a filipino trend follower's blog: in the news: CHIB/CHINA BANKING CORPORATION

***bookmark me at: immovable as a mountain (a filipino trend follower's blog)

31 JUL 2020
China Bank posts higher profit
https://www.bworldonline.com/china-bank-posts-higher-profit/

19 JUN 2020
China Bank declares P2.68 billion cash dividends; total assets expanded 10% despite ECQ
https://businessmirror.com.ph/2020/06/18/china-bank-declares-%e2%82%a72-68b-cash-dividends-total-assets-expanded-10-despite-ecq/

11 MAY 2020
China Bank net profit rises
https://www.bworldonline.com/china-bank-net-profit-rises/

29 FEB 2020
China Bank 2019 net profit up 24% at record P10.1 billion
https://www.bworldonline.com/china-bank-2019-net-profit-up-24-at-record-p10-1-billion/

03 MAY 2019
Sy family-led China Bank nets P1.9B in Q1 2019
Read more: https://business.inquirer.net/269727/sy-family-led-china-bank-nets-p1-9b-in-q1-2019#ixzz5mqig1IYc
Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook

03 AUG 2018
China Bank profit hits P3.6B
http://business.inquirer.net/254993/china-bank-profit-hits-p3-6b

16 JUL 2018
China Bank to open 8-10 more branches
http://bworldonline.com/china-bank-to-open-8-10-more-branches/

13 JUL 2018
Chinabank raises P10.25B in huge term deposit offer
Read more: http://business.inquirer.net/253911/chinabank-raises-p10-25b-huge-term-deposit-offer#ixzz5L6CEcg00
Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook

10 JUN2018
China Bank thrift arm gets P500 million additional capital
Read more at https://www.philstar.com/business/2018/06/09/1822808/china-bank-thrift-arm-gets-p500-million-additional-capital#Epq77ie50XSYT0q0.99

04 MAY 2018

The ties that bind

Among the core businesses of the country’s largest conglomerate, SM group, China Bank is the one that hardly sees trading of shares. China Bank, which has been operating for nearly a century, is a storied bank that has helped many of today’s tycoons build their dreams, including SM group founder Henry Sy Sr. himself.

In the foreseeable future, however, China Bank—run by the Sy boys —may do something to address lack of trading liquidity.

“We have very loyal stockholders. They refuse to sell their shares, that’s why our liquidity is less than $100,000 a day. Having said that, in 2014, we amended our articles of incorporation to remove the preemptive rights of our stockholders in the future date when new shares will be issued to new shareholders so that it opens up that possibility,” said China Bank’s head of investor relations Alex Escucha.

Incidentally, Escucha noted that SM Investments Corp.’s new president, Frederic Dy Buncio, had historical links to China Bank, the latter’s grandfather, Gullermo Dybuncio, having been among the visionaries who joined magnate Dee Chuan in establishing the bank in 1920 to serve migrant Chinese entrepreneurs, who at that time could not easily borrow from the few existing banks that thought it was risky to lend to this segment. The SMIC president’s father, Eduardo Dybuncio, had also served as an officer at China Bank. —DORIS DUMLAO-ABADILLA