China Bank to open 5 branches

MANILA, Philippines - ChinaBank Savings Inc. (ChinaBank Savings), a subsidiary of China Banking Corp. (China Bank), will open another five branches in the second semester of the year, bringing the total branch network to 26 by the end of 2011.

China Bank reported a net income of P14.1 million in 2010, driven by interest income on auto loans, trading of securities, and gain from sale of its non-financial assets and foreclosures.

China Bank, a member of the SM Group of Companies, presently operates a combined branch network of 276 and 440 ATMs nationwide. Its target is to breach the 400 by 2014.

Meanwhile, Alberto Emilio V. Ramos has been appointed president of ChinaBank Savings. He succeeds Samuel L. Chiong who returned full time to run the Branch Banking Group of China Bank.

Prior to his new assignment, Ramos was head of the Private Banking Group of China Bank.

Aside from spearheading the strategic direction of the savings bank, Ramos will also be serving in the board as director, and a member of ChinaBank Savings’ Executive committee and Board of Directors.

Prior to joining China Bank, Ramos was president of Philam Asset Management Inc. (Pami), the fund manager of all mutual funds of the Philippine American Life and General Insurance Co. (PhilamLife).

He has 29 years of experience in financial services in various areas such as private banking, asset management, auto financing, treasury, credit and account management gained from local and foreign institutions. He started his professional career in consumer auto financing business for Filinvest Credit Corp. before moving on to CityTrust Banking Corp. and the Bank of the Philippine Islands (BPI).

Ramos, 51, graduated in 1981 with double degrees from De La Salle University: B.A. Political Science and B.S. Marketing Management. He earned his Masters in Business Management from the Asian Institute of Management in 1986.