Chinabank has earned top honors at The Asset ESG Corporate Awards 2024, receiving the prestigious Titanium Award for its outstanding commitment to environmental, social, and governance (ESG) practices. The award was presented to the bank’s chief sustainability officer, William Wayne T. Quesang, during a ceremony held in Singapore, marking a significant milestone in Chinabank’s sustainability journey.
The Asset ESG Corporate Awards, known as Asia’s longest-running ESG recognition program, evaluates companies on a range of metrics, including governance quality, social and environmental responsibility, financial performance, and investor relations. Chinabank’s recognition underscores its vital role in driving the Philippines’ transition to a low-carbon economy, alongside its strong efforts to address environmental and social risks.
In his acceptance of the award, Chinabank president and CEO Romeo D. Uyan Jr. expressed pride in the bank’s achievements. “We are honored and grateful to receive The Asset ESG Corporate Award,” Uyan said. “This recognition serves as an inspiration for us to continue promoting responsible business practices, supporting environmentally sustainable projects, and strengthening our organizational resilience.”
Chinabank’s sustainability initiatives are well-aligned with its core business strategy. The bank has been a leader in financing renewable energy projects, green buildings, and resource-efficient ventures that help reduce greenhouse gas emissions. Additionally, Chinabank upholds international best practices in corporate governance, ensuring fairness, transparency, and accountability across its operations.
As the fourth-largest private domestic bank in the Philippines, Chinabank has consistently demonstrated robust financial performance. The bank reported a record P18.4 billion in earnings for the first nine months of 2024, reflecting a 13 percent increase from the previous year. With total assets of P1.6 trillion as of September 2024, Chinabank continues to lead in key performance indicators, boasting a return on equity of 15.7 percent and return on assets of 1.6 percent.
Chinabank was one of five Philippine companies recognized at this year’s awards, including fellow SM Group companies BDO and SM Investments. The recognition highlights the increasing importance of ESG as a critical component of corporate strategy in the region.
