Muted centennial

Several big corporations that are celebrating key milestones this year have no choice but to tone down their merrymaking given the lockdown protocols and social distancing requirements.

Sy family-led China Bank Corp., for instance, is celebrating its centennial anniversary this 2020. However, it had to cancel what should have been a big banquet celebration. And instead of holding mass at each and every branch, the bank had to contend with a virtual thanksgiving mass.

But what Chinabank won’t forgo is the restoration of Chinabank’s original headquarter office in Binondo, a heritage structure that was built in the 1920s. This Binondo heritage project, which began last year, was targeted to be completed this year. After some delays, the restoration project has resumed.

The restoration project seeks to recapture the original architecture of Chinabank’s old hub when it was first constructed, which had since been lost to various remodeling efforts after World War II ruined old Manila. This is likewise an opportunity to retrofit the building to comply with modern safety standards.

Apart from the Binondo project, Chinabank seeks to showcase its rich legacy as the bank that supported many enterprises, including those that have grown to be today’s leading conglomerates founded by Filipino-chinese tycoons (some of whom have passed). The bank is building its own museum, both physical and virtual, and updating its 90th anniversary coffee table book to mark this milestone.

This year, Chinabank is also completing its branch expansion program using the remaining branch licenses from its Plantersbank acquisition. It currently has a network of 631 branches nationwide, including 158 branches of China Bank Savings.

Despite being 100 years old, the bank has vowed to accelerate its digital transformation while strengthening its cybersecurity. During the enhanced community quarantine of Metro Manila and other key regions, Chinabank mobile app has seen a surge in transactions, in line with the trend seen across the industry. From January to May, its mobile app users increased by 83 percent and transactions more than doubled.

Branch operations continued throughout the various states of community quarantine, with over 50 percent of the network in service at shortened banking hours. Now, 80 percent of Chinabank branches are operational.