City Savings Bank (CitySavings) affiliate Bangko Kabayan Inc. (BK) has been recognized as Best MSME Growth Bank in the Philippines for 2021.
BK – a well-run thrift bank established in Batangas in 1957 – was recently hailed for its unceasing drive to increase financial inclusion for merchants, farmers, and traders by Capital Finance International (CFI.co) – a London-based print journal and online resource reporting on business, economics and finance, and which honors individuals and organizations that significantly add value to their stakeholders.
“This award – the first international award of Bangko Kabayan in this category – is a strong affirmation of our long list of recognitions in the last two decades. Moreover, it stands as a positive reinforcement of BK’s steadfast commitment to respond to the needs of our local community,” said BK president Betty Romulo.
For over six decades and with 24 branches in Batangas, Laguna, and Quezon, BK has remained driven on building stakeholder relationships, focusing on grassroots entrepreneurship in the Batangas region, which aligns with CitySavings’ overall strategy to become the Philippines’ finest mass market bank.
Known for its excellent service to its customers, BK maintains a competitive edge by anticipating customer needs and exceeding their expectations. It offers a wide range of microfinance lending programs, as well as loans and deposit products.
With branches strategically located in municipalities with potential for micro, small and medium enterprise (MSME) growth, BK aims to fuel socio-economic development and become the preferred financial partner in the Calabarzon (Cavite-Laguna-Batangas-Rizal-Quezon) region, where it has a remarkable niche.
“It is the Bank’s continued vision that BK will gain a stronger foothold in its areas of operation, making it the bank of choice in Calabarzon, and across the country eventually,” Romulo said, adding that the Bank recently ramped up a digitalization campaign that will expand its reach and bring hi-tech financial solutions to clients in rural areas.
Romulo also highlighted the vital role played by BK employees in the Bank’s success.
“We believe that customer satisfaction and shareholder returns are optimized by a happy workforce. We take pride in ensuring that Bangko Kabayan provides opportunities for employee development and community involvement,” she said.
Meanwhile, BK’s corporate social responsibility initiatives are managed by its dedicated non-profit arm, Bangko Kabayan Foundation, which was founded in 1996.
BEST MSME GROWTH BANK IN THE PHILIPPINES FOR 2021: City Savings Bank (CitySavings) affiliate Bangko Kabayan Inc. (BK) was recently hailed for its unceasing drive to increase financial inclusion for merchants, farmers and traders by Capital Finance International (CFI.co) – a London-based print journal and online resource reporting.
RESILIENCE AND DETERMINATION: With the assistance of Bangko Kabayan Inc. (BK), client Mr. Wilberto Dagame owner of Willmar Sweets food products was able to successfully pivot his business through online selling to continue his family’s source of income and provide a livelihood to his in-house workers amidst the Taal volcanic eruption and the COVID-19 pandemic.
About Bangko Kabayan, Inc:
An affiliate of City Savings Bank, Inc. (CitySavings), Bangko Kabayan Inc. based in Ibaan, Batangas has 23 branches and 1 branch Lite in the provinces of Batangas, Quezon, and Laguna, focusing on municipalities with growth potential in the MSME sector, a deposit base of more than 40,000 depositors.
About City Savings Bank:
City Savings Bank, Inc. (CitySavings) is the thrift bank subsidiary of Union Bank of the Philippines (UnionBank) and a member of the Aboitiz Group. It is one of the largest thrift banks in the country and provides a range of mass market financial products and services such as salary loans to public and private school teachers, pension loans to GSIS and SSS pensioners, seafarer loans, motorcycle loans, company loans, LGU salary loans, and traditional deposit products.
Today, CitySavings is well on its way to become the finest mass market bank in the Philippines, paving the way for inclusive prosperity in the country. The bank now has more than 140 branches nationwide.