Category: China Bank

China Bank MasterCard launches 2 Million Mabuhay Miles and Priceless New York Holiday Raffle Promo

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China Bank is entering the credit card scene in a big way with the launch of the “2 Million Mabuhay Miles and Priceless New York Holiday Package” raffle promo at the SM Aura Premier in Taguig City.

China Bank Credit Cardholders in good credit standing have a chance to win in this exciting promo. There will be twenty winners of 30,000 Mabuhay Miles each, five winners of 80,000 Mabuhay Miles each, and one winner of the grand prize—1,000,000 Mabuhay Miles PLUS a Priceless 4-day/3-night holiday in New York City, USA for two. This lifestyle package is inclusive of business class round-trip airfare via Philippine Airlines, hotel accommodation, transfers, and tours, among others. The grand winner and his/her companion will also get to see the Holiday Lights and Sound show. China Bank will take care of the prize tax and travel tax.

“This is a very generous mileage promo. With 30,000 Mabuhay Miles, you can get one round-trip ticket to Beijing, Osaka, or Seoul. With, 80,000, you can travel with your loved one to L.A. or London. With a million Mabuhay Miles, you can go anywhere with your whole family,” said China Bank EVP & Lending Segment Head William C. Whang.

Domestic travel requires a minimum of 10,000 Mabuhay Miles for PAL Express and PAL, while international travel requires a minimum of 19,000 Mabuhay Miles for economy class and a minimum of 29,000 Mabuhay Miles for business class (round-trip).

The promo period is from September 19 to November 15, 2015. Each single-receipt local purchase worth at least P1,500 will earn the cardholder 1 raffle entry. Foreign currency transactions will earn 2 raffle entries for single-receipt purchases worth at least P1,500 when converted to Philippine Peso.

Only straight and installment transactions, convert-to-cash, auto charge bills payment, and balance transfer transactions are eligible to earn raffle entries, which will be electronically generated. To qualify for the raffle draw on November 20, 2015, cardholders must do a one-time registration at www.chinabank.ph/creditcards anytime during the promo period.

China Bank Group employees and their relatives are disqualified from the promo.

“This is the time when people are already starting with their Christmas shopping. We especially timed the launch of our credit cards with this generous Mabuhay Miles mileage promo and a Priceless experience in New York City to ensure that our cardholders can get the most out of their purchases this season. Aside from giving them the chance to travel for free, they are also enjoying special discounts with our partner merchants,” said Whang.

China Bank MasterCard also has on-going promotions in online shopping sites Lazada and Zalora until December 31, 2015, as well as other limited-time exclusive promos with top retailers.

China Bank raises US$158M via loan syndication

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China Banking Corporation (China Bank) has secured a US$158 million three-year term loan facility from regional and international banks.

The facility marks China Bank’s triumphant return to the international markets since its successful US$125 million floating rate certificates of deposit (FRCD) issue in 1996 and 1997. Proceeds will be used for general corporate purposes and to support the growth of China Bank’s dollar assets. The facility carries an interest margin of 1.40% per annum over 3 months Libor.

“We are pleased with the positive response of the international lenders to this transaction. It reflects the international FI’s confidence in China Bank’s solid fundamentals — strong capital levels, well diversified loan portfolio and quality assets, and strong balance sheet with sustainable growth,” said China Bank President & CEO Ricardo R. Chua during the signing of the facility agreement.

The syndication was launched on May 18, 2015 in Taiwan, attracting strong interest from financial institutions based in Asia and the Middle East, some of which are supporting China Bank for the first time.

Australia and New Zealand Banking Group Limited was the Mandated Lead Arranger and Book Runner. KDB Group (The Korea Development Bank – Seoul Head Office, KDB Asia Limited – Hong Kong) and Mizuho Bank, Ltd – Singapore Branch were the Mandated Lead Arrangers. Doha Bank Q.S.C. was the Lead Arranger. The Arrangers were Mega International Commercial Bank Co., Ltd., CTBC Bank Co., Ltd. Singapore, The Shanghai Commercial & Savings Bank, Ltd., Taiwan Cooperative Bank, and Taishin International Bank Co, Ltd.

