China Bank Savings’ roots can be traced to China Banking Corporation’s acquisition of Manila Bank in 2007. The newly established thrift bank first focused on deposits, consumer loans and trust services. From a lone branch in Ayala Avenue, China Bank Savings was able to branch out to six locations in just one year.
The expansion allowed them to double their assets by 55.6% in 2009 and introduce three new products—the Easi-Earn High Five, a five-year time deposit account that earns interest tax free; Easi-Save for Kids for little savers aged 12; and the Easi-Checking Diary, a checking account with a passbook for easier monitoring.
In 2010, China Bank Savings opened ten more branches, which increased the deposit level by 38 percent. Also launched were Easi-Drivin’ Auto Loan and Easi-Save Basic, a unique ATM service that lets clients instantly get their ATM cards as soon as they open an account with zero initial and maintaining balance. The number of account holders increased by 93% and deposits by a record high of 99 percent.
The Easi-Drivin Auto Loan drove a 103% increase in assets and a 135% boost in auto loans bookings. An additional nine more branches were also opened in the same year.
Today, China Bank Savings lives up to its promise of being Madaling Kausap by providing diverse products and services to the consumer market. From Easi-Drivin Auto Loan, it has expanded its loans portfolio by offering Easi-Livin Home Loan and Easi-Funds Personal Loan. New solutions like SME Cash Management Services and entry-level Trust products also came into the picture.
The newest addition to its pool of products is the Easi-Padala, the country’s first domestic money transfer service via a local bank. In partnership with Cebuana Lhuillier, CBS Easi-Padala was developed to provide a fast, secure, and affordable domestic money transfer service. The funds are electronically sent real-time, and the fee is up to 30% cheaper compared to other domestic money transfer services offered by money transfer agencies.
To-date, CBS has 73 branches – six (6) of which are open on Saturdays while ten (10) SaveMore branches are open from 10 a.m. to 7 p.m. daily — and with plans to grow its network to 100 branches this year. Alongside the branch network expansion, CBS is also strengthening its electronic banking channels. It now has 74 ATMs and an internet banking portal – www.cbs.com.ph – to provide clients with the convenience and security of banking online. From product information to account inquiry to loan application and even bills payment, CBS Online is available 24/7.
Prosperity for the Filipinos.
Working to uplift your standards of living.
Membership Type: Regular
Contact: For your banking concerns, please call us at (632) 988-9555
Monday to Friday: 8:30 AM - 5:30 PM, Manila time.
Website: China Bank Savings