Rebranded CTBC Bank looks to solidify consumer finance biz

MANILA, Philippines - Chinatrust (Philippines) Commercial Bank Corp. is aiming to build industry-leading franchises in consumer finance, debt capital markets and niche-based corporate banking in the next few years, a top bank official said.

CTBC Bank president and CEO Mark Chen said this goal is consistent with the recent move of Taiwan’s CTBC Group to assume a new corporate name for its Philippine subsidiary.

Chen said the renaming initiative was spearheaded by its parent holding company, CTBC Financial Holding Co. Ltd. (formerly Chinatrust Financial Holding Co. Ltd.) to unify its diversified financial undertakings in the fields of banking, securities, life insurance, insurance brokerage, investment, trust, venture capital, asset management and leasing, among others, under a more discernable brand. 

“This move also aims to support the holding company’s overseas business development and strengthen its strategic objective of becoming an easily recognized, unified global brand,” Chen said. 

He said the bank’s corporate colors and brand promise “We Are Family,” which is part of its corporate identity, would stay. 

“There is also no change in the bank’s ownership, business strategy, operations, agreements and transactions, as well as its products and services offerings,” he said.

“As we transition to this exciting phase of our growth, our focus remains with our customers. This change would enable us to continue providing them with personalized, local service and innovation that is reinforced by our foreign bank strength and resources,” he added.

CTBC Bank first opened its doors in the Philippines in 1995, providing financial services to both local and foreign companies, aside from extensively serving the needs of the middle-income consumers.

In 2002, it entered the consumer finance business by acquiring a portfolio from a regional bank that was divesting its consumer business in the country.