MANILA, (PNA) — Chinatrust (Philippines) Commercial Bank Corporation today announced the change in its English corporate name to CTBC BANK (PHILIPPINES) CORP., or simply CTBC BANK to bring the Philippine subsidiary into global brand alignment.
The renaming initiative is 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 – CTBC.
“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,” said Chinatrust Philippines president and CEO Mark Chen.
But he clarified that the Bank’s corporate colors and brand promise “We Are Family,” which is part of its corporate identity, remains the same.
There is also no change in the Bank’s ownership, business strategy, operations, agreements and transactions, as well as its products and services offerings.
“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,” explained Chen.
CTBC Bank first opened its doors in the Philippines in 1995 providing financial services to both local and foreign companies in the country, 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. Since then, CTBC BANK’s consumer finance portfolio has become one of the fastest growing in the country. In the next few years, CTBC BANK (PHILIPPINES) CORP. is said to build industry-leading franchises in consumer finance, debt capital markets and niche-based corporate banking.