- Current Price:
- Previous Closing Price:
- Opening Price:
- Day's Range:
- 34.80 - 35.50
- Traded Volume:
- Traded Value:
- Number of Trades:
- Last Update Date:
- 2018-02-24 10:10:32
China Banking Corporation (CHIB) was incorporated on July 20, 1920 and commenced business on August 16 of the same year as the first privately-owned local commercial bank in the Philippines. CHIB acquired its universal banking license in 1991. CHIB started by mainly catering to the Chinese-Filipino commercial sector, but has since expanded its market scope to include the retail and consumer segments.
CHIB's main businesses include corporate and SME lending, retail loans including mortgage and auto loans, treasury and foreign exchange trading, trust and investment management, wealth management, cash management, insurance products through wholly-owned subsidiary China Bank Insurance Brokers, Inc. (CBIB) and affiliate Manulife China Bank Life Assurance Corporation (Manulife China Bank), internet banking and mobile banking services and remittances through tie-ups with remittance companies and exchange houses in the Middle East, Asia and major US cities. The Company also offers foreign currency deposits of US Dollar, Euro and Yuan to cater to clients' trade, investment and remittance requirements in this currency.
The Company's subsidiaries include CBIB; CBC Properties and Computer Center, Inc.; China Bank Capital Corporation (CBCC); China Bank Savings, Inc.; CBC Forex Corporation (awaiting clearance to effect dissolution); Manulife China Bank; and Planters Development Bank. In 2016, the Company, through CBCC, acquired ATC Securities, Inc. to set up its own brokerage firm, China Bank Securities Corporation. CBCC likewise incorporated a securitization company, CBC Assets One (SPC), Inc.
As of December 31, 2015, CHIB's products and services are made available across multiple distribution and delivery channels, particularly through its 517 branches and 740 ATMs nationwide.
Source: SEC Form 17-A (2015)/Circular Nos. 3510-2016/3861-2016