Professional Documents
Culture Documents
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NARRATIVE REPORT
XPRACTICUM
JUNE 24, 2013-AUGUST 27, 2013
Submitted by:
__________________________
Maria Teresa L. Alarcon/ F-433
Submitted to:
________________________________________________
Ms. Carolina Intal and Ms. Joy Anne Evaristo
I.
II.
Companys Background/Profile
China Banking Corporation (China Bank, stock symbol CHIB) is the first privately-owned
local commercial bank in the Philippines. It was incorporated on July 20, 1920 and started its
operations on August 16, 1920.
In 1947, China Bank was among the first local banks to be listed at the Manila Stock
Exchange. Recovering from the pains of war, only 33 other companies, mostly those in
mining and sugar milling, were listed at the time. In 1965, the Bank was also listed at the
Makati Stock Exchange. Then in 1969, it became the first bank in Southeast Asia to process
deposit accounts on-line. Over the years, China Bank has grown and expanded, becoming a
universal bank in 1991 and one of the most trusted banks in the industry today.
China Banks financial products and services include deposits and related services,
international banking services, insurance products, loans and credit facilities, trust and
investment services, cash management services, and other services such as acceptance of
various bill payments and donations to charitable institutions.
For the first semester of 2013, China Bank posted 46% growth in consolidated profits to
P2.96 billion from P2.03 billion for the same period last year, driven by hefty improvements in
its core operations. This strong income performance translates to a return on average equity
of 13.24% and a return on assets of 1.81%. Total capital funds reached P44.58 billion. Its
Tier 1 capital adequacy ratio (CAR) and total CAR remain well above the regulatory
minimum17.11% and 17.96%, respectively.
The Bank continues to make hefty investments to expand its operationsit bought Unity
Bank last year to be merged with its thrift bank subsidiary China Bank Savings (CBS) this
year, and recently entered a credit card partnership with MasterCard, paving the way for the
launch of China Bank MasterCard Platinum and Classic in 2014.
3
China Bank offers a wide range of financial products and services through its nationwide
network of over 300 branches and more than 500 ATMs (including CBS). Complementing
this vast network are electronic banking channels that provide efficient and secure 24/7
serviceChina Bank Online (mobile and internet banking) and China Bank TellerPhone
(phone banking).
For China Bank, it has always been a matter of trust. Every single relationship is a trust
worth keeping, worth living up to. As China Bank commemorates its 93 years of successful
operations, it celebrates its many fruitful, enduring, mutually-beneficial partnerships, and
shares its remarkable story of trust and solid relationships that stood the test of time.
The story of the first privately-owned local commercial bank in the Philippines, from the
ground-breaking beginningthe meeting of 11 men, led by Dee C. Chuan, to establish a
new bank in Manila that would enable Chinese businessmen to access financing on an
unprecedented scaleto the remarkable years of evolution and expansion that followed, is
not merely a written historical account, but a graphic re-telling of how China Bank, founded
not by banking experts, but by entrepreneurs, men who risked their own capital and worked
their way up the ladder of success, men who understood the ups and downs of the business
cycle, ministered understandingly to businessmens credit requirements.
Containing around 260 pages and over a hundred photos, A Matter of Trust: The China Bank
Story penned by the late Raul Rodrigo, throws light on the nine remarkable decades of
China Banks existence, its rich history so intricately woven with the fabric of Chinese
business in the Philippines, and the success stories of loyal clients who have built their
empires with China Bank as a steadfast and dependable banking partnerthe likes of mall
king Henry Sy, JG Summits John Gokongwei, shipping magnate Victor Chiongbian, DMCIs
DM Consunji, Teodoro Tagle of the Tagle Group of Companies, ACE Hardwares Johnny
Cobankiat, steel tycoons Luis and Marcelo Co, the late construction giant FF Cruz, Boysen
4
Paints Willy Ong, Century Tunas Ricardo Po, manufacturing moguls Larry Tan-Villareal and
Lucio Yan, rice traders and cement distributors Esperanza and Jose Ching, and
businessmen and long-time friends Siao Tick Chong and Luis Uy.
Drawing on facts and insights from current and retired employees, longtime clients, and a
number of other authors, Rodrigo weaved an engaging and interesting read. The rich
content and beautiful photos, mostly published for the first time, are an invitation to leaf
through the pages.
