From left: Chinabank Advisor the Board Ricardo Chua, Chinabank President William Whang, BSP Governor Benjamin Diokno, Chinabank CFO Patrick Cheng, NHCP Chairman Rene Escalante, and National Museum Deputy Dir. Gen Ma. Rosenne Flores-Avila at the ribbon-cutting ceremony.
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno joined National Historical Commission of the Philippines (NHCP) Chairman Rene Escalante and National Museum Deputy Director General Atty. Ma. Rosenne Flores-Avila at China Banking Corporation’s (Chinabank) Binondo Business Center on December 21, 2021 for the unveiling of the historical marker from the NHCP and the Important Cultural Property marker from the National Museum.
The markers signify the NHCP’s recognition of Chinabank’s 100-year history and of its original head office, built in 1924, as a heritage site, and the National Museum’s confirmation of the building’s cultural significance to the country.
NHCP Chairman Escalante acknowledged the importance of Chinese Filipinos in the nation’s history and Chinabank’s contributions to the development of this vital sector.
“Ngayong araw na ito, nandito tayo upang bigyang pagkilala ang China Banking Corporation, di lamang ang kanilang gusali kundi pati ang kasaysayan ng bangko. Ating inaalala ang mga tao sa likod ng pagkakatatag ng Chinabank kung saan inilunsad nila ang bangko para sa pangangailangan ng patuloy na lumalaking komunidad ng Tsino Pilipino,” he said.
National Museum Deputy Director General Flores-Avila, who represented Director General Jeremy Barns at the event, noted the agency’s unwavering commitment to protect the country’s heritage and built structures like the Chinabank Binondo Business Center.
“This building is not just a symbol of the Bank’s strength and prominence in the last 100 years. It is also a reflection of us as a community exuding beauty and striving for security in the midst of the changing fortunes of time,” said Atty. Flores-Avila.
“We are very proud of this restoration project and what it represents: the melding of the old and the new, the preservation of Binondo’s bygone character, and the enduring spirit of Chinabank and the generations of Chinabankers and customers,” said Chinabank President William Whang.
From left: Chinabank CFO Patrick Cheng, Chinabank President William Whang, NHCP OIC Executive Director Carminda Arevalo, BSP Governor Benjamin Diokno, National Museum Deputy Director General Ma. Rosenne Flores-Avila, National Museum Deputy Director-General for Museum Anne Rosette Crelencia, NHCP Chairman Rene Escalante, and Chinabank Advisor to the Board Ricardo Chua.
At the same event, the BSP Governor also led the ceremonial ribbon cutting to inaugurate the genuinely-restored Chinabank Binondo Business Center.
“For a century now, Chinabank has played a vital role in the country’s economic development by lending to key sectors and supporting the growth of Chinese Filipino communities,” said BSP Gov. Diokno.
He also commended the Bank’s sustainability efforts, including its green bonds. “At the Bangko Sentral, we are committed to providing an enabling regulatory environment to drive the adoption of sustainable finance…. let me assure you that you have the full support of the BSP in your sustainability journey.”
Chinabank President William Whang and Centennial Committee Chairman Alexander Escucha led the book launch for 100 Years of Trust: The Chinabank Story, with author Nancy Pe Rodrigo. The 400-page hardbound book chronicles how the Bank has grown and lived up to its mission as a catalyst of wealth and value creation through the good times, and especially during difficult times, and how it continues to fulfill its responsibilities to society and country.
The event concluded with a tour of the Chinabank Museum located at the 4th floor of the Chinabank Binondo Business Center. The museum features artifacts, memorabilia, documents, photos, and paintings artfully displayed to represent the Bank’s core values.
The Chinabank Binondo Heritage Restoration Project is the centerpiece of the Bank’s centennial celebration in 2020. The restoration and construction began in 2019 with almost a year of forensic works, which entailed restoring the building to its original architectural design; retrofitting it with modern systems and technology for resilience, security, and energy efficiency; contemporizing the branch area and reverting it back to its original high ceiling design; and constructing a museum to preserve the Bank’s heritage and foster an understanding of and appreciation for its role as a catalyst of wealth and value creation. This genuine restoration project is Chinabank’s humble contribution to the revitalization of the City of Manila, and of Binondo, the oldest Chinatown in the world.