The Sy family’s China Banking Corp. and investment banking arm Chinabank Capital bagged major accolades during the prestigious Asian Banking and Finance (ABF) awards, which were recently held at the Marina Bay Sands, Singapore.
Chinabank, one of the country’s top lenders, was named domestic retail bank of the year while Chinabank Capital won the debt deal of the year and IPO deal of the year, all in the Philippines category.
“ABF recognizes banks and financial institutions in Asia for their outstanding performance, innovation and excellence in retail and investment banking,” the lender said in a statement.
Chinabank earned the top country prize for its outstanding performance, achieving a 15 percent increase in net income to P22 billion in 2023. As the fourth largest private universal bank in the Philippines, it has maintained a return on equity above 15 percent for the past two years.
Chinabank and Chinabank Capital were recognized for securing the largest project finance deal of 2023 with a P25 billion term loan for Suntrust Resort Holdings’ integrated resort and casino complex in Entertainment City.
Moreover, Chinabank Capital won IPO deal of the year for arranging the listing of Repower Energy Development Corp.
Chinabank Capital was the sole issue manager, lead underwriter, and sole bookrunner for the offering which enabled the renewable energy player to raise P1.15 billion last year despite weak market conditions.
Chinabank has earned numerous international and local awards over the years and was recently named among the top 500 companies in the region by the inaugural Fortune Southeast Asia 500 list.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
