby consent to the collection, retention, processing, disclosure (as provided under applicable confidentiality and data privacy laws of the Philippines including all subsequent amendments or supplements there(to) of any personal, sensitive personal, and privileged information relating to me, whether provided by me or coming to the China Banking Corporation’s (hereafter referred to as “Company”) possession, and sharing of the said personal, sensitive personal and privileged information to the Company, its offices, branches, subsidiaries and affiliates, accredited third parties/vendors, credit reporting or credit reference agencies, credit protection provider, guarantee institutions, debt collection agencies, private regulatory organizations and other financial institutions, and other outsourced service providers engaged by the Company for the purposes reasonably required by the Company, for the Company’s conduct of everyday business, and/or only if required to do so by law or in good faith belief that such action is necessary to: (a) assess my suitability for employment with the Company or any of its subsidiaries; (b) submit reports to Senior Management on recruitment strategies and demographics; (c) submit reports to government agencies; (d) use as reference when conducting reference checks; (e) conduct background/credit investigation; (f) conform to the edicts of the law or comply with legal process served on the Company and its subsidiaries; (g) protect and defend the rights or property of the Company and its subsidiaries and (h) act under exigent circumstances to protect the personal safety of users of the Company and its subsidiaries or the public.
I shall notify the Company in writing, which must be acknowledged by the Company, if I do not consent to the aforementioned processing. I further acknowledge my right to information, access, correction, rectification, erasure of my personal, sensitive personal and privileged information, data portability, objection to processing and to file complaint under the Data Privacy Act. I agree that the Company may retain my personal information for as long as necessary for the fulfilment of the purpose for which it was collected and such other purposes that I may have consented from time to time, as required by pertinent laws and regulations, and provide information when required to do so in accordance with applicable laws, by court order, and jurisprudence.
If I provide the Company with any personal information relating to a third party (e.g. reference information, et.al.), I warrant to the Company that I have obtained the recorded consent of such third party to provide the Company with the third party’s personal information for the relevant purposes and can upon the Company’s consent request, submit the same for inspection.
I agree that the Company shall not be liable for any loss or damage arising from the Company’s disclosure of personal information for the above purposes.
View or download the current and past annual reports of China Bank. Each report contains detailed information about China Bank’s performance, operations, and activities and the complete financial statements and opinions of the independent auditors, including the required disclosures.
China Bank concluded a challenging year with P12.1 billion net income, 20% higher compared to 2019. The bigger profits translated to an improved return on equity of 12.09% from 11.04%, and a better return on assets of 1.21% from 1.10%. The strong growth in core businesses and better investment and trading returns offset the Bank’s pandemic-related loan buffer of P8.9 billion, which was 3.5 times higher than in 2019. Net interest income surged by 30% to P33.8 billion on the back of the 39% drop in interest expense, resulting in higher net interest margin of 3.92%. Non-interest income grew by 19% to P10.0 billion, lifted by trading and securities gains which expanded more than double in 2020 to P5.4 billion. Sustained efforts in cost management kept the growth of operating expenses controlled at 6% to P21.5 billion. Cost-to-income ratio improved to 49% from 59% as income growth continued to outpace expense growth.
Total assets stood at P1.04 trillion, up 8%. Gross loans ended flat at P572.3 billion as business customers reduced loan drawdown. Consumer loans grew 7% to P114.0 billion, accounting for 20% of the total loan portfolio. Gross non-performing loans (NPL) ratio rose to 2.3% but NPL cover remained sufficient at 128%. Deposits increased by 8% to P835.2 billion, underpinned by 14% growth in checking and savings accounts (CASA). The Bank’s successful fund raising via the issuance of P15 billion fixed-rate bonds in October 2020 also helped improve funding flexibility. This was followed by another oversubscribed bond offering worth P20 billion, issued and listed last February 18, 2021. Total capital reached P105 billion, 9% higher than last year’s P96 billion with a Common Equity Tier 1 (CET1) ratio of 13.8% and total Capital Adequacy Ratio (CAR) of 14.7%, both above the minimum regulatory requirement.