Founded in 1920, China Bank is the country’s first privately owned local commercial bank and now the fifth largest domestic private universal bank in the country with over P477 billion in assets. It serves the banking needs of the corporate, commercial, and retail markets. With the acquisition of Planters Development Bank (Plantersbank) in 2014, and its eventual merger with China Bank Savings (CBS), China Bank is building a stronger platform for SME finance. The China Bank Group now has 483 branches to date (319 China Bank, 86 CBS, and 78 Plantersbank). This wide branch network is complemented by electronic banking channels—ATM, online, mobile, and phone banking—that provide secure and reliable 24/7 banking service.

China Bank raises US$158M via loan syndication

PRNEWS Admin Leave a comment

China Banking Corporation (China Bank) has secured a US$158 million three-year term loan facility from regional and international banks.

The facility marks China Bank’s triumphant return to the international markets since its successful US$125 million floating rate certificates of deposit (FRCD) issue in 1996 and 1997. Proceeds will be used for general corporate purposes and to support the growth of China Bank’s dollar assets. The facility carries an interest margin of 1.40% per annum over 3 months Libor.

“We are pleased with the positive response of the international lenders to this transaction. It reflects the international FI’s confidence in China Bank’s solid fundamentals — strong capital levels, well diversified loan portfolio and quality assets, and strong balance sheet with sustainable growth,” said China Bank President & CEO Ricardo R. Chua during the signing of the facility agreement.

The syndication was launched on May 18, 2015 in Taiwan, attracting strong interest from financial institutions based in Asia and the Middle East, some of which are supporting China Bank for the first time.

Australia and New Zealand Banking Group Limited was the Mandated Lead Arranger and Book Runner. KDB Group (The Korea Development Bank – Seoul Head Office, KDB Asia Limited – Hong Kong) and Mizuho Bank, Ltd – Singapore Branch were the Mandated Lead Arrangers. Doha Bank Q.S.C. was the Lead Arranger. The Arrangers were Mega International Commercial Bank Co., Ltd., CTBC Bank Co., Ltd. Singapore, The Shanghai Commercial & Savings Bank, Ltd., Taiwan Cooperative Bank, and Taishin International Bank Co, Ltd.

Founded in 1920, China Bank is the country’s first privately owned local commercial bank and now the fifth largest domestic private universal bank in the country with over P477 billion in assets. It serves the banking needs of the corporate, commercial, and retail markets. With the acquisition of Planters Development Bank (Plantersbank) in 2014, and its eventual merger with China Bank Savings (CBS), China Bank is building a stronger platform for SME finance. The China Bank Group now has 483 branches to date (319 China Bank, 86 CBS, and 78 Plantersbank). This wide branch network is complemented by electronic banking channels—ATM, online, mobile, and phone banking—that provide secure and reliable 24/7 banking service.

Twin wins for China Bank at the 5th Asian Excellence Awards

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China Bank and its SVP for Investor and Corporate Relations Alexander C. Escucha were recognized at the recent 5th Asian Excellence Awards in Hong Kong. China Bank was named Best Investor Relations Company (Philippines), while Escucha was named Best Investor Relations Professional (Philippines).

Organized by Corporate Governance Asia, the Asian Excellence Awards distinguish the public companies in the region that perform consistent excellence in corporate governance. The companies are evaluated on aspects such as investor relations, corporate social responsibility, financial performance, and business ethics.

China Bank was one of the 22 awardees for the Philippines in the Best Investor Relations Company category, along with SM conglomerate companies BDO, SM Investments Corporation (SMIC), and SM Prime Holdings.

Escucha was one of the seven Best Investor Relations Professional awardees for the Philippines, including SVP for Investor Relations Corazon C. Guidote of SMIC.

Investor Relations (IR) is a key component of corporate governance at China Bank. A financial discipline and a communication function, it is fundamental in its role of promoting transparency and investor confidence. According to Escucha, IR facilitates a better understanding, for the Bank’s investors and the financial community, of how China Bank conducts business and makes money ethically, and for Management, of investors’ expectations of China Bank.

“Through regular two-way communication and interaction with investors, analysts, regulators, the financial news media, and other stakeholder groups, IR is shaping the standards of governance at China Bank, enabling us to benchmark the Bank’s performance against our peers, get a clearer sense of the concerns and expectations of our diverse investors, and develop strategies to address these concerns and expectations and increase shareholder value,” said Escucha.

