City Savings Bank, Inc. (CitySavings) is the thrift bank subsidiary of Union Bank of the Philippines (UnionBank) and a member of the Aboitiz Group.
It is one of the largest thrift banks in the country, and provides a range of mass market financial products and services such as salary loans to public and private school teachers, pension loans to GSIS and SSS pensioners, seafarer loans, motorcycle loans, company loans, LGU salary loans, and traditional deposit products.
With its basic philosophy of "Simple is Good", CitySavings offers its clients simple and straightforward banking, coupled with warm and helpful service, relevant products, and digital innovations to ensure the best customer experience.
Founded in 1965 in Cebu City by Don Ramon Aboitiz and Teotimo Abellana, CitySavings currently has more than 140 branches nationwide. The Bank is well on its way to become the leading mass market bank in the Philippines, paving the way for inclusive and sustainable prosperity across the country.
To elevate communities through financial inclusion.
To be the leading mass market bank in the Philippines creating innovative solutions that make banking simple for our customers.
We are an innovative, customer-focused team, driven to elevate lives of people of moderate means.
Integrity, Magis, Ubuntu
Cebu City Savings and Loan Association (CCSLA) was founded and incorporated by Don Ramon Aboitiz and Teotimo Abellana with a simple vision to "help people of moderate means"; Don Ramon Aboitiz serves as the first Chairman of the Board.
CCSLA starts operations on January 24 with an initial capital of PHP 500,000.00 at Juan Luna St., Cebu City.
CCSLA begins expansion and opens its second branch in Colon St., Cebu City; Ranked 1st among 23 savings and loan associations in the country; Ends the '60s with a branch network of 2 branches.
Don Eduardo Aboitiz becomes Chairman, succeeding his father, Ramon, who led the Board until 1974; CCSLA makes its first expansion outside Cebu and opens a branch in Tagbilaran City, Bohol.
CCSLA renames itself to City Savings and Loan Association, Inc. (CSLA); Philippine League of Savings and Loan Association recognizes the Bank for its "outstanding operational efficiency and exemplary performance and service." The Bank receives the recognition for eight consecutive years (1977 - 1984).
CSLA Board elects Teotimo Abellana as its first President; Ends the '70s with a branch network of 3 branches.
CSLA receives official recognition as a Thrift Bank and rebrands as City Savings Bank (CitySavings); CitySavings introduces its tagline "Pa gamay-gamay lang".
Cebu City Government honors CitySavings as the "most outstanding private institution in the field of banking and finance."
Jon Ramon Aboitiz takes over as Chairman, succeeding his father, Eduardo.
Enrique Abellana takes over as President, succeeding his father Teotimo who led the Bank for 16 years - the longest serving President to date.
CitySavings opens Fuente Osmeña branch, its first in uptown Cebu, to build the deposit base and expand its reach as it continues to remain faithful to Don Ramon's benevolence and vision to help the ordinary working man.
CitySavings' Corporate Head Office breaks ground exactly 30 years since operations began.
CitySavings inaugurates its Corporate Head Office at corner Osmeña Boulevard and P. Burgos St., Cebu City; First kiosk branch opens at the supermarket section of Gaisano Country Mall, Cebu City; Cebu Chamber of Commerce and Industry (CCCI) awards special citation to CitySavings for being a success story.
Rene Almendras takes over as President; CitySavings expands to Eastern Visayas and opens Ormoc branch in Leyte; Ends the '90s with a branch network of 5 branches.
Mikel Aboitiz takes over as President.
CitySavings inks a memorandum of agreement with DepEd to assist public school teachers with their financial needs.
CitySavings opens a branch in Iloilo City, Iloilo, and begins its expansion in the Western Visayas region.
Mikel Aboitiz becomes Chairman of the Board, succeeding his brother Jon who led the Board since 1986 - the longest serving Chairman to date; CitySavings enters Mindanao and establishes its branch in Davao City.
CitySavings further expands to Northern Mindanao and opens a branch in Cagayan de Oro City.
Erramon Aboitiz takes over as Chairman.
CitySavings becomes a member of Bancnet, the country's largest ATM network, and launches CSB Access to make banking more convenient.
Aboitiz Equity Ventures (AEV) fully acquires CitySavings and names it as the thrift bank unit of the Aboitiz Group; CitySavings enters Luzon and establishes its first branch in Calamba, Laguna; Ends the 2000s with a branch network of 25 branches.
CitySavings unveils its refreshed brand identity with its tagline "Simple Is Good" and brand promise of "Straightforward Banking" CitySavings establishes its foothold in the National Capital Region with the opening of its Ortigas branch in Pasig City; CitySavings further expands to Central Luzon and opens a branch in San Fernando, Pampanga.
CitySavings establishes footholds in the Ilocos and Bicol regions and opens branches in San Fernando City, La Union and Legazpi City, Albay.
UnionBank acquires CitySavings and consolidates AEV's banking units; Eugene Acevedo takes over as Chairman, succeeding Erramon Aboitiz; CitySavings expands its network in Cagayan Valley and opens a branch in Tuguegarao City, Cagayan.
CitySavings gains foothold in the Cordilleras and opens its 50th branch in Baguio City, Benguet; BIR LTD - Cebu recognizes CitySavings as one of its top collection contributors.
CitySavings raises P13.9 M for Aboitiz Foundation's #BangonVisayas campaign as a relief and rehabilitation response to the calamity brought by Super Typhoon Yolanda. This is the Bank's largest CSR effort to date; Ends 2013 with a branch network of 50 branches.
CitySavings receives P1 B investment from UnionBank as part of its expansion plans in 2014; Catalino Abacan takes over as President; BIR LTD - Cebu recognizes CitySavings as one of its top collection contributors for the second time.
CitySavings marks massive expansion and enters CARAGA, MIMAROPA, and SOCCSKSARGEN regions by opening branches in Butuan City, Agusan del Note; in Calapan City, Oriental Mindoro; and in General Santos City, South Cotabato; Ends 2014 with a branch network of 65 branches.
CitySavings marks its entry to Zamboanga Peninsula and opens a branch in Pagadian City, Zamboanga del Sur; Opens its 100th branch in Zamboanga City; Ends 2015 with a branch network of 84 branches and 16 Loans Processing Outlets.
CitySavings celebrates 50 years of keeping it simple.
City Savings Bank, Inc. (CitySavings) signs a Share Purchase Agreement (SPA) to acquire Philippine Resources Savings Bank (PR Savings).