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CBS opens 3 mini branches in Savemore

CBS opens 3 mini branches in Savemore
From left: Savemore Leasing Manager Kenneth Chew, CBS President Alberto Emilio Ramos, Savemore Market and SM Supermarket President J.C. Mendoza, Savemore EVP Jojo Tagbo, and CBS FVP & Auto Loans Head Chito Santamaria during the ribbon-cutting ceremony at CBS Avenida Branch on September 10, 2013.

China Bank’s thrift bank subsidiary China Bank Savings (CBS) recently opened three new mini branches in Savemore Market: CBS Jackman, CBS Nova Plaza, and CBS Avenida mini branches, bringing the savings bank’s Savemore in-store branches to seven—all open daily, from 10 a.m. to 7 p.m., providing greater convenience and accessibility to customers. To date, CBS’ nationwide network is now 46-strong.


CBS opens 3 mini branches in Savemore
CBS' VP & CMG Head Edralin Agbayani and EVP Jaime Valentin Araneta CBS EVP, and Savemore officers cutting the ceremonial ribbon to formally open CBS Nova Mall on September 10, 2013.

Savemore is a chain of neighborhood grocery stores under the SM Food Retail Group. Savemore outlets are strategically-located outside SM malls to bring the SM shopping experience closer to where shoppers live and work. CBS Jackman is at the lower ground floor of Jackman Plaza in EDSA-Munoz, Quezon City; CBS Novaliches Plaza Mall is along Quirino Highway, corner Ramirez St., Novaliches Proper, Quezon City; and CBS Avenida is at 665 Rizal Ave., Jennet & Lord Theater, Sta. Cruz, Manila. With longer banking hours, highly accessible locations, complete range of services, full complement of e-banking facilities, and a truly “Madaling kausap” vibe, these CBS’ mini branches are vital to the savings bank’s branch network expansion strategy.


CBS opens 3 mini branches in Savemore
CBS vice presidents Kweenie Ruffy, head of Corporate & SME Loans; Emmanuel Geronimo, head of Controllership Group; and Anna Maria Ylagan, head of Trust Banking Group, cutting the ceremonial ribbon with the Savemore officers at the opening of CBS Jackman on September 10, 2013.

“Our mini branches allow us to cut operating costs while remaining competitive and very accessible to customers,” said CBS President Alberto Emilio “Joey” Ramos.

In May and July, CBS opened its first batch of mini branches in Savemore: CBS Araneta Center COD, Anonas, Pedro Gil, and Nepa Q-Mart mini branches. It also opened a mini branch at the Fil Oil Gas Station in Tanauan, Batangas. CBS is looking at 16 full service mini branches this year, not just in Savemore, but also at select SM Hypermarket outlets. In the pipeline are mini branches in Taft-Masagana in Manila, Acacia Estates in Taguig City, Mezza in Sta. Mesa, Nagtahan in Manila, Camarin in Kalookan City, and Visayas Avenue in Quezon City (Savemore); and Adriatico in Manila and FTI in Taguig City (SM Hypermarket).


CBS, which recently celebrated its 5th anniversary, is looking at a 73-strong branch network in 2013 and 100 by 2014. Aside from the mini branches, the savings bank will also be opening 10 traditional branches and will be renaming and converting 15 Unity Bank branches in the last quarter of the year.