Chinabank Targets P100 Billion Via Retail Bonds and Commercial Papers

The Board of Directors of China Banking Corporation (Chinabank) approved to conduct a fundraising exercise of up to P100.0 Billion in several tranches for the next three (3) years, which may be in the form of Retail Bonds and/or Commercial Papers, or a combination thereof.

The proceeds shall be used to support the Bank's strategic initiatives and expansion programs.

Chinabank (CBC) booked record earnings from January to September 2024 on the back of sustained strong growth from core businesses.

​Net income reached P18.4 billion in the first nine months, up 13% year-on-year, translating to a return on equity of 15.7% and return on assets of 1.6%—still among the highest in the industry.

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 1,082 ATMs, including the 168 branches and 213 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.