China Bank to open 10 more branches


CHINA Banking Corp. is now building 10 more bank branches to open before the yearend, as part of efforts to grow its network and expand nationwide.

“China Bank is looking at opening the final ten branches for 2015 on December 22 to bring its year-end branch network to 352 nationwide – 517 branches including China Bank Savings and Planters Development Bank,” the bank said in a statement.

Of the 10 new branches, six are in Quezon City, three in Makati City, and one in San Juan City.

China Bank said it is “on track” with its expansion plan, as it already opened 28 China Bank branches and nine China Bank Savings branches so far this year.

In the first nine months of the year, China Bank registered an 8 percent increase in net income to P3.64 billion. It aims to grow its bottom line by 10 percent this year.

China Bank is an affiliate bank of the Henry Sy-led SM Group. The bank mainly caters to the small and medium enterprises market through Plantersbank and China Bank Savings.


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