China Bank Savings pins growth on inclusive finance thrust

MANILA, Philippines — Retail lender China Bank Savings (CBS) is making an “inclusive finance-driven” bid to expand geographical and market reach.

The Makati-based CBS, touted as the country’s fourth largest thrift bank, was set up in September 2008 by parent China Banking Corp. to cater to under-served markets.

From the original focus on consumer banking, CBS has grown its franchise to include small enterprise and specialized lending to segments like public school teachers and Department of Education employees.

“Our program of network expansion to the countryside signifies optimism in the long-term business prospects of those areas and our institutional commitment to promote financial inclusion,” according to CBS chairman Ricardo Chua.

“As the country strives for recovery, CBS is determined to keep the pace of delivering traditional and digital banking services to the broad consumer market, small business owners, as well as special markets we serve,” Chua said.

Proof of its optimism, the thrift bank opened three regular branches and 11 kiosk-type shops from June to September, bringing the branch network to 171.

The new regular branches are in Butuan, Sorsogon City, and Kalibo, with sales offices in San Nicolas in Ilocos Norte; Iriga City in Camarines Sur; Estancia and Passi City in Iloilo; San Jose de Buenavista in Antique; Jordan in Guimaras Island; Kabankalan City and San Carlos City in Negros Occidental; Calbayog City in Samar; Digos City in Davao del Sur, and Glan in Sarangani.

“CBS is set to open 24 more branch-lites until December 2021,” CBS president James Christian Dee said. He said CBS continues to scout for sites, where new segments are expected to support long-term growth of the bank.

CBS is eyeing several locations in Aurora, Bontoc, Quezon, Quirino, Nueva Vizcaya and Camarines Norte in Luzon; the Mimaropa region; Bohol and Samar in the Visayas; and Bukidnon, Agusan and Zamboanga in Mindanao.

“As a bank, we are genuinely concerned about promoting ‘easy banking access for all’ thereby contributing to the rapid recovery of communities we serve. And that itself makes good business sense,” Dee said.

“Our expansion effort in the next period will focus on making financial services highly accessible to teachers and staff of public schools through these CBS branch-lites,” he said. “Branch-lites are designed so that your visits will provide a warm, personalized experience, with the assurance that business is conducted safely and comfortably.”

“Di biro maging guro lalo na sa panahon ngayon,” explained APD Lending Group Head Niel C. Jumawan, who is responsible for expanding the specialized loan office network. “For years, CBS has been promoting the idea of financial inclusion. Our expansion to towns and secondary cities is expected to benefit more DepEd teachers and staff and their families, and help improve the quality of life in the communities where CBS operates.”

The Easi-APDS loan program of CBS helps boost consumer power of the public education sector, Jumawan explained. Under the CBS loan program for DepEd teachers and staff, qualified customers can avail of loans of up to P1.0 million, without any collateral with a term of 12 months up to 36 months which may be used for emergency expenses, purchase of devices, home repairs, continuing education, and as working capital for home-based businesses.