Chinatrust PH changes name to CTBC Bank

ABS-CBN News

Posted at Oct 30 2013 08:43 PM | Updated as of Oct 31 2013 04:43 AM

MANILA – Chinatrust Philippines announced on Wednesday that it will rename its English corporate name to CTBC Bank to bring the Philippine subsidiary into global brand alignment.

The name change aims to unify operations of CTBC Financial Holding Co., Ltd. (formerly Chinatrust Financial Holding Co., Ltd.) in banking, securities, life insurance, insurance brokerage, investment, trust, venture capital, asset management and leasing.

“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 chief executive Mark Chen.

Chen said the bank’s corporate colors and brand promise “We Are Family” will not be changed.

The bank’s ownership, business strategy, operations, agreements and transactions, as well as its products and services offerings will also remain the same.

“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,” said Chen.

CTBC Bank plans to build industry-leading franchises in consumer finance, debt capital markets and niche-based corporate banking in the next few years.

It began providing financial services in the Philippines in 1995, before entering the consumer finance business in 2002.