China Banking Corporation
Fortifying SM’s position in the banking field is its key investment in China Banking Corporation (China Bank, PSE: CHIB), one of the leading private universal banks in the Philippines in terms of assets, capital base and market value.
China Bank is the first privately-owned local commercial bank in the Philippines, which catered initially to the needs of Chinese-Filipino businessmen. It played a key role in post-World War II reconstruction and economic recovery through its support to businesses and entrepreneurs in critical industries. It was established in 1920, was listed on the Philippine Stock Exchange in 1947, became the first bank in Southeast Asia to process deposit accounts on-line in 1969, the first Philippine bank to offer phone banking in 1988 and acquired its universal banking license in 1991.
China Bank offers a full range of banking products and services to institutional (corporate, middle market/commercial, SMEs) and individual (retail, mass affluent, high net worth) customers, as well as thrift banking, investment banking, insurance brokerage, and bancassurance through our subsidiaries China Bank Savings, China Bank Capital, China Bank Securities, Chinabank Insurance Brokers, and Manulife China Bank Life Assurance.
China Bank provides a wide range of banking services through its 642 branches and over 1,000 ATMs nationwide (including thrift bank subsidiary, China Bank Savings). The Bank serves the corporate, commercial, middle and retail markets with a wide range of domestic and international banking services.
From a strong foundation, China Bank has since been involved with strategic alliances to expand and strengthen its successful operations. Driven to be a catalyst of wealth creation, China Bank has been growing and improving to serve customers better, providing significant contribution to the country’s financial landscape and enduring legacy of successful partnerships with its clients.