UnionBank’s thrift arm, City Savings Bank (CitySavings) won as Fastest Growing Savings Bank - Philippines 2019 from the UK-based publication, Global Business Outlook. This is the first time the bank was recognized in this category.
At the 5th Global Business Outlook Awards, the publication cited that the thrift bank has established itself as a notable presence in the Philippines for nearly six decades. The publication’s Business Development Manager, Jerry Thomas said that “CitySavings has built a trusted reputation. It has excelled and exceeded expectations on the following criteria: ease of opening and operating accounts, structuring capabilities, interest rates, effectively addressing market conditions, customer relationship, and secure online portals.”
When the fast-evolving business landscape challenges organizations to be more relevant to customers, CitySavings positioned itself to be a market leader in the age of digital transformation among mass market banks.
The bank has expanded its services from a teachers’ bank to one that offers loans for pensioners, seafarers, and overseas Filipino workers while it continues to strengthen its flagship teachers’ salary loans product. It has also expanded its motorcycle loans business after a successful merger with Philippine Resources Savings Banking Corporation (PR Savings Bank). CitySavings now has a wide array of motorcycle dealer partners across the country.
CitySavings leverages technology through its unique lending facility, Loan Ranger. Synergies with parent bank, UnionBank, and subsidiary, PERA HUB have further expanded its reach and has allowed it to deliver an enhanced and seamless customer experience.
President and CEO Lorenzo Ocampo said: “This recognition is a testament to the perseverance and dedication of CitySavings Bankers. Our brand of straightforward banking and excellent customer service form an integral part of our success. We will continue to grow as we journey towards becoming the finest mass market bank in the Philippines.”
About the Global Business Outlook Award:
The Global Business Outlook Award recognizes the exceptional effort of the institutions that have worked tirelessly, meticulously, and with a sense of great responsibility to maintain and improve the financial foundations of the world - and have constantly evolved and stayed one step ahead of uncertainty and risk.