Chinabank has achieved a significant global milestone by securing a place on TIME’s prestigious World’s Best Companies of 2024 list.
Ranked among the top 1,000 firms worldwide, Chinabank is being recognized for excelling in three key areas: employee satisfaction, revenue growth, and ESG (environmental, social, and corporate governance) performance.
In a world where businesses often prioritize profits over people, Chinabank’s inclusion on this list suggests a different approach, where employees and sustainability are central to its operations.
The bank ranked 849th on a list led by global giants like Apple, Accenture, and Microsoft. TIME and Statista, a leading provider of market and consumer data, collaborated on this extensive study, which involved analyzing 1,000 companies worldwide across these crucial metrics.
This achievement, according to the bank’s press release, was made even more remarkable as Chinabank is one of only 13 companies in the Philippines to make the list, alongside fellow SM Group affiliates SM Investments (ranked 502nd) and SM Prime (ranked 577th). These rankings spotlight Philippine companies that are not only expanding in revenue but also prioritizing the welfare of their employees and society at large.
Chinabank sets new standard for business success
At a time when corporate success is often measured purely in terms of profitability, TIME’s focus on employee satisfaction and ESG practices shifts the narrative toward a more holistic view of what it means to be a successful company. The inclusion of Chinabank in this global list highlights the importance of balancing financial growth with responsible business practices and employee well-being.
TIME and Statista’s methodology included employee satisfaction surveys from 170,000 participants across 50 countries, providing insights into how employees feel about their work environments. The ranking also considered revenue growth from 2021 to 2023, a period marked by global economic recovery and challenges, as well as companies’ ESG performance. The result is a list of companies that are not just profitable but are also driving change by putting people and the planet at the forefront.
“It is truly a great honor to be one of the Philippine companies included in this prestigious list,” Chinabank President and CEO Romy Uyan stated. “Credit for this accomplishment belongs primarily to our employees, who have always been our most valuable partners in our ongoing journey of growth and sustainability.”
The power of employee-centered growth
Chinabank’s success underscores the critical role employees play in a company’s journey. The bank, already recognized as one of the Philippines’ leading financial institutions, has made employee well-being a priority, earning it the title “Employer of the Year” in 2023 by the People Management Association of the Philippines. It also earned multiple accolades at the “Asian Banking & Finance Awards 2024,” winning the distinguished title of “Domestic Retail Bank of the Year-Philippines” and securing 2 other honours — Debt Deal of the Year-Philippines and IPO Deal of the Year-Philippines, in collaboration with Chinabank Capital.
This recognition is not an isolated achievement but part of Chinabank’s broader commitment to fostering a work environment where employees feel valued and empowered.
This employee-first philosophy contributes to its financial performance as well. Happy and motivated employees are more productive, leading to sustained growth and innovation.
By prioritizing employee satisfaction, Chinabank not only attracts top talent but also retains them, creating a culture of loyalty and performance that drives its bottom line.
Commitment to governance and sustainability
Beyond employee satisfaction and revenue growth, Chinabank’s inclusion in the ranking highlights its commitment to sustainability and good governance.
In an era where companies are increasingly held accountable for their environmental and social impact, Chinabank has positioned itself as a leader in corporate responsibility.
The bank is a two-time recipient of the prestigious Five-Golden Arrow award, the top accolade for corporate governance from the Institute of Corporate Directors (ICD). This recognition reinforces Chinabank’s commitment to transparency, ethical business practices, and sustainability.
By excelling in ESG metrics, Chinabank is not only contributing to a better society but also future-proofing its business. As global investors and consumers alike increasingly prioritize companies with strong governance and sustainability records, Chinabank’s performance in these areas is positioning it for long-term success in a competitive global market.
Redefining corporate success
Inclusion in TIME’s World’s Best Companies of 2024 is not just a badge of honor for Chinabank—it is a call to action for businesses everywhere.
As the bank continues to grow, it demonstrates that profitability and purpose can go hand in hand. By focusing on employee satisfaction, responsible governance, and sustainability, Chinabank is helping redefine what it means to be a successful company in the 21st century.
The question for other companies, especially those in the financial industry, is clear: Are you ready to follow suit and put employees, society, and the environment at the core of your business strategy?
Chinabank’s global recognition suggests that doing so might just be the key to enduring success.