In Cebu, the bank has invested in putting up a bigger bank outlet to accommodate its growing clients especially in the employees' salary loan feature, Chinese depositors, and families of Taiwan-based OFWs.
The Taiwan-based ChinaTrust is strengthening its niche in the salary loan feature, banking on the growing number of potential borrowers who are employed by established corporations.
In an interview with the bank's president Joey A. Bermuldez, he said that ChinaTrust is expanding its partnership with corporations around the country, to offer its consumer finance facility to the salaried personnel.
The bank is charging not more than 1.5 percent interest rate per month, and employees could avail of loan products to start small businesses, and assist other financing requirements, through salary-deduction payment scheme.
ChinaTrust offers at the maximum of a two-month salary equivalent, through its "Salary Stretch" program, it has worked closely with corporations' chief finance officers, and human resource managers.
In Cebu, the bank has offered salary loans to big multinational companies like Mitsumi, and other local companies.
While other banks are also offering this kind of loan product, Bermuldez expressed confidence that ChinaTrust can sustain its leadership in the salary loan access as it has in-placed infrastructure, and proven mechanics.
"We have the competitive advantage, our infrastructure, mechanics, technology are in placed. We made it easy for the employers to implement the salary loan for their personnel," Bermuldez said.
The bank's growth in Cebu is primarily driven by its robust growth in salary loan market.
To date, the bank has a total of P3 billion to P4 billion loan portfolio. Large amount of this portfolio is utilized in the salary loan feature.
Aside from its bulk employee market, ChinaTrust is also serving thousands of Filipino Overseas Workers (OFWs) based in Taiwan, and the local Chinese traders.
Its 18 branches located across the urban areas in the country are now offering salary loan product to over 700 companies, including the Nokia Philippines, among others.
Starting this year, the bank is strengthening its salary loan offering in the growing service sector market, like the Business Outsourcing Process (BPO) companies, call centers, and telecoms.
Although it is owned by Taiwan-based ChinaTrust banking institution, the Philippine operation is locally incorporated, and operates as a subsidiary of ChinaTrust in Taipei, Taiwan.
The new and bigger ChinaTrust outlet in Cebu is located at the Archbishop Reyes Avenue. It has transferred from Keppel Center building at Cebu Business Park.