CHINA Bank Securities Corp., the stock brokerage unit of China Bank subsidiary China Bank Capital Corp., plans to raise revenues by 75 percent this year amid the backdrop of a robust economy and healthy capital markets.
“The supportive economic conditions, positive investor confidence, upbeat trend in both the equity and capital markets, in addition to the healthy pipeline of initial public offerings or IPOs bode well for our growth projections and plans to further build our business,” president and chief executive Marisol Teodoro said in a statement Friday.
Formerly known as ATC Securities, the stock brokerage firm was acquired by CBCC in March 2017. The Securities and Exchange Commission approved a change in name to China Bank Securities in July, along with a capital infusion that raised its authorized capitalization almost four-fold to P150 million from P38 million.