Chinatrust plans opening new branch in Cagayan de Oro City
Chinatrust Commercial Bank Corp. in the Philippines is a subsidiary of the Chinatrust Commercial Bank Corp. in Taiwan, which is the largest and most awarded private commercial bank in Taiwan and was included in the top 200 biggest banks in terms of capital.
With 23 branches in the Philippines at present, Chinatrust plans to open a new branch in Mindanao either late this year or on the first quarter of next year. The proposed new branch of Chinatrust will be in Cagayan de Oro City, and it will be its second branch in Mindanao. It put up its first branch in Davao City in 2006.
The planned expansion “only indicates that the small and medium enterprises are really doing good business in the country, and many of them comprise the bulk of our clients,” said Anna Liza Cuezon, Chinatrust’s business head.
She added that “it would also indicate that our bank has not been affected by the global financial crisis.”
Chinatrust offered the lowest lending rate in the industry at 3.5%, when the prevailing industry rate is between 8.5% and 12$.
Its parent company, Chinatrust in Taiwan has an asset size of more than $548.86 billion and enjoys a credit rating of A2 from Moody’s, A from Standard and Poor’s, and A from Fitch, “a credit rating unmatched by any local Philippine bank.”
September 20, 2009
Tags: banking, business news, Cagayan de Oro City, finance, Mindanao, money, Philippine Bank, Philippines, Taiwan Posted in: Announcement, Corporations, Philippine banks, Philippine business news, Philippines, banking, economy, finance, money
4 Responses
That is good news, As a Chinatrust Loan Consultant i am excited to provide Chinatrust Loan Assistance in the city of Cagayan de Oro. I have plenty of inquiry coming from CDO unfortunately it is not yet covered by Chinatrust Service Area.
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Roy Reply:
November 5th, 2009 at 2:08 am
That’s good to hear. I wish you luck Ferdie. Thanks for dropping by my blog.
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Do they offer loans for OFW?
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nope they are not open for OFW as of Now.
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