China Banking Corp. was named the Best Bank in the Philippines by Hong Kong-based financial publication The Asset for its strong financial performance and proven expertise in corporate and institutional banking, advisory and transaction banking, and environmental, social, and governance initiatives.
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 in March.
China 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. China Bank recorded a 35-percent increase in net profit in the first nine months of 2021 as the economy started to open up.
It is the only bank in the country to record higher quarterly net income year-on-year since the start of the global pandemic. The bank also had one of the best cost-efficiency ratios among banks with assets of over P1 trillion. Julito G. Rada