Chinatrust loans processed for the purpose of livelihood, education, and health, among others, are eligible for the rediscounting window. “We are glad that our efforts to support the entrepreneurial spirit were recognized,” shared Martin Lee, executive vice president and Institutional Banking head, who was on hand to receive the award together with Chinatrust president Joey Bermudez. “The award just shows that we are doing the right thing and we should continue focusing on this underserved sector.” For 2006, Chinatrust is poised to increase its base of borrowers to maximize the facility that DBP has provided to further encourage entrepreneurs in their endeavors.

Management Association of the Philippines is an organization composed of 800 professionals and executives of the country’s top companies. Thirty seven organizations participated in the competition that has been running for three years, to further encourage Philippine corporations, particularly publicly-listed companies, to produce annual reports that are hinged on greater transparency, elevated disclosure practices, and user-friendliness and aesthetics that will encourage readers to learn more about the company.

Chinatrust elected its new set of board of directors in its recently held stockholders meeting last June 22, 2006.

The election of Board members comes after a thorough screening by the Bank’s Nomination and Review Committee, composed of incumbent directors tasked to determine the composition and effectiveness of the Board as well as evaluate the qualifications of nominees to the Board and Executive Management.

William Hon continues to be the Chairman after his election in April 28, 2006. He is joined by Vice Chairman William Go, directors Joey A. Bermudez, Eric Wu, Larry Hsu, as well as independent directors Edwin B. Villanueva and Yung Fang Yang.

WILLIAM HON, Canadian citizen, was initially elected to the Board on October 21, 2005. He is a graduate of L’Ecole des Hautes Etudes Commerciales and holds a master’s degree from Concordia University. He is currently the Managing Director, Corporate Banking Division International of CTCB. He is also the Chief Country Officer of CTCB Hong Kong, and the Chief Representative of CTCB Representative Office in the Philippines.

WILLIAM B. GO, Filipino, received a Bachelor of Science degree from the University of the East and Master’s degree in Business Administration from the University of Missouri. He holds the following key positions: Chairman of Investors’ Securities and Gama Enterprises Inc.; Chairman and President of Big Blue Realty Corporation; President of Serico, Inc.; and Director of Sunvar Realty Development Corporation and State Investment House. Mr. Go has been with Chinatrust since 1995 and has been President and a member of the Board of Directors until October 15, 2001 when he resigned as President, and subsequently elected as Vice-Chairman.

JOEY A. BERMUDEZ, Filipino, a Certified Public Accountant, obtained his Bachelor’s Degree in Commerce (Major in Accountancy) from the University of Santo Tomas and his Master’s Degree in Business Economics from the University of Asia and the Pacific. He assumed his functions as President and member of the Board of Directors on October 15, 2001.

ERIC WU, Taiwanese, a.k.a Hsin-Hao Wu, was appointed member of the Board effective December 21, 2004. He graduated with a Bachelor of Business Administration degree from the National Taiwan University in 1986. He is currently a Senior Vice President of Chinatrust Commercial Bank (Taiwan).

LARRY HSU, Taiwanese, a.k.a. Hsu Chun-Jen, was appointed as director on April 28, 2006. He earned his Bachelor of Arts in Business at the National Taiwan University School. Mr. Hsu is currently the Head of Capital Markets of Chinatrust Commercial Bank.

YUNG FANG YANG, Taiwanese, is one of the Bank’s two independent directors. He joined Chinatrust (Philippines) in 1999 and has been a member of the Board of Directors since then. He obtained a Bachelor of Science degree in Physics/Mathematics from Tung-Hai University, Taiwan in 1979. He holds the position of president of KK Converter Philippines.

EDWIN B. VILLANUEVA, Filipino, joined as independent director of the Bank in 2002. He received a Bachelor of Science degree in Management Engineering (cum laude) from Ateneo De Manila University and Master’s degree in Business Administration from Wharton School at the University of Pennsylvania. He holds the following key positions: Chairman of VFL Advisors, Inc.; Senior Partner of Argosy Advisers, Inc.; President of ABV, Inc.; Director of Diversified Financial Network, Inc., the Philippine Dealing Systems Group, the Makati Supermart Group, Testech Inc., Datapax (Phil.), and PhilRatings, Inc.

We are done with the consolidation of our Binondo, Arranque, and Sta. Elena branches in a bigger, centrally located office known as Chinatrust Binondo Branch. Last May 15, valued clients of the three branches were invited to celebrate Holy Mass and share breakfast to mark the opening of the new site. Existing clients warmly welcomed the modern yet comfortable feel of the branch, and expressed gladness about the renewed commitment of the bank in giving them better services and facilities.

Following the opening of Binondo Branch, two branches in Makati opened in June, one in Leviste and another one in Rada. Both branches, which also boast of the franchise look similar to our parent bank and newly renovated and relocated branches, are aimed toward servicing the requirements of corporate clients and their executives, as well as the high net worth individuals residing in the vicinity.


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October saw the opening of two new Chinatrust branches, bringing its network to twenty. Last October 16, the Bank opened in Angeles, Pampanga, targeting locators in the Clark Special Economic Zone as well as businesses engaged in manufacturing, trading, and service in the vicinity.

A few days later, the Bank marked its first venture in the Mindanao region with the opening of Davao Branch. The branch, strategically located at the busiest area of the Philippines’ most peaceful city, also boasts of a Public Loans satellite office to cater to the needs of Salary Stretch customers.

The BSP granted Chinatrust with licenses to open five new branches during the first quarter of 2006. Two more branches are set to open in Cebu before the end of the year – one in the downtown area and another one in Mandaue. Another branch will be opened in Metro Manila by early 2007.

We are done with the consolidation of our Binondo, Arranque, and Sta. Elena branches in a bigger, centrally located office known as Chinatrust Binondo Branch. Last May 15, valued clients of the three branches were invited to celebrate Holy Mass and share breakfast to mark the opening of the new site. Existing clients warmly welcomed the modern yet comfortable feel of the branch, and expressed gladness about the renewed commitment of the bank in giving them better services and facilities.

Following the opening of Binondo Branch, two branches in Makati opened in June, one in Leviste and another one in Rada. Both branches, which also boast of the franchise look similar to our parent bank and newly renovated and relocated branches, are aimed toward servicing the requirements of corporate clients and their executives, as well as the high net worth individuals residing in the vicinity.