Altogether, A Matter of Trust: The China Bank Story is a remarkable book that will not only be
of interest to China Bank employees and customers, but will also touch readers who have an
interest in history. For indeed, China Banks nine-decade long story is a part of the countrys
history, and the Banks actions, helped in no small measure, shape the economy.
Now, the history and heritage of one of the Philippines most trusted banking institutions are
not only preserved in the halls of its original head office in Binondo, built in the 1920s, but
have also been immortalized in a unique and beautiful coffee table book A Matter of Trust:
The China Bank Story.
China Bank offers a wide range of financial products and services through over 300
branches nationwide, which it plans to expand to 415 by 2014, and more than 500
strategically-located ATMs (including thrift bank subsidiary China Bank Savings). The Bank
recently announced its first semester profits of P2.96 billion, up 46% compared to the same
period last year, driven by hefty improvements in its core operations.
China Bank History
2010
China Bank was included in the 30-stock PSE index (PSEi) starting May 12;
Silver awardee on corporate governance, one of the top-scoring Publicly Listed
Company by the Institute of Corporate Directors (ICD); celebrated its 90th
anniversary. China Bank was once again recognized by the Bureau of Treasury
for its active role in money market and capital development, naming the Bank as
one of the "Top Ten Best Performing Government Securities Eligible Dealers
(GSED) in the Primary Market for 2010."
2009
China Bank was cited by Stern Stewart & Co., a leading worldwide management
consulting firm based in New York, as one of the top 100 listed companies
throughout Southeast Asia in terms of delivering shareholder value for the period
2002-2008. China Bank was one of only 11 Philippine companies and one of two
Philippine banks to be included in the ASEAN 100 Relative Wealth Added
Index.The year also saw the opening of China Bank Cebu Business Center.
Located at Cebu Business Park in Mabolo, Cebu City, it is the bank's 14th
branch in Cebu and its main business hub in the region.
2008
China Bank offered its maiden issue of fixed rate long-term negotiable
certificates of deposit (LTNCDs) to expand its asset base, gain access to longterm funding from individual and corporate investors, and to diversify the maturity
profile of its deposits.From an initial amount of P3 billion, the floatation was
upsized to the BSP-approved amount of P5 billion due to overwhelming
response. Then on September 8, 2008,China Bank's savings bank
subsidiaryformally opened its doors to the publicas China Bank Savings, Inc.
(ChinaBank Savings).
2007
2006
China Bank was awarded Best Website Banking and Finance by the Philippine
Webby Awards. The Bank also launched its On-time Remittance Card, Private
Banking Service, and Corporate Internet Banking module on the same year.
2005
2004
2002
2000
1999
China Bank's Treasury operations were automated using the Flexcube System.
China Bank's subsidiary, China Bank Insurance Brokers, Inc. commenced
operations.
1997
China Bank issued US Dollar Floating Rate Certificate of Deposit, the first
access to foreign capital markets. The Bank also launched the highly successful
deposit promo "Cash and Cars in a Plus".
1996
1995
China Bank celebrated its diamond anniversary and raised its authorized capital
to P2.54 billion.
1994
China Bank launched the 2 main products of consumer loans: HomePlus and
AutoPlus.
1991
China Bank acquired its universal bank license, making it possible to offer a
more diverse selection of products and services.
1990
China Bank joined seven other banks in to create BancNet, the country's largest
ATM network. To strengthen its position among the major players in the banking
industry, China Bank transferred its corporate headquarters to its present
location along Paseo de Roxas in Makati City.
1988
China Bank upgraded its on-line system and launched TellerCard, the Bank's
ATM banking service. The same year, the Bank introduced TellerPhone, the first
telephone banking in the Philippines.
1969
China Bank computerized its operations, becoming the first bank in Southeast
Asia to process both savings and current accounts on-line. The Bank opened a
branch in Makati City where the Head Office building is now
located.
1948
1945
China Bank resumes its operations after World War II on July 23, five months
after the liberation of Manila. It played a key role in the post-war reconstruction
and economic recovery by providing financial support to businesses and
9
entrepreneurs.
1924
Due to the growth of the Bank's business, China Bank moved to a new office at
the corner of Dasmarias and Juan Luna Streets in Binondo.
