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Merger strengthens China Bank Savings, offers more to SMEs and consumers

 
The merger between China Bank Savings (CBS), the thrift bank arm of China Banking Corporation (China Bank), and Plantersbank, the country’s lead bank for small and medium enterprises (SMEs), introduces a stronger entity under the CBS name. 
   
The consolidation now places CBS as the 4th largest thrift bank in the country and positions the bank as a major player in consumer and SME lending. The merger has also resulted in the growth of the network; with over 140  branches nationwide, and more branches expected to open in the coming months.
 
In a recent statement, CBS ensured its customers that it upholds its position as a community-oriented bank, and that it remains true to its vision of being the financial partner of SMEs and consumers, leading them to prosperity.
 
CBS began operations in 2008, following China Bank’s acquisition of Manila Bank in the late 2007. China Bank, one of the country’s largest private universal banks, owns over 95% of the total outstanding capital stock of CBS. The strategic mergers with Unity Bank in 2012 and now, with Plantersbank makes CBS one of the fastest-growing thrift banks in the country today.
 
 
 
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