City Savings Bank Inc. boosted its loan book by 35 percent to about P97.5 billion as it continues to cater to the mass market, including motorcycle lending and other salary loan segments.

CitySavings CEO Lorenzo Ocampo said the thrift bank cared deeply for its clients and continuously strive to deliver superior customer experience even during the COVID pandemic.

'They are the reason for our success and for that, we are immensely grateful to them. With our basic philosophy of 'Simple is Good,' we will continue to fulfill our purpose of elevating communities through financial inclusion,' Ocampo said.

From a single-product bank focused on teachers' loans, of which CitySavings is the market leader, the thrift-banking arm of Aboitiz-led Union Bank of the Philippines continues to trail blaze as it celebrates its achievement of a P100 billion-loan portfolio.

As of end-August, CitySavings hit a net income of P2.1 billion on the back of a 31-percent jump in interest income. This translated to a return on equity (ROE) of 16.2 percent.

The bank remains steadfast in its commitment to creating innovative solutions to deliver the best customer experience through its digital channels.

The Loan Ranger Mobile (LRM) app allows teacher-clients to view their account balances in real-time and apply for a reloan anytime, anywhere. While CitySavings' chatbot, Talk to Maria offers a convenient 24/7 inquiry service and a seamless new loan application process.

Through UnionBank, CitySavings also rolled out Bank-on-Wheels to make banking services more accessible.

CitySavings president Manuel Santiago Jr. said the bank has managed to do well as its journey through the years has brought many opportunities and challenges.

'In 2022, the bank delivered above-target financial performance which we, at the CitySavings team, are immensely proud of. This milestone of achieving a P100-billion loan portfolio is a solid testament that we are on our way to becoming the leading mass market bank in the Philippines' Santiago said.

CitySavings provides a wide range of mass market financial products and services, such as salary loans to public and private school teachers, pension loans to the pensioners of the Government Service Insurance System and Social Security System, motorcycle loans, government salary loans, salary loans for the personnel of the Armed Forces of the Philippines and Bureau of Fire Protection as well as traditional deposit products.

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