CBS China Bank Savings broadens financial inclusion initiatives through digital on boarding

September 2023 CBS China Bank Savings broadens financial inclusion initiatives through digital on boarding CBS China Bank Savings, the retail lending arm of listed China Banking Corporation, has on boarded thousands of public-school teachers as part of its efforts to expand financial inclusion across the Philippines. The teachers opened deposit accounts through the CBS Go App, designed by the China Bank Group to on board new clients anytime, anywhere. CBS has digitally on boarded more than 11,000 public school teachers, and it expects the over 170,000 teacher clients it services through a partnership with the Department of Education to be digitally on boarded as well. While the app itself was launched in December 2022, CBS only started using it to help public school teachers gain access to basic deposit account products in late July. The initiative coincides with the DepEd’s 2023 Brigada Eskwela Campaign, which CBS has supported for years. CBS was on hand for the national launch in Tarlac and local launches across the country. Further, the CBS Personal Mobile App offers the same teachers a secure way to check on their deposits online. It is a necessity today when personal data, credentials, and cash are at greater risk due to cyber security threats, and scams among others. "CBS China Bank Savings, through our APD Lending Group, has supported over 172,476 teachers through APDS loans nationwide. We are always looking for ways to improve our products and services for our clients. With the CBS Go and Personal Mobile App, we can offer our educators more convenience and efficiency to provide for and serve their needs," CBS China Bank President James Christian T. Dee said. Aside from public school teachers and educators, CBS is committed to providing for the financing needs of the SME sector and retail customers. It currently has 255 locations nationwide, including 164 branches, 91 lending centers, and ‘branch lites.’ It also has an ATM network with 193 locations, the second largest in the thrift bank category in the Philippines. As of September 5, 2023, CBS has a total asset base of P150.86B, making it the third-largest thrift bank in the country. CBS’ push for financial inclusion is part of its Build and Rise initiative aimed at contributing to nation-building toward a resilient Philippine economy. CBS is dedicated to improving the quality of life in the communities it serves, with the promise of "Easy Banking for You." Contact: WARREN D. DE GUZMAN Division Head, CEM, Marketing Services and Sustainability Contact: (632) 8988-9555 local 75430 Email: waddeguzman.cbs@chinabank.ph MEGAN S. ESGUERRA Marketing Services Officer Contact: (632) 8988-9555 local 75123 Email: mjsesguerra.cbs@chinabank.ph