Chinabank rebranding extends to stocks

MANILA, Philippines — China Banking Corp. has changed its stock symbol on the Philippine Stock Exchange as part of its corporate rebranding.

In a disclosure to the local bourse yesterday, Chinabank said it has amended its stock symbol to “CBC” from “CHIB,” which was approved by its board of directors on June 5.

Last month, Chinabank launched a brand refresh program and digital campaign to better improve the 103-year-old lender’s brand and image, making it more resonant and engaging to a new generation of customers.

The bank replaced the signages of its head office and branches in an ongoing rollout. It has also changed its logo with its stylized “CBC” monogram, a symbol that embodies stability and simplicity.

“Chinabank has been growing and transforming through the years, in step with the times and more importantly, in line with the changing needs and perceptions of our customers,” Gerald Florentino, Chinabank’s head of investor and corporate relations group, said.

“We believe this brand refresh will develop the Chinabank brand in the right way and enable us to deepen existing relationships and connect with a broader market.”

Chinabank’s profit grew by 18 percent to P5.9 billion in the first quarter of the year, driven by sustained expansion of its core business.

The Sy-led bank was the fifth largest bank in the Philippines in terms of assets, which stood at P1.54 trillion as of end-2023.

Moody’s Investor Service also maintained its Baa2 deposit and issuer ratings for Chinabank with a stable outlook earlier in April.

Chinabank provides a full range of banking products and services to corporate, commercial and retail customers through 648 branches and 1,047 ATMs, including the 168 branches and 203 ATMs of its thrift arm China Bank Savings.