Chinabank shares surge ahead of PSEi re-inclusion

Shares of China Banking Corp. (Chinabank) surged in anticipation of its re-inclusion into the Philippine Stock Exchange index (PSEi) starting February 3.

Chinabank was the most actively traded stock by value last week, with P6.51 billion worth of shares changing hands.

The bank's stock closed at P93 on Friday, a 33.8% increase from the previous week and a 46.5% rise from the end of 2024.

Chinabank's stock price has increased over 100 percent in 2024 alone, underpinned by the bank's record performance.

As of end-September 2024, Chinabank was the fourth largest private universal bank in the country with P1.6 trillion in total assets and P18.4 billion in net income.

Chinabank President and CEO Romeo D. Uyan Jr. expressed honor at rejoining the PSEi, stating it reflects investor confidence in their long-term vision and execution of strategic initiatives.

Chinabank will rejoin the PSEi after previously being part of the index from May 2010 to 2011, while AREIT, Inc. will also be added, replacing Nickel Asia Corp. and Wilcon Depot, Inc.