China Banking Corporation (China Bank) and its subsidiary, ChinaBank Savings added seven new branches to its expanding branch network, closing 2011 with 293 branches nationwide. A total of 24 branches for the main bank and the savings bank were openedin 2011, including the seven new branches opened in December: Iloilo-Mandurriao, Bacolod Mandalagan, SM City-Dasmariñas, SM City-Olongapo, and San Fernando-Sindalan branches for China Bank and Tarlac and Santiago branches for ChinaBank Savings.
China Bank Iloilo-Mandurriao, which commenced business on December 16, is located along Benigno Aquino Ave., Barangay San Rafael, Mandurriao, Ioilo City. It is the Bank’s fourth branch in Iloilo, the regional center of Western Visayas. A week later, on December 23, China Bank Bacolod-Mandalangan Branch opened. Strategically located along Lacson St., Mandalangan, it is the Bank’s third branch in Bacolod City.
On December 28, three new China Bank branches began operations: SM City Dasmariñas Branch at the lower ground floor of SM City Dasmariñas in Cavite, SM City Olongapo Branch at SM City Olongapo in Zambales, and San Fernando-Sindalan Branch at Jumbo Jenra Sindalan in San Fernando City, Pampanga. SM City Dasmariñas Branch is China Bank’s the seventh branch in Cavite while San Fernando-Sindalan Branch is its eleventh in Pampanga. SM City Olongapo, on the other hand, is the Bank’s second branch in Zambales.
China Bank’s thrift bank subsidiary, ChinaBank Savings, now has 25 branches with the opening of its Tarlac and Santiago branches last December 29. Tarlac Branch is located along Camiling, Baguio-Bypass Road, Tarlac City while Santiago Branch is along the City Road, Centro East, Santiago City, Isabela.
The new full service branches offer a wide array of banking products and services and are equipped with ATMs for 24/7 banking convenience. Operating hours are from 9:00 am to 4:00 pm. during weekdays. Mall-based branches like China Bank SM City Dasmariñas and SM City Olongapo serve customers from Monday to Saturday, from 10:00 am to 5:00 pm.
Established in 1920, China Bank is the country’s first privately-owned commercial bank. It began its aggressive branch expansion program in 2006 when it had 141 branches at that time. In five years, 152 branches—including the branches from its acquisition of Manila Bank—were opened. To date, the total combined network is 293 branches complemented by 483 ATMs nationwide, including those of the savings bank subsidiary. China Bank’s goal is to grow its network to 400 branches by 2014.