China Banking Corporation (China Bank) was named the Best Bank in the Philippines by Hong Kong-based financial publication, The Asset. China Bank bested the other banks in the country, including the largest ones. Meanwhile, China Bank Capital was named the Best Bond Adviser (Domestic), winning the distinction for the sixth consecutive year. China Bank and China Bank Capital will be awarded at The Asset Triple A Country Awards 2021 in March.
China Bank was lauded as the Best Bank for its strong financial performance and proven expertise in corporate & institutional banking, advisory & transaction banking, as well as its environmental, social, and governance initiatives. The Bank and all the other awardees in Southeast Asia were recognized by The Asset for their zeal and versatility in seeking ways to adapt to challenging conditions and enhancing their services to end-users while recording fee income growth despite the market volatility caused by the global pandemic.
The Bank was the country’s best performing bank in 2020 in terms of profitability, posting full year net income growth of 20 percent, while most banks’ earnings dropped. In the first nine months of 2021, as the economy started to open up, China Bank rallied and recorded 35 percent increase in net profits. It is the only bank in the country to record higher quarterly net income year-on-year since the start of the global pandemic. In addition, the Bank had one of the best cost efficiency ratios among banks with assets of over P1 trillion.
