China Banking Corporation Announced P5.9 Billion in Record Cash Dividends, an Increase of 16%

China Banking Corporation (Chinabank) announced that its Board of Directors declared a P1.20 per share regular cash dividend and an additional P1.00 per share special cash dividend, which will be paid on May 16, 2024, to all stockholders on record as of May 3, 2024. The regular cash dividend increased by 20% from P1.00 per share the previous year.

A total of P5.9 billion in cash dividends, an all-time high and 16% increase over the previous year, make up 27% of Chinabank's projected P22.0 billion in net income for 2023.

The dividend declaration is a testament to Chinabank's dedication to continuously delivering strong returns to shareholders while making investments in the expansion of its operations. The bank distributed P5.1 billion in cash dividends to shareholders in the previous year, with P1.00 per share going toward regular dividends and P0.90 going toward special dividends.​

Chinabank is one of the best-governed publicly traded companies and best employers in the country, having received the Institute of Corporate Directors' Five-Golden Arrow award for the second time in 2023 and the People Management Association of the Philippines' 2023 Employer of the Year. The bank has also received international recognition as one of the most innovative and best in the private banking sector, including the Infosys Finacle Gold Award for Product Innovation, Backbase's Big Shift Champion of the Year award, and Private Banker International's Outstanding Wealth Management Service for the Affluent.

Moodys’ Investors’ Service, in its April 16, 2024 press release, affirmed Chinabank’s Baa2 deposit and issuer ratings—a notch above investment grade— with stable outlook, in view of the bank’s “strong capitalization and profitability, as well as its modest deposit franchise, offset by its strong level of liquidity.”

​Chinabank opened for business on August 16, 1920 in Binondo, Manila, and is now one of the largest private universal banks in the Philippines. It provides a full range of banking products and services to corporate, commercial, and retail customers through 648 branches and 1,070 ATMs to date, including the 168 branches and 202 ATMs of its savings bank arm CBS. Chinabank also offers a wide range of allied financial services through its subsidiaries Chinabank Capital, Chinabank Securities, Chinabank Insurance Brokers, and affiliate MCBLife.

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