Late last year, Corporate Governance Asia, the most authoritative quarterly magazine on corporate governance in Asia, also named China Bank as Asia’s Outstanding Company on Corporate Governance (Philippines), and its corporate secretary, Atty. Corazon I. Morando, as Asian Company Secretary of the Year (Philippines).

Founded in 1920, China Bank is the country’s first privately-owned local commercial bank and now the fifth largest private universal bank with P471 billion in assets. It serves the banking needs of the corporate, commercial, and retail markets. The China Bank Group has 480 branches to date: 316 for China Bank, 86 for China Bank Savings, and 78 for Plantersbank. This vast branch network is complemented by electronic banking channels—ATM, online, mobile, and phone banking—that provide 24/7 service.

China Bank opens 2nd branch in La Union; CBS opens 7 branches

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China Banking Corporation (China Bank) and its thrift bank arm China Bank Savings (CBS) continue to branch out in Metro Manila and Luzon, opening eight of the planned 50 new branches in 2015.

China Bank La Union-Agoo Branch, its second branch in La Union and 315th branch nationwide, began operations today. Meanwhile, CBS opened seven branches in February in a fresh bid to increase its share of the consumer and SME markets. The new CBS branches are San Juan, Better Living, Laguna-Sta. Cruz, Cavite City, SM Hypermarket FTI-Taguig, Savemore Tagaytay-Mendez, and Savemore Malabon-Francis Market. CBS has 85 branches to date, 11 of which are Easi-Banking branches that are open daily and with longer banking hours.

The China Bank Group’s nationwide branch network is now 478-strong, including the 78 branches of Plantersbank.

China Bank La Union-Agoo Branch is located along the National Highway, San Jose Norte, Agoo, La Union, and headed by Rommel M. Agacita. It is open on weekdays, from 9:00 am to 4:00 pm., and equipped with an ATM and a night depository box to provide customers with 24/7 banking convenience.

CBS San Juan Branch, headed by Jeannette Mae E. Castillo, is at Madison Square, 264 N. Domingo St., Barangay Pasadena, San Juan; CBS Better Living Branch is at 90 Doña Soledad Avenue, Better Living Subd, Bicutan, Parañaque, headed by Dimples Dacio; CBS Laguna-Sta. Cruz Branch is at E & E Building, Pedro Guevarra Avenue, Sta. Cruz, Laguna, headed by Ma. Lesly G. Amparo; and CBS Cavite City Branch is at 485 P. Burgos St., Barangay 34, Caridad, Cavite City, headed by Alaine M. Catapang. These branches are open from Monday to Friday, from 9:00 am to 4:30 pm. and are also equipped with ATMs.

CBS branches conveniently located inside Savemore and SM Hypermarket are equipped with an ATM, a night depository box, and an Online Banking kiosk. SM Hypermarket FTI-Taguig Branch is in Western Bicutan, open from Monday to Saturday, from 11:00 am to 7:00 pm, with Mary Ann P. Tenedero as branch service head. Savemore Tagaytay-Mendez Branch is at the corner of Tagaytay-Nasugbu Highway and Mendez-Tagaytay Road, while Savemore Malabon-Francis Market Branch is at the corner of Governor Pascual and M.H. Del Pilar Sts. Jenilyn Y. Chua and Shelina H. De Jesus are the branch sales and service officers, respectively. Both Tagaytay-Mendez and Malabon-Francis Market branches in Savemore are open from Monday to Saturday, from 10:00 am to 6:00 pm.

Founded in 1920, China Bank is the country’s first privately owned local commercial bank and now the fifth largest private universal bank in terms of assets and number of branches. In a strategic move to sharpen its retail banking focus, China Bank acquired in 2007 the oldest savings bank in the country, Manila Bank, and re-launched it as China Bank Savings. Now, with the acquisition in January 2014 of Plantersbank, the country’s leading bank in SME finance, and its eventual merger with CBS, China Bank is building a stronger platform for SME finance. The branch network expansion is part of the strategy to serve a wider market and position China Bank and CBS for future growth.