No1 Press Release Distribution Service in the Philippines

...

Twin wins for Chinabank at The Asian Banker Awards 2024

Chinabank Shines at Philippine Awards 2024 with Dual Honors in Credit Cards and Home Loans

China Banking Corporation
... ...
China Banking Corporation

Chinabank Destinations Mastercard and Chinabank HomePlus have been recognized as the best in their categories at the Philippine Awards 2024, showcasing exceptional value and performance in retail financial services.

Chinabank Destinations Mastercard and Chinabank HomePlus were recognized as the best in the country at the Philippine Awards 2024 - Excellence in Retail Financial Services Awards of The Asian Banker (TAB) on September 27, 2024 at Shangri-La, The Fort.

Named Best Credit Card for Travelers in the Philippines, Chinabank Destinations Mastercard stands out for its strong market position and value proposition, setting a new standard for travel-centric credit cards in the Philippines.

TAB said Chinabank Destinations Mastercard has emerged as a top choice for affluent travellers, distinguished for its comprehensive travel rewards and premium experiences. Strategic partnerships with Accor Plus and Mastercard give cardholders access to exclusive discounts for hotel and dining, travel insurance, and airport lounges. The card’s straightforward air miles conversion and lack of restrictive conditions further differentiate it from competitors.

Launched only in August 2023, Chinabank Destinations Mastercard accounted for 27% of the bank’s new credit cards portfolio by June 2024, with over 30,000 cards issued.

The award winning credit card comes in three variants: Chinabank Destinations World Mastercard, Chinabank Destinations World Dollar Mastercard, and Chinabank Destinations Platinum Mastercard.

Awarded Best Home Loan Financing in the Philippines, Chinabank HomePlus was recognized for its strong market performance and tailored offerings. A flexible home loan for the acquisition of various property types, it can also be used for house construction, home renovation, loan takeouts, or reimbursement of recently purchased properties. With competitive interest rates that may be fixed from one to five years for protection from future rate increases, a flexible repayment term of up to 25 years, and convenient application online and at Chinabank branches nationwide, Chinabank HomePlus makes owning a real estate property both easy and affordable.
TAB noted that the product contributed significantly to Chinabank’s mortgage portfolio, which grew by 18% to P79 billion ($1.4 billion). New loan volume surged by 58% to P28 billion ($480 million). Despite portfolio growth, the bank’s asset quality improved, with past-due rates dropping from 5.5% in 2022 to 4.4% in 2023, highlighting its robust risk management.
“Chinabank is committed to being a responsive and reliable lender that consistently delivers the best customer value,” Consumer Banking Segment Head Aloysius Alday Jr. said. “Thank you for the awards, TAB. And to our exceptional teams in Consumer Banking, a big congratulations for this achievement! Of course, our gratitude goes to the people who inspire us to work harder—our customers. They are the true focus of our endeavors."
The Asian Banker Awards are among the most rigorous and transparent country-level award programs for retail banking in the Philippines. Financial institutions are comprehensively evaluated and recognized for their vision, execution, market-leading financial service propositions, outstanding achievements, and best practices.

PRESS CONTACT

Email Address
online@chinabank.ph

Viber
+639178814263
Available Mondays to Fridays (except Holidays) - 8:30AM to 5:30PM

Hot Keywords

Get your stories seen by millions online.

Post Release
Press release images Press release images

You can download the image files used in this press release.

URL Copied.