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Here
are the most important news items we have published in 2009.
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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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