1920
On August 16, China Bank opened its doors to the banking public at No. 90
Rosario St. in Binondo, Manila with an initial capital of P10 million. It was the first
privately-owned commercial bank in the Philippines. Bar topnotcher Don Albino
Sycip was Chairman of the Board and business leader and philanthropist Mr.
Dee C. Chuan was President.
Board of Directors
Our Board of Directors, which represents our shareholders, is the highest governing
authority at China Bank. Collectively responsible for the governance of the Bank, the Board
guides our overall philosophy and direction and sets the pace for our current operations and
future developments, with the primary mandate of enhancing China Banks long-term
shareholder value and ensuring profitability. Governance by the Board also includes
continuous review of our internal structure to ensure that there are clear lines of
accountability for management throughout the Bank.
10
Gilbert U. Dee
Vice Chairman of the Board
Hans T. Sy
Chairman of the Board
Peter S. Dee
Director and Chief Executive Officer
11
Joaquin T. Dee
Director
Jose T. Sio
Director
Herbert T. Sy
Director
Harley T. Sy
Director
Ricardo R. Chua
Director, Senior Executive Vice President and Chief Operating Office
12
Robert F. Kuan
Independent Director
Alberto S. Yao
Independent Director
Dy Tiong
Independent Director
VISION
Drawing strength from our rich history, we will be the best, most admired, and innovative
financial services institution, partnering with our customers, employees, and shareholders in
wealth creation.
MISSION
We will be a leading provider of quality services consistently delivered to institutions,
entrepreneurs, and individuals here and abroad, to meet their financial needs and exceed
their rising expectations.
customers, driven by a desire to help them succeed, through a highly motivated team of
13
competent and empowered professionals, guided by in-depth knowledge of their needs and
supported by leading-edge technology.
direct insurance broking for retail and corporate customers with a wide and comprehensive
range of plans for the life and non-life insurance segment. The life insurance retail products
include Endowment, Retirement Plans, Term, Unit Linked Plans, Whole- Life, Hospitalization
Cover, and Personal Accident Cover. The Group Policies include Credit Cover, Employees
Term Cover, Gratuity and Superannuation. Under the Non-life Insurance category, Personal,
Industrial, Commercial, Motor insurance and Liability products are available.
China Bank Properties and Computer Center, Inc. (PCCI)
Created on April 14,1982 to provide computer-related services solely to China Bank. It
manages the Banks electronic banking and e-commerce requirements, including sourcing,
developing and maintaining software and hardware, financial systems, access devices and
networks to foster the safety and soundness of China Banks technology infrastructure and
keep its processing capabilities in top shape.
III.
tasks, reconcile teller cash balances and assist tellers with difficult
customer questions or problems.
Mrs. Roxann P. Mailman- Branch Operations Assistant (BOA)
The branch operations assistant (Accounting) is generally in charge of the
branch general ledger and subsidiary ledgers, processing disbursement
transactions and preparations of various reports submitted to the Head
Office departments and other institutions. In addition, she serves as a
reliever and aide in Investments/Time Deposits functions.
18
Accounting Department/Branch
Operations Department/
Operations Assistant
Branch Operations
Vault
Head
Cashier/Supervisor
Branch Manager
Teller
1
Teller
2
Insurance Sales
Representative
Customers Area
New Accounts/
Customer Relations
Assistant 19
Entrance
V. An Evaluation of my Training
A. Office Procedures Learned and Applied
On the first day of my internship, I felt so nervous to commit mistakes
because I was a newbie at that time and I also felt afraid mostly when I was having a
conversation with the superiors. But in that moment I realized, I need to prove them that I am
a firm, flexible and versatile in any kind of circumstances. And I often show them my best to
make them amazed. In line with my first day, I immediately had fun with the staffs because of
their gleeful and habitual joker personality. I also familiarized myself with the organizational
procedures and techniques.
During my training days, I often practiced myself to wake-up early in the
morning just to be on- time and until now I am so proud of myself to have maintained it. And
in line with this, I always did accomplish the tasks that were assigned to me by my
supervisors; I did paper works, compilation of files, clearing checks; I also experienced to
answer phone calls and to accommodate and entertain new customers. Then at the end of
the day, I will give myself enough time to rest to get ready for the next day.
