City Savings Bank

City Savings Bank, commonly known as CitySavings, is a thrift bank subsidiary of Union Bank of the Philippines[5] and established in 1965, founded in Cebu City and also member of the Aboitiz Group of Companies.[6] City Savings is regulated by the Bangko Sentral ng Pilipinas. Its corporate office is located at the UnionBank Plaza, Meralco Avenue corner Sapphire and Onyx Streets, Ortigas Center, Pasig, Metro Manila.

City Savings Bank
FormerlyCebu City Savings and Loan Association
TypePublic
IndustryFinance and Thrift Banking Industry
Founded1965 (1965)
Headquarters
UnionBank Plaza, Meralco Avenue corner Sapphire and Onyx Streets, Ortigas Center, Pasig, Metro Manila
,
Philippines[1]
Area served
Philippines
Key people
  • Edwin R. Bautista (Chairman)
  • Eugene Acevedo (Vice Chairman)
  • Lorenzo "Larry" T. Ocampo (President and CEO)
ProductsDigital banking,[2] Loans, Pensions, OFW, Savings Accounts, Checking Accounts[3]
Total assetsP76.795 Billion PHP (2019)[4]
Number of employees
1,845 (2020)
ParentUnionBank of the Philippines
Websitewww.citysavings.com.ph

History

CitySavings was incorporated by Don Ramon Aboitiz in 1965 at Cebu City, Philippines as Cebu City Savings and Loan Association (CCSLA). After 11 years, the bank expanded to the nearby city of Tagbilaran, Bohol. In 2013, City Savings was acquired by UnionBank and became its subsidiary.[7][8] They then expanded their network in Cagayan Valley and opened a branch in Tuguegarao, Cagayan.

Ownerships
  • Bangko Kabayan[9]
  • PR Savings Bank
  • Petnet

Partners

See also

References
  1. "Bank Advisory: Head Office Relocation, Ortigas Branch Transfer and new Sto. Niño Branch".
  2. Newman, Minerva (10 June 2021). "Thrift bank boosts up digital banking for Cebu teachers, SMEs". Philippine News Agency.
  3. "Home page". citysavings.com.ph.
  4. Nora (February 2019). "Top Thrift Banks in the Philippines". Banks Philippines. #5 in list.
  5. "UnionBank thrift arm CitySavings issues P5-B notes to expand loan portfolio". ABS-CBN News.
  6. "CitySavings: G Suite Pioneer in the Banking Industry". Kollab.ph. 13 December 2019.
  7. Dumlao, Doris C. (9 January 2013). "Union Bank taking over CitySavings Bank". Inquirer.net. Archived from the original on 13 January 2013. Retrieved 12 June 2021.
  8. "City Savings issues P5-billion corporate notes". Manila Standard. Retrieved 12 June 2021.
  9. "CitySavings continues mass market expansion with Bangko Kabayan". The Manila Times. 19 February 2021.
  10. "Lalamove taps CitySavings for motorcycle loan financing". www.gmanetwork.com.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.