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Here
are the most important news items we have published in 2009.
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EuroWeek Asia edition,
the Newspaper of the Global Capital Markets, announced
last February 4, 2010 the winners of their third annual
syndicated loans and leveraged finance awards, honouring
deals and houses that impressed the market in 2009.
Last year was one of the most difficult in decades,
with transaction volumes and the number of deals down
across the region. But the Asian loan market bounced
back strongly in the second half of the year, and that
recovery owed much to the skill and determination of
the region’s loan bankers. The results are determined
by a poll of market participants conducted by the EuroWeek
team in December.
For the EuroWeek Asia Award Year 2009,
San Miguel Corporation was awarded the "Best Southeast
Asian Deal of the year 2009" for its US$600 million
Syndicated Term Facility signed in September 2009 with
several major foreign banks. Chinatrust (Phils.) Commercial
Bank was one of the joint-arrangers for said term loan
transaction.
EuroWeek also awarded the parent bank,
Chinatrust Commercial Bank Ltd., as the "Best Arranger
of Taiwanese Loans for year 2009".
EuroWeek is the leading weekly newspaper
of the international capital markets, with a unique
blend of news, analysis and industry gossip published
in London.
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In
an effort to better serve our Salary Stretch borrowers,
we are pleased to announce that these branches are now
ready to release loan proceeds:
Cavite Branch
Ground Floor, PRB Building, Gen. Aguinaldo
Highway Palico, Imus, Cavite
Carmona Branch
National Highway, Barrio Maduya
Carmona, Cavite
Del Monte Branch
Ground Floor, Van Allen Building
243 Del Monte Avenue
Quezon City
Kalookan Branch
Rizal Avenue corner 3rd Avenue
Kalookan City
Greenhills Branch
Ground Floor, LGI Building
Ortigas Avenue, San Juan
Metro Manila
Loan borrowers may get their loan proceeds
in the abovementioned branches until 3:00 p.m.
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Chinatrust Philippines
and LBC Express, Inc. recently formalized its partnership
with the signing of a Memorandum of Agreement (MOA).
Chinatrust enlisted LBC Express to accept over-the-counter
cash payments from the Bank’s Salary Stretch loan
borrowers in its over 800 outlets nationwide. Aside
from LBC Express, loan borrowers can also pay their
loan through BancNet ATMs, BancNet Online, UnionBank
branches, and in all Chinatrust branches. Signing the
MOA are (seated from left) Judy Pascua, LBC Express’
Financial Services Head for Global Remittance; Anthony
Robles, Chinatrust Philippines’ Executive Vice
President and Retail Banking Group Head; Janet Ong,
LBC Express’ Chief Operating Officer for Global
Remittance. Also present to witness the signing are
(standing from left) Vilma Noche, Chinatrust Philippines’
Senior Vice President for Banking Operations and Ed
Ibazeta, LBC Express’ Account Executive.
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Chinatrust Philippines
welcomed the Year of the Tiger with the opening of its
Cagayan de Oro branch and Consumer Finance Center located
at the Gateway Tower 1, Limketkai Center along C.M.
Recto Avenue. Cutting the ceremonial ribbon were (from
left) Chinatrust Vice Chairman William Go; Chinatrust
President and CEO Mark Chen; Honorable Mayor of Cagayan
de Oro City, Constantino Jaraula; and Limketkai Sons,
Inc. President and CEO Alfonso Limketkai. The blessing
and inauguration was followed by an Appreciation Cocktails
at the Mallberry Suites Business Hotel, the highlight
of which was a talk given by Feng Shui expert Greg Ciocson
on “Welcoming Opportunities in the Year of the
Tiger” (inset, left).
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Chinatrust
(Philippines) Commercial Bank Corporation, the only
listed foreign bank in the
country, will soon open a branch and a Consumer Finance
Center at the Ground Floor, Gateway
Tower 1, Limketkai Center, right at the heart of Cagayan
de Oro commercial district.
