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Home  »  Central Bank of the Philippines  »  ChinaBank Savings

ChinaBank Savings

  
 

ChinaBank Savings, Inc. (ChinaBank Savings), a subsidiary of China Banking Corporation. China Bank’s acquisition of Manila Bank in June 2007 brought to it the advantages of having a savings bank subsidiary (lower rediscounting facility rates and reserve requirements) and a lynchpin to achieving its aggressive expansion plan that calls for a doubling of its total branch network to 300 in its new three-year plan ending in 2010.

Manila Bank’s existing 26 branches (apart from the Main branch) have been successfully added to China Bank, bringing its network to 205 at the end of the 1st quarter of 2008. Following the completion of the acquisition, China Bank secured approval from both the Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) to rename Manila Bank into ChinaBank Savings to better reflect its ownership and pedigree as a subsidiary of China Bank.
 

  
 

The new name was unveiled on September 8, 2008 at the Main branch along Ayala Avenue, thereby bringing the Bank a cornerstone presence along the country’s main business corridor and boosting its competitive abilities in the exciting retail banking market.
 
  ChinaBank Savings
Category : Thrift Banks
SWIFT Code :

Address :
VGP Building
6772 Ayala Avenue
Makati City
1226 Philippines

Telephone : (63) 2 988-9555

Website :  savings.chinabank.ph

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China Bank’s intention for the ChinaBank Savings is to have a bank that can have stronger focus and serve more effectively the broad middle market segments – individuals, families, business enterprises and companies who might presently not be served by China Bank, either an account of a different product or service requirements.

 

ChinaBank Savings will focus on three product lines: Deposit, Consumer Loans and Trust Services with clearly a defined target market, leveraging on the strengths of its parent bank and synergies from some shared operations which the Savings bank will outsource to its parent bank.

 

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