Gruelling yet enjoyable. Enjoyable because I knew these are the works that I
may attain in the near future. I always showed my self-confidence whenever I did an activity
each day. I also worked not only for the sake of finishing the activity, but I worked with
interest on the assigned task. I absorbed and followed instructions easily. I was open to learn
new things. And during my training, I also helped my co-trainee to get on the job.
As time went by, I learned to value intimacy and close-knit relationship
together with my co-trainee and superiors. I learned principles of teamwork. I developed my
20
YALDA Y. OCAMPO
Manager
JOHANNES V. GARCIA
HILDA D. AREPENTIDO
Supervisor
BOH
ROXANN P. MAILMAN
HAROLD A. VISTAN
TELLER
D. Identify the different sections and
theirVrespective functions in the
Teller
department
Trainee- IV
BOA
CRA
21
Cash collections: All cash received from sales and from all other
sources has to be carefully identified and recorded, not only in the cash account but also
in the appropriate account for the source of the cash received. The accounting
department makes sure that the cash is deposited in the appropriate checking accounts
of the business and that an adequate amount of coin and currency is kept on hand for
making change for customers.
Accountants balance the checkbook of the business and control who has access to
incoming cash receipts. (In larger organizations, the treasurer may be responsible for
some of these cashflow and cash-handling functions.)
variety of purchases, to pay property taxes, to pay on loans, and to distribute some of its
profit to the owners of the business.
The accounting department prepares all these checks for the signatures of the business
officers who are authorized to sign checks. The accounting department keeps all the
supporting business documents and files to know when the checks should be paid,
makes sure that the amount to be paid is correct, and forwards the checks for signature.
Property accounting: A typical business owns many substantial longterm assets calledproperty, plant, and equipment including office furniture and
equipment, retail display cabinets, computers, machinery and tools, vehicles (autos and
trucks), buildings, and land.
Except for small-cost items, such as screwdrivers and pencil sharpeners, a business
maintains detailed records of its property, both for controlling the use of the assets and
23
for determining personal property and real estate taxes. The accounting department
keeps these records.
The accounting department may be assigned other functions as well, but this list gives
you a pretty clear idea of the back-office functions that the accounting department
performs. Quite literally, a business could not operate if the accounting department did
not do these functions efficiently and on time. To do these back-office functions well, the
accounting department must design a good bookkeeping system and make sure that it
is accurate, complete, and timely.
Marketing Department- planning of marketing activities,
implementation, monitoring and adjustment. Marketing helps to develop
strategic plans for the bank, which in turn determine the role of marketing in
the bank.
Marketing Service of the bank is focused on the consumer. However,
marketers should consider the opinion of other departments and work with
them in the development of plans to ensure the achievement of common
strategic objectives of the bank. Realizing its role in the bank, marketers are
in the process of marketing. The focus of marketing is the customer. The bank
divides the market into segments and chooses for himself those that provide
the best opportunity for him.
The bank must then develop marketing mix in order to launch a banking
product and to provide him a competitive advantage through the effective
positioning in the market. In order to develop the best marketing mix and
successfully implement it, the bank's marketing department is engaged in
marketing analysis; marketing planning, marketing implementation and
marketing control.To ensure normal operation in each direction on marketing
24
should begin with the preparation of planning documents that take into
account the full scope of services. The main part of the marketing plan
includes a review of plan marketing activities, market analysis, opportunities
and threats, challenges and issues, marketing strategies, action programs,
budget and control.
The transition from marketing strategies to marketing actions include three
key elements: action program defines the main tasks and activities necessary
to implement a marketing plan, indicating the performers and the timing of the
work, the organizational structure defines the tasks and powers of officers of
the bank marketing, as well as coordinate their efforts; decision-making
system and the rewards of marketing the bank's co-ordinates these types of
marketing activities such as planning, information, budgeting, compensation,
promotion and training.
E. If any, what accounting system/s is utilized in the department/company?
The accounting system utilized in China Bank is the bank
reconciliation.
F. How is business transactions recorded? What forms are being used?
Business transactions are recorded through browser banking
system. Also through various forms such as payment forms,
withdrawal slips, deposit slips, etc. which are printed through
continuous forms and are filed accordingly.
The pictures shown below are some of the tasks assigned to me during
my training:
26
27
28
29
branch manager, I make sure that I was following all the office rules.
Teamwork- I learned principles of teamwork. I developed my ability to work with
30
Punctuality- I learned to discipline myself with time management so that I will always
31