“Our expansion strategy has always been to have
a banking presence in the major cities of
Visayas and Mindanao, and the opening of our Cagayan
de Oro branch is consistent with this
strategy,” says Chinatrust Executive Vice President
and Retail Banking Head Anthony Robles.
Now on its fourteenth year in the industry, Chinatrust
has carved its niche as one of the top
commercial banks in the country today catering to the
needs of mostly businesses and the working
class individuals. It has also maintained its market
leadership in the personal loans business.
“The vast majority of the Filipino population
is composed of salaried workers, managers, and
executives whose income are constant and who have a
need for credit to smoothen out occasional
glitches in their finances.” said Robles. “These
individuals are usually more prudent in their use of
funds and are more conscientious in fulfilling their
obligations.”
Robles further revealed that it intends to keep its
dominance in the personal loans business as
it brings the product closer to its target market. “We
have made our Salary Stretch personal loan
product available in our branches in Metro Manila, Central
Luzon, Cebu, Davao, and soon in Cagayan
de Oro,” continued Robles. “We have also
improved our credit process to make it possible for
a
borrower to apply for a loan in the morning, and get
his cash in the evening, without sacrificing our
credit criteria.”
Chinatrust Philippines has one of the largest branch
networks among foreign banks in the
country. It is a subsidiary of Chinatrust Commercial
Bank (CTCB), the largest and most awarded
private commercial bank of Taiwan and one of the 200
biggest banks in the world in terms of capital.
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CFHC
Chairman renews support for local subsidiary. Chinatrust
Financial Holding Co., Ltd. Chairman Dr. Jeffrey L.S.
Koo recently visited Chinatrust Philippines to express
his continued support for the local subsidiary and recognize
the Bank's strong performance under the leadership of
its new president and CEO Mark Chen. Photo shows Chinatrust
Directors and employees cheering on as Dr. Jeffrey Koo
(inset) unveils the new Chinatrust slogan "Taiwan
Champion, Asian Leader" as the global battle cry
for the coming decade.
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Chinatrust
Philippines recently inaugurated its Buendia-Pasong
Tamo branch located strategically at the Ground Floor,
Burgundy Corporate Tower, 252 Sen. Gil Puyat Avenue,
Makati City. Over the years, Chinatrust has beefed up
its presence in commercial areas and key cities nationwide
catering to the banking needs of mostly businesses and
middle to upper class individuals. Soon, Chinatrust
will be opening its Cagayan de Oro City branch. Cutting
the ceremonial ribbon are (from left) Mark Chen, President
and CEO of Chinatrust Philippines; Roland Garcia, President
of Trans-Phil Builders Corp.; Rey Anthony David, Jr.,
President of Great Wall Advertising; William Hon, Chairman
of Chinatrust Philippines. Also present to witness the
event are Chinatrust Directors and Senior Officers (from
left) Eric Wu, Larry Hsu, Lory Borromeo, Tony Robles
and Marty Escalona. |
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Chinatrust
Philippines was recently tapped by GHC Supercard Corp.
and Hypercash Payment Systems, Inc. for a co-branding
arrangement to offer Supercard - a debit card that is
attached with an mCash RFID device that will allow contactless
payments. The Supercard will provide cardholders fast
and easy access to the Metro Rail Transit 3 transport
services and other mCash authorized merchants. Since
the Supercard is a Visa and BancNet card, it can be
accessed in over 9,000 BancNet, Megalink and Expressnet
ATMs nationwide and over 1 million Visa ATMs worldwide.
It can also be used by cardholders to pay for purchases
at any establishment (supermarkets, department stores,
restaurants, etc.) that bear the BancNet and Visa mark.
Soon, cardholders will be able to top-up or reload their
cards through BancNet Online, Mobile Banking and ATMs.
