1 month ago
18
Keisha Ta-Asan - The Philippine Star
February 5, 2025 | 12:00am
“We are honored to again be part of the PSEi after more than a decade. The ensuing investor interest in our stock reflects confidence in our long-term vision and in our ability to execute our strategic initiatives,” Chinabank president and CEO Romeo Uyan Jr. said.
STAR / File
MANILA, Philippines — Sy-led China Banking Corp. returned to the Philippine Stock Exchange Index (PSEi) on Feb. 3, marking its comeback to the 30-member benchmark index after nearly 14 years.
“We are honored to again be part of the PSEi after more than a decade. The ensuing investor interest in our stock reflects confidence in our long-term vision and in our ability to execute our strategic initiatives,” Chinabank president and CEO Romeo Uyan Jr. said.
Chinabank was previously included in the index from May 2010 to May 2011.
Chinabank’s stock price surged to over 100 percent in 2024 alone, driven by the bank’s strong financial performance.
As of end-September 2024, the bank ranked as the fourth-largest private universal bank in the country, with P1.6 trillion in total assets and a net income of P18.4 billion. In terms of market capitalization, the lender ranked 18th largest as of January this year.
Chinabank chief finance officer Patrick Cheng said the bank is profitable and steadily growing.
“Our profitability and capital efficiency have been improving the past years and we remain focused on ensuring good progress on our digital transformation and product and process enhancements,” Cheng said.
