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.
