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Company Profile

Over Nine Decades of Trust and Partnership

2016
China Bank wins the Bell Award for Corporate Governance for an unprecedented fifth year in a row. It is also named “Banking & Finance firm of the Year” by UK-based magazine Finance Monthly. Fitch Ratings upgrades the bank’s Long Term Issuer Default Rating to ‘BB+’ and its Viability Ratings to ‘bb+’ with Stable outlook, and later affirms these ratings. Aiming to support various revenue streams, China Bank infuses an additional P2-billion capital to its thrift banking arm China Bank Savings. Its investment banking house, China Bank Capital, buys a stock brokerage house and puts up a special company for securitization deals. China Bank also began issuing up to P20-billion LTNCDs to support its strategic initiatives and business expansion. China Bank is one of the first banks to convert all ATM cards to the new EMV standard, and to unveil a new ATM user experience where the machines mimic a smartphone’s interface. It also upgraded its personal banking portal to allow customers to transact in a faster and easier way.

2015
The Bangko Sentral ng Pilipinas (BSP) approves China Bank’s plan to establish an investment house subsidiary, China Bank Capital Corporation (China Bank Capital).  China Bank inaugurates China Bank Corporate Center, a PEZA-accredited 18-story BPO tower in Cebu Business Park and rolls out Finacle Core Banking Solution (FCBS) from Infosys to support the Bank’s expanding operations and drive customer loyalty, growth, and innovation.

2014
China Bank acquires the country’s leading bank for small and medium enterprises, Planters Development Bank, to be merged with China Bank Savings (the surviving bank). China Bank also successfully raises P8 billion from its stock rights offering, issuing 161,609,878 shares at P49.50 per share, and increases its ownership stake from 5% to 40% in Manulife China Bank Life Assurance Corp. (MCBLife), its bancassurance joint venture with Manulife Philippines. Ricardo R. Chua succeeds Peter S. Dee as the new president & chief executive officer on September 1, 2014. China Bank wins a Bell Award for Corporate Governance for the third year in a row—the only bank among the awardees and one of only two companies to have won three times—and wins Corporate Governance Asia’s Outstanding Company on Corporate Governance Award.

2013
China Bank teams up with global financial services giant MasterCard to launch China Bank MasterCard World, Platinum, and Classic in 2015. The Bank also strengthens its operations with a new wealth management system developed by Sopra Banking Software, a leading software and IT services company based in France; a leading-edge ATM/payment switch and Authentic from Alaric, a UK-based provider of payment and enterprise fraud detection systems; and The China Bank App that makes it convenient and secure to do banking transactions using an Apple iPhone, iPad, iPod or iTouch. China Bank also wins a Bell Award for Corporate Governance for the second consecutive year.

2012
China Bank acquires a new core banking system—the more powerful Infosys Finacle Solution. The Bank also acquires Pampanga-based Rural Bank Unity Bank to be merged with its thrift bank subsidiary China Bank Savings (CBS) in 2013.

2011
China Bank is awarded Best Wealth Management House in the Philippines by The Asset Magazine and receives for the second time the Gold Award in Corporate Governance from the Institute of Corporate Directors (ICD).
Hans T. Sy becomes chairman of China Bank.

2010
China Bank celebrates ninety years of banking and gets included in the 30-stock PSE index (PSEi) starting May 12. The Bank also wins the Silver Award on Corporate Governance from the Institute of Corporate Directors (ICD), and is 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."

2009
Stern Stewart & Co., a leading worldwide management consulting firm based in New York, cites China Bank as one of the top 100 listed companies throughout Southeast Asia in terms of delivering shareholder value for the period 2002-2008. China Bank is one of only 11 Philippine companies and one of two Philippine banks to be included in the ASEAN 100 Relative Wealth Added Index.
China Bank Cebu Business Center opens, the Bank's 14th branch in Cebu and its main business hub in the region.

2008
China Bank offers its maiden issue of fixed rate long-term negotiable certificates of deposit (LTNCDs). From an initial amount of P3 billion, the floatation was upsized to the BSP-approved amount of P5 billion due to overwhelming response. On September 8, 2008, China Bank's savings bank subsidiary formally opens its doors to the public as China Bank Savings, Inc. (China Bank Savings).

2007
China Bank embarks on new ventures: signs a Bancassurance joint venture agreement with Manulife and acquires Manila Bank. The bank also launches a raffle promo dubbed “P8.7 million at 87.”

