Chinabank, Manulife Renew 15-Year Partnership

On March 5, 2025, the Board of Directors of China Banking Corporation (Chinabank) ratified the agreement to renew their joint-venture partnership with Manulife Philippines under Manulife China Bank Life Assurance Corp. (MCBL). This new agreement is subject to approval by the Insurance Commission.

MCBL offers financial protection and wealth management products and services through more than 600 Chinabank and Chinabank Savings branches nationwide. Chinabank maintains a 40% stake in the joint venture. Under the newly ratified agreement, the partnership which started in 2007 will be renewed for another 15 years, thus solidifying the two organizations’ shared commitment to providing holistic life, health, and wealth solutions for the long-term financial security of Filipino families.

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2023, we had more than 38,000 employees, over 98,000 agents, and thousands of distribution partners, serving over 35 million customers. We trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges, and under ‘945’ in Hong Kong.

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 650 branches and 1,081 ATMs, including the 170 branches and 221 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.