(The Phlippine Star)
Published on August 07,2012
Chinabank Savings offers 'refreshed' banking services
Manila, Philippines - China Bank Savings or CBS is re-launching its well-rounded range of services and products, not only to let consumers save with ease but also instills the virtue of saving despite challenges.
CBS is a subsidiary of China Banking Corp. (China Bank), which is, in turn, a member of the SM Group of Companies.
The re-launch includes the introduction of a new logo and bank promise of ‘Madaling Kausap’, which seeks to attract the target market with accessible and tailor-fit products to meet the demands of its start-up clientele.
Unlike other banks that focus only on loans and deposits, CBS has diversified product offerings. From new entrepreneurs and junior executives to yuppies and rank and file employees, the thrift bank has a plethora of market-sensitive loan, deposit, trust, checking and ATM services meet their income and financial constraints.
CBS likewise puts a premium on customer service, noting the importance of building relationships with each client who entrusts their hard-earned money to the bank.
Each client is treated like royalty, with steaming hot coffee or cocoa served to every one who transacts such as deposits or loan application, in selected branches nationwide. “We’re the kind of bank where everyone from guards to the tellers knows you by name. This is the kind of bank that we are.”
CBS’s roots can be traced to the acquisition of Manila Bank by China Bank in 2007. The newly established thrift bank first focused on deposits, consumer loans, and trust services. From a lone branch in Ayala Avenue, CBS branched out to six locations in just one year.
The expansion allowed them to double their assets by 55.6 percent in 2009 as well as 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 below; and the Easi-Checking with Diary, a checking account with passbook for easier monitoring.
In 2010, China Bank Savings opened 10 more branches, which increased the number of deposits by 38 percent. They also launched Easi-Drivin’ Auto Loan and Easi-Save Basic, a savings account with zero initial and maintaining balance. The thrift bank then launched its Instant ATM service that lets clients instantly get their ATM cards as soon as they open an account.
The number of account holders increased by 93 percent and deposits by a record high of 99 percent last year. The Easi-Drivin’ Auto Loan improved assets by 103 percent. An additional nine branches were also opened in the same year.
Today, China Bank Savings lives up to its promise of providing market-sensitive products and services to the consumer market. It is set to launch new loans products such as personal, housing and term loans, affordable deposit products and entry-level trust offerings.