2006
China Bank completes its first international US$53 M secondary share offering. The Bank starts a rapid branch expansion.
China Bank wins “Best Website – Banking and Finance” at The Philippine Webby Awards

2005
The Bank launches China Bank On-time Remittance and China Bank Online. To celebrate its 85th anniversary, it gives away a total of P8.5 million in prizes for its "Grateful at 85" deposit and loan raffle promo.
China Bank becomes an Annual National Consumer Awardee for Outstanding Commercial Bank, given by Parangal ng Bayan. The Bank also receives a National Consumer Quality Award and Global Excellence Award for the same distinction.

2004
China Bank launches its Cash Management Services for businesses and corporate clients; Henry Sy Sr. becomes honorary chairman.

2002
China Bank hit the P100 billion mark in total resources.

2000
To celebrate the Bank's 80th anniversary, China Bank donates P1 million to Tabang Mindanaw to help the victims of armed conflict in Mindanao.

1999
China Bank automates its treasury operations with the Flexcube System. Its subsidiary China Bank Insurance Brokers, Inc. starts operations.

1996
China Bank accesses offshore capital markets for the first time by issuing US$50 M Floating Rate Certificate of Deposit (FRCD). The Bank also launches China Check Plus, an interest-earning current account.

1995
China Bank celebrates its diamond anniversary and raises its authorized capital to P2.54 billion.

1994
China Bank launches two consumer loan products: China Bank HomePlus and China Bank AutoPlus.

1991
China Bank acquires its universal bank license.

1990
China Bank joins seven other banks to create BancNet, the country's largest ATM network. To strengthen its position among the major players in the banking industry, the Bank transfers its corporate headquarters to its present location along Paseo de Roxas in Makati City.

1988
China Bank upgrades its on-line system and launches TellerCard, its ATM banking service. The same year, it launches TellerPhone, the first telephone banking in the Philippines.

1980
On December 24, 1980, Bank chairman Dee K. Chiong passes away due to a heart attack. The next generation of leadership, Gilbert and Peter Dee, begin to take over the reins.

1978
On May 2, 1978, Albino SyCip, ninety-one, passes away due to pneumonia. His successor as chairman, George Dee Se Kiat, passes away the following year.

1975
The Bank increases its Filipino ownership up to the 70% level required by Central Bank regulations. This paves the way for the Bank’s major branch expansion program.

1970
China Bank is still the biggest local private commercial bank, with P565.997 M in resources. It has 4.1% of the assets in the commercial banking system.

1969
China Bank becomes the first bank in Southeast Asia to process deposits on-line, using the IBM 360.

1965
China Bank has P287.446 M in resources and P207.933 M in deposits. It has a profit of P7.144 M on gross income of P24.663 M.

1960
China Bank is still the biggest local private commercial bank. It has 7.2% of all the assets in the commercial banking system, with P174.417 M in resources.

1955
China Bank breaches the P100 M mark for the first time, with P109.597 M in resources and P70.292 M in deposits. It is the biggest local private commercial bank.

1954
Dong Pao Loh becomes manager of the Bank’s Cebu branch. DP Loh becomes an institution in Cebu business, becoming friend and banker to many local tycoons.

1952
Albino, who is now sixty-four, gives up the China Bank presidency to George Dee Se Kiat, but remains chairman and general manager. Dee K. Chiong becomes senior vice-president.

1948
China Bank has lent heavily to build the local economy, extending P182.84 M to various reconstruction efforts and economically strategic sectors. China Bank opens its first Cebu Branch.

1945
On July 23, 1945, Albino SyCip and around forty of the Bank’s old employees reopen China Bank. Albino is president and general manager; George Dee Se Kiat is vice-president.

1942
In April, 1942, the Japanese military shuts down China Bank and liquidates its assets. Albino SyCip and George Dee Se Kiat are arrested and spent months in jail.

1941
On December 8, 1941, the Pacific War begins with the bombing of Pearl Harbor. On December 21, the Philippines is invaded.

1935
China Bank has P21.537 M in resources and is by now one of the country’s biggest banks. It provides key financing for many of the country’s biggest businesses.

1931
The Great Depression hits the Philippine banking sector; hit by runs, a rival bank goes under, but China Bank weathers the crisis unshaken.

1929
The Bank opens a branch in Shanghai.

1927
China Bank is listed on the local stock exchange.

1925
From the beginning, it maintains an international perspective. China Bank opens its Xiamen branch.

1924
Albino SyCip joins China Bank on a full-time basis and will be its chairman for decades; over the next 53 years, he will define and exemplify its distinctive values.

1920
Dee C. Chuan leads a group of top Chinese-Filipino businessmen to establish China Bank, the first privately-owned commercial bank in the Philippines. The Bank opens for business on August 16, 1920 at No. 90 Rosario St., Binondo, Manila.

© 2006 China Banking Corporation. All rights reserved