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July 13, 2024

China bank named Domestic Retail Bank of the Year at ABF 2024

China Banking Corporation, controlled by the Sy family, was named the Domestic Retail Bank of the Year – Philippines at the Asian Banking and Finance (ABF) Retail Banking Awards 2024 held in Singapore.

Its investment banking unit, Chinabank Capital, won the Debt Deal of the Year – Philippines and IPO (initial public offering) Deal of the Year – Philippines.

Chinabank’s accolades highlight its robust financial results, including a 15% rise in net income to P22 billion in 2023, underpinned by strong core business growth.

As the fourth-largest private universal bank in the country, Chinabank has consistently delivered outstanding profitability metrics, with a return on equity exceeding 15% for two consecutive years.

Beyond financial achievements, Chinabank has undertaken a digital transformation, focusing on a customer-centric, technology-driven retail strategy to provide seamless experiences both in-branch and online.

“Throughout its transformation, China Banking Corporation has remained steadfast in fulfilling its commitments to stakeholders,” noted ABF in its citation.