China Banking Corp. led by William Whang is the only Philippine bank that made it to the Financial Times’ 2022 ranking of the top 500 high growth companies in Asia Pacific.
The Sy-led bank is the only bank among the 15 Philippine companies in the Asia-Pacific High-Growth Companies 2022 compiled by British newspaper Financial Times in partnership with research provider Statista.
China Bank owned by the family of the late retail and banking magnate Henry Sy ranked in 495th place with an absolute growth rate of 70 percent and compound annual growth rate of 19.5 percent.
The list shows China Bank’s revenues reaching $510.44 million in 2017 and $883.72 million in 2020. Financial Times converted the revenues into US dollars for better comparability in ranking, using the exchange rates of December 31, 2017 and 2020, respectively.
The Asia Pacific High-Growth Companies 2022 is a list of the 500 companies in the region that achieved the highest percentage growth in revenue between 2017 and 2020. One criterion is that the revenue growth must be primarily organic (i.e. ―internally generated).
London-based Financial Times, printed in broadsheet and published digitally, focuses on economics, business issues, and current events. The special report on the Asia-Pacific High Growth Companies 2022 was published on April 7.
China Bank was recently named the Best Bank in the Philippines in 2021, and its investment house subsidiary China Bank Capital, the Best Bond Adviser (Domestic) for the sixth consecutive year, by regional financial magazine The Asset.
Both also won the top awards at the Philippine Dealing System Annual Awards: the Cesar E.A. Virata Best Securities House (Bank category) for China Bank and the Top Corporate Issue Manager/Arranger (Investment House Category) for China Bank Capital.
China Bank opened for business on August 16, 1920 and now has 637 branches and 1,039 ATMs to date. This includes the 160 branches and 167 ATMs of China Bank Savings.
