About bank
China Banking Corporation (CHIB) was founded on July 20, 1920, and commenced operations on August 16, the same year as the Philippines' first privately-owned local commercial bank. By 1927, CHIB had been listed on the local stock exchange and obtained its universal banking license in 1991. CHIB was founded primarily for the Chinese-Filipino commercial sector but has since extended its offering to the retail and consumer segments.
Its core businesses include corporate and SME lending, consumer loans, including mortgages and auto loans, treasury and foreign exchange trading, trust, and asset management, investment banking and advisory services, wealth management, cash management, and insurance products through China Bank Insurance Brokers, Inc. and Manulife China Bank Life Assurance Corporation, Internet banking and mobile banking services, and remit.
Features
China Bank is one of the Philippines' leading private universal banks. Through their subsidiaries, they offer a wide range of banking products and services to institutions (corporate, middle market/commercial, SMEs) and individual customers (retail, mass affluent, high net worth).
China Bank understands how entrepreneurs and business people do business well. Although they continue to develop deep multigenerational relationships with the Chinese-Filipino community, they have since broadened the scope of their products and services to cover all market segments as they look for ways to create better value in the future.
China Bank is a member of the SM Group, one of the Philippines' largest conglomerates, and is listed on the Philippine Stock Exchange (PSE).
Pros and Cons
China Bank offers a variety of services and products, but just like any other financial institution, it has its merits and disadvantages, which are explained below.
Pros
- You can deposit your valuables safely with China Bank without being concerned about theft.
- They provide access to several loans with flexible requirements.
- They play the role of lenders by providing a sizable quantity of capital to various economic sectors, such as small enterprises, increasing employment rates and purchasing power.
Cons
- Through online banking, you can do various banking transactions with the touch of a button, which makes it far more straightforward for someone else to access your information.
- There is a wide range of fees.
Products
China Bank offers a good range of products and services, including but not limited to:
Deposits
- Peso accounts. Simple Peso deposit accounts for your everyday banking demands.
- Foreign currency accounts. You may manage and increase your US dollar, euro, yuan, and yen assets with the help of these China Bank accounts, whether for savings, business/trade, or remittances.
Credit cards
Credit cards offered by the bank include the World, Cash Reward, Platinum, Freedom, and Prime Mastercards.
Properties for sale
- Metro Manila real estate. You can search through a list of real estate properties throughout Metro Manila.
- Provincial real estate. You can search through a list of real estate properties throughout the Philippines.
- Vehicle. You can search for a pre-owned car that suits your taste and bid for it from the website.
Loans
- HomePlus loans. Building or purchasing your very own house is made more straightforward and more inexpensive with China Bank HomePlus.
- AutoPlus loans. This is a good car loan service offered by the bank.
- SalaryPlus loans. A personal emergency loan for employed and self-employed Filipinos.
- Commercial lending. A loan for small business owners could be long-term or short-term.
Business banking
This product includes cash management services and international banking.
Trust products and services
This includes the following:
- Unit investment trust funds (UITFs).
- Wealth management.
- Corporate trust.
- Escrow services.
Remittance
The remittance services offered by China Bank include:
- Money transfer.
- Overseas kababayan services.
- Remittance status inquiry.
E-banking
The online banking services offered by China Bank include:
- China Bank online.
- China Bank teller cards.
- China Bank Tellerphone.
Other services
Other services include:
- Branch-based services:
- Government payments.
- Gift check.
- Safety deposit boxes.
- SSS pension credit.
- Night depository.
- Insurance.
- Life insurance.
- Non-Life Insurance.
- Stock brokerage.