Chinabank (CBC) has recently unveiled its heartwarming “Focused on Christmas” video on YouTube and other social media platforms in celebration of the holiday season.
The video, showcased at the bank’s 2024 Christmas Party, embodies the true spirit of the season – a time for reflection, togetherness, and gratitude.
“Focused on Christmas reminds us of the essence of this wonderful holiday,” remarked CBC Chairman Hans T. Sy during the party. “It’s a time to cherish loved ones and appreciate the blessings in our lives.”
Echoing these sentiments, CBC President and Chief Executive Officer Romeo D. Uyan Jr. shared, “This video is our heartfelt greeting to our customers, partners, and their families. It celebrates the Filipino spirit of sincerity, hospitality, and the importance of family.”
The video, starring Chinabank employees, beautifully captures the essence of the holiday season. It showcases heartwarming scenes of families connecting, celebrating, and appreciating the simple joys of life. From a couple whose prayers have been answered to a family reunited after a long separation, the video resonates with viewers on a deeply emotional level.
Click here to watch Chinabank’s holiday video.
The voiceover eloquently captures the true meaning of Christmas: “It is not the glowing of lights but the brightness of smiles. It is not the chill in the air but the warmth of togetherness. It is not in the giving of gifts but in thoughtfulness unwrapped.”
The video culminates with a heartwarming scene of a family gathered around a table, symbolizing the importance of familial bonds and the joy of being together.
“The holidays mean so much more than the trappings of the rush and the partaking of feasts,” the voiceover emphasizes. “For us at Chinabank, we are focused on making the season more meaningful for you.”
This year marks a significant milestone for Chinabank as it embarked on a brand refresh program. With a modernized logo and image, the bank aims to connect with a new generation of customers while staying true to its core values and heritage.
From producing heartwarming videos to its ongoing digital transformation initiatives, Chinabank consistently strives to deliver superior customer experiences, living up to its brand promise of being “Focused on You.”
Chinabank records highest-ever net income in 2024
Earlier this year, CBC reported its highest-ever net income for the first nine months of 2024, achieving a remarkable P18.4 billion profit on the back of robust growth across its core businesses.
This represents a 13% year-on-year increase, translating to a return on equity of 15.7% and a return on assets of 1.6%, solidifying Chinabank’s position as one of the most profitable banks in the Philippine banking sector.
“This record performance is a testament to the hard work of our employees, the successful execution of our strategies, and our unwavering commitment to meeting the evolving needs of our customers,” said Chinabank President and Chief Executive Officer Romeo D. Uyan Jr.
Loans, investments driving growth
Total operating income surged 14% to P46.3 billion, primarily driven by higher interest income from loans, securities, and other investments, coupled with a significant boost in transaction-based income. The bank’s net interest margin improved to 4.4%, reflecting efficient management of its lending and investment activities.
Chinabank’s loan portfolio experienced robust growth, expanding 14% to P871.6 billion, driven by strong demand from both businesses and consumers. This growth aligns with the bank’s strategic focus on prudently meeting the credit needs of its diverse customer base.
Asset quality also remained strong, with the non-performing loan (NPL) ratio easing to 1.8%. The bank further strengthened its position by increasing loan provisions by 15% to P1.5 billion, resulting in an NPL coverage ratio of 141%, significantly higher than the industry average.
Despite increased volume-related taxes, Chinabank effectively managed its operating expenses, which grew by just 9% to P22.0 billion. This disciplined approach resulted in a cost-to-income ratio of 48%, demonstrating efficient operational management amid expanding business volumes.
“We sustained our strong asset expansion while maintaining a prudent approach to risk management,” said Chief Finance Officer Patrick D. Cheng. “Favorable macroeconomic trends and a supportive regulatory environment are expected to continue to bolster the bank’s performance in the coming months.”
Strengthening its position
Chinabank’s total assets expanded 13% to P1.6 trillion, solidifying its position as the fourth-largest private domestic bank in the Philippines.
Deposit generation also saw significant growth, reaching P1.3 trillion, a 13% increase driven by both retail and corporate customers.
The bank’s capital base remained robust, with total capital increasing by 15% to P162.7 billion.
This translates to a strong Common Equity Tier 1 (CET1) Ratio of 14.8% and a Total Capital Adequacy Ratio of 15.7%, both well above regulatory minimums. Book value per share also grew by 15% to P60.43, demonstrating CBC’s commitment to creating value for its shareholders.