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July 19, 2024

Rebranding for growth: Sy family’s Chinabank unveils new look on the PSE

Chinabank chairman Hans T. Sy led the bell-ringing ceremony at the Philippine Stock Exchange (PSE) on Wednesday to mark the start of trading under the bank’s new stock symbol, “CBC.”

“Chinabank has always regarded its long and rich history with reverence and pride,” PSE chairman Jose T. Pardo said, highlighting the bank’s resilience through various challenges over the past century.

This shift aligns with the bank’s desire to project a modern image and enhance brand recognition in a constantly evolving financial landscape.

“The bank recognizes that it operates in a totally different economic and financial landscape that warrants a change,” Pardo said

CBC president Romeo Uyan Jr. echoed this sentiment, emphasizing that the new symbol reflects Chnabank’s evolving identity and adaptability. “This change represents our commitment to adapt to the changing dynamics of the financial industry and to better communicate our brand strength to investors and customers,” he said.

Listed on the PSE since September 1927, Chinabank has grown to become one of the top four private universal banks in the Philippines. The bank has been a member of the PSE MidCap Index since February 2023 and a constituent of the PSE Dividend Yield Index since February this year.

2024 has seen Chinabank’s stock price reach a 10-year high, pushing its market capitalization beyond P100 billion.