Background Information on China Bank in case you want to purchase one of their Acquired Assets
China Banking Corporation (or China Bank) is the first privately-owned local commercial bank in the Philippines. It was incorporated on July 20, 1920 and started its operations on August 16, 1920. China Bank went public on December 1, 1965. It was the first bank in Southeast Asia to process deposit accounts on-line in 1969. It was also the first Philippine bank to offer telephone banking in 1988. In August 26, 1991, the Bank was issued a license to engage in universal banking.
Its financial products and services include deposits and related services, international banking services, insurance products, loans and credit facilities, trust and investment services, cash management services, and other services such as acceptance of various bill payments and donations to charitable institutions.
It derives its revenue from interest income (deposit taking and lending/investment activities) and other income including service charges, fees & commissions, trading and foreign exchange gain, trust fees, income from acquired assets, and other miscellaneous income.
For the first quarter of 2010, China Bank posted P1.05 billion in consolidated net income or 19% higher than the income recorded for the same period in 2009. This income performance translates to a healthy 14.23% return on equity and a 1.79% return on assets — still among the highest in the industry.
The Bank offers a wide range of financial products and services through more than 245 branches and close to 410 ATMs. Complementing this vast branch and ATM network are convenient and secure electronic banking channels —China Bank Online (mobile and internet banking) and China Bank TellerPhone (phone banking).
On August 16, 2010, China Bank celebrates its 90th year.
Contact Info:
For inquiries, please call the China Bank Acquired Assets Division at
885-5725 / 885-5739 / 885-5318 / 885-5723 / 885-5706
or fax 840-1991, or email aad-marketing@chinabank.ph