Question 1

What is Cathay United Bank - Manila Branch?

Accepted Answer

Cathay United Bank - Manila Branch is a foreign commercial bank branch operating in the Philippines. It is part of Cathay United Bank Co., Ltd., one of Taiwan's largest commercial banks and a wholly-owned subsidiary of Cathay Financial Holdings, Taiwan's largest financial holding company. The Manila Branch focuses on serving corporate and institutional clients with one-stop banking services in Metro Manila's central business district.

The branch serves as a strategic gateway for Cathay United Bank's Southeast Asian expansion, connecting Taiwanese businesses and international corporations with financial services in the Philippine market.

Question 2

When was Cathay United Bank - Manila Branch founded?

Accepted Answer

The Manila Branch officially opened for business on October 2, 2015, following approval from the Bangko Sentral ng Pilipinas (BSP) on September 24, 2015. However, Cathay United Bank had maintained a presence in the Philippines as a Representative Office for 18 years prior to this, since 1997.

The branch's establishment marked a significant milestone in Philippine banking history. It was the first Taiwanese bank and the third foreign bank to enter the Philippine banking industry following the promulgation of Republic Act (RA) 10641 in 2014, which liberalized foreign bank entry and allowed foreign banks to establish full-service commercial branches in the country.

Question 3

Where is Cathay United Bank - Manila Branch headquartered?

Accepted Answer

The Manila Branch is headquartered in the Zuellig Building, located on Makati Avenue corner Paseo de Roxas in Makati City, Metro Manila. The branch relocated to this new 959-square-meter office on the 31st floor in November 2024.

The location positions the branch at the heart of the Philippines' premier financial hub, with convenient access to multinational corporate offices, embassies, and shopping centers. The new office features an open layout designed to create a more comfortable working environment for employees and clients.

Question 4

Where does Cathay United Bank - Manila Branch operate?

Accepted Answer

Cathay United Bank - Manila Branch operates exclusively in Metro Manila, specifically in Makati City's Central Business District. Unlike retail banks with extensive branch networks, the Manila Branch maintains a single strategic location focused on serving corporate and institutional clients in the Philippines' primary financial center.

The branch's operations are concentrated on business banking, trade finance, and corporate services rather than retail banking expansion across multiple Philippine regions.

Question 5

What services does Cathay United Bank - Manila Branch offer?

Accepted Answer

The Manila Branch provides one-stop banking products and services tailored to corporate customers, including:

Cash Management and Treasury Services: Deposits and withdrawals, integrated cash management products, and comprehensive cash flow services to help businesses manage receipts and payments efficiently.

International Banking: Foreign exchange services, remittance services, and cross-border payment solutions connecting Philippine businesses with Taiwan and other Asian markets.

Trade Finance: Comprehensive international trade finance services supporting import-export businesses and companies engaged in cross-border commerce.

Corporate Finance: Complete and diversified corporate finance services, customized comprehensive financial services for business clients, and project financing solutions.

The branch also holds Foreign Currency Deposit Unit (FCDU) authority from the BSP, allowing it to conduct foreign currency-denominated transactions.

Question 6

What makes Cathay United Bank - Manila Branch unique?

Accepted Answer

Cathay United Bank - Manila Branch pioneered Taiwanese banking presence in the Philippines as the first Taiwanese bank to operate as a full-service commercial branch following the 2014 banking liberalization. This first-mover advantage positioned it as a bridge between Philippine and Taiwan business communities.

In 2022, the Manila Branch launched the Philippine financial market's first sustainability-linked loan in collaboration with the Villar Group, a Philippine conglomerate. This achievement earned recognition from The International Business Awards in 2023 and demonstrated the branch's leadership in sustainable finance within the Philippine market.

The branch maintains strong corporate social responsibility commitments, having actively supported the Taiwan Fund for Children and Families (TFCF) Philippines Branch Office since 2019. These efforts focus on youth empowerment and community development programs.

The Manila Branch is part of Cathay United Bank's extensive ASEAN network, which includes offices in nine of the ten ASEAN member states, making it the most extensive network in the ASEAN markets among Taiwanese banks.

Question 7

What type of financial institution is Cathay United Bank - Manila Branch?

Accepted Answer

Cathay United Bank - Manila Branch is classified as a Foreign Bank Branch under Philippine banking regulations, specifically operating as a universal/commercial bank branch. It is licensed by the Bangko Sentral ng Pilipinas (BSP) to conduct full-service commercial banking operations.

In the Philippine banking system, the Manila Branch falls under the category of foreign banks authorized to operate branches pursuant to Republic Act 10641, the law that amended the General Banking Law to allow foreign bank entry. Unlike subsidiary banks (which are separately incorporated Philippine entities), branch operations are direct extensions of the foreign parent bank.

The branch holds Enhanced Foreign Currency Deposit Unit (EFCDU) authority, allowing it to conduct foreign currency transactions alongside its regular banking operations, which is typical for foreign commercial bank branches serving international business clients in the Philippines.

Cathay United Bank - Manila Branch

in the Philippines 🇵🇭

Crypto-Friendliness

All done!

About Cathay United Bank - Manila Branch in the Philippines