Present during the signing ceremony are, seated from
left: Anthony Robles, Chinatrust Executive Vice President
& Head of Retail Banking Group; Mark Chen, Chinatrust
President & CEO; Pete Diomampo, President of GHC
Supercard Corp.; Renato Valencia, Chairman & CEO
of Hypercash Payments Systems, Inc.; Jose Ma. De Leon,
CFO & Treasurer of Hypercash Payments Systems, Inc.;
standing from left: Gerald Crisologo, Business Development
Manager of Visa International (Asia Pacific); Carlos
Casas, Chinatrust First Vice President & Head of
Cash Management Services. |
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TAIPEI
-- The Board of Directors of Chinatrust Financial
Holding Company (CFHC) recently announced that
it has appointed Michael B. DeNoma as chairman
of its banking subsidiary, Chinatrust Commercial
Bank (CTCB) effective June 30, 2009. DeNoma
succeeds Charles L.F. Lo, who was in turn promoted
to vice chairman of the holding company.
“Michael’s
expertise and industry experience as one of
Asia’s most senior international bankers
make him ideally suited to provide Chinatrust
with the insight and broad perspective to help
position Chinatrust for long term success and
elevate the Company into a regional financial
services leader,” said Dr. Jeffrey L.S.
Koo, Chairman of Chinatrust.
“CFHC is one of the most respected
franchises in Taiwan and I am honored to become
a Director of the Board as well as the Chairman
of CTCB,” said DeNoma. “I look forward
to working closely with the rest of the Board,
the senior leadership team, and the entire Chinatrust
organization’s hard-working, dedicated,
and talented associates to create value for
our shareholders.”
Prior to his appointment, DeNoma was chief executive
officer of
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global
consumer banking and a group executive director of Standard
Chartered PLC. Before his stint at Standard Chartered,
he also held executive marketing roles at Hutchison
Whampoa, Citibank, and Pepsi Co., Inc.
CTCB is the largest and most respected commercial bank
in Taiwan with solid track record of profitability and
product leadership. Outside Taiwan, CTCB has subsidiaries
in the Philippines, United States, Canada, and Indonesia.
It has branches in Hong Kong, Kowloon, Tokyo, Ho Chi
Minh, Singapore, New York, New Delhi, and representative
offices in London, Bangkok, Beijing, Los Angeles, Manila
and Hanoi. |
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Chinatrust
(Philippines) Commercial Bank Corporation president
Mark Chen recently disclosed that its net income after
tax was at Php 85.72 million in the first five months
of 2009, a 379.16 percent surge over the Php 30.7 million
loss it recorded in the same period last year.
The rise in net income can be attributed
to the 17.14 percent growth in interest income which
amounted to Php 127.78 million, and the steady rise
in other income which grew by Php 43.42 million, or
an increase of 54.43 percent.
Likewise, the Bank’s total
deposits grew by Php 3.7 billion on a year-on-year
basis, or an increase of some 24.64 percent from the
Php 15.02 billion recorded as of end-May of 2008 to
Php 18.72 billion for the same comparative period
this year. As a result, the Bank’s aggregate
resources increased to Php 25.71 billion this year
compared to the Php 22.13 billion recorded the previous
year.
“The Bank never wavered in
its belief that opportunities exist even amidst unfavorable
market conditions,” said Chen. “Through
effective risk management and being selective in the
markets that it served, Chinatrust was able to record
substantial growth in its income despite the adverse
economic conditions that continued to prevail world-wide.”
Even more compelling was the growth
that the Bank experienced in its corporate loan portfolio,
which increased by a phenomenal 68.70 percent, from
Php 5.52 billion as of May, 2008 to Php 9.32 billion
for the same period this year. “What made the
increase in the Bank’s loan portfolio more significant
was the marked improvement in the Bank’s non-performing
loans, which as a percentage of total loans went down
from 4.81 percent to 3.61 percent for the period under
review,” said Chen.
“With the achievements
that Chinatrust attained during the first five months
of the year, I am confident that the Bank will be
on track of the targets it has set for the rest of
the year,” concluded Chen.
Chinatrust Philippines has
one of the largest branch networks among foreign banks
in the country. It is a subsidiary of Chinatrust Commercial
Bank (CTCB), the largest and most awarded private
commercial bank of Taiwan and one of the 200 biggest
banks in the world in terms of capital.
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