China Bank branch network reaches 436

China Banking Corp. opened 13 new branches last month, further expanding its nationwide footprint to 436 to give the banking public increased access to a wide range of products and services.

The China Bank Group, owned by retail and banking magnate Henry Sy, now has 596 branches all over the country including 160 branches for China Bank Savings.

The country’s seventh largest bank in terms of assets opened four new branches in Quezon City and Pasay City: one each in Pasig, Makati and Bonifacio Global; and two in Rizal.

China Bank also opened new branches in the provinc- es including Albay; Balayan, Batangas; Iligan City and Olongapo.

Each new branch offers a complete range of banking products and services with China Bank’s trusted brand of focused client service.

Earnings of China Bank grew 17.3 percent to P5.68 billion from January to September last year compared to P4.84 billion in the same period in 2016 amid the strong growth in its core and fee-based businesses.

Total deposits grew 22 percent to P578.04 billion reflecting the strength of the China Bank franchise boosted by deposit growth from new branches.

China Bank’s loan book grew faster than industry at 25 percent to P434.81 billion with the consumer segment increasing 28 percent while corporate segment rising 32 percent.

Its assets jumped 23 percent to P692.74 billion while capital funds surged 29 percent to P82.38 billion after raising P15 billion in fresh funds last May.