City Savings Bank, commonly known as CitySavings, is a thrift bank subsidiary of

Union Bank of the Philippines The Union Bank of the Philippines, Inc., more commonly known as UnionBank, is one of the universal banks in the Philippines and the ninth largest bank in the country by assets. UnionBank is a joint consortium among the Aboitiz Group, Insular ...

and established in 1965, founded in

Cebu City Cebu City, officially the City of Cebu ( ceb, Dakbayan sa Sugbo; fil, Lungsod ng Cebu; hil, Dakbanwa sang Sugbo), is a 1st class Cities of the Philippines#Legal classification, highly urbanized city in the Central Visayas Regions of the P ...

and also member of the Aboitiz Group of Companies. City Savings is regulated by the Bangko Sentral ng Pilipinas. Its corporate office is located at the

UnionBank Plaza UnionBank Plaza is an office skyscraper located in Pasig, Philippines. It rises 206 metres (676 feet) from ground level to roof, and is currently the tallest complete building in Pasig, and the 14th-tallest building in the country and Met ...

, Meralco Avenue corner Sapphire and Onyx Streets,

Ortigas Center Ortigas Center is a central business district located within the joint boundaries of Pasig, Mandaluyong and Quezon City, within the Metro Manila region in the Philippines. With an area of more than , it is Metro Manila's second most important bu ...

Pasig Pasig, officially the City of Pasig ( fil, Lungsod ng Pasig), is a 1st class highly urbanized city in the National Capital Region of the Philippines. According to the 2020 census, it has a population of 803,159 people. It is located along the ...

Metro Manila Metropolitan Manila (often shortened as Metro Manila; fil, Kalakhang Maynila), officially the National Capital Region (NCR; fil, link=no, Pambansang Punong Rehiyon), is the capital region, seat of government and one of three List of metrop ...

History

CitySavings was incorporated by Don Ramon Aboitiz and Teotimo Abellana in 1965 at

Philippines The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...

as Cebu City Savings and Loan Association (CCSLA). After 11 years, the bank expanded to the nearby city of

Tagbilaran Tagbilaran, officially the City of Tagbilaran ( ceb, Dakbayan sa Tagbilaran), is a 3rd class component city and capital of the province of Bohol, Philippines. According to the 2020 census, it has a population of 104,976 people. Encompassing a la ...

Bohol Bohol (), officially the Province of Bohol ( ceb, Lalawigan sa Bohol; tl, Lalawigan ng Bohol), is an island province of the Philippines located in the Central Visayas Regions of the Philippines, region, consisting of the island itself and 75 m ...

. In 2013, City Savings was acquired by UnionBank and became its subsidiary. They then expanded their network in

Cagayan Valley Cagayan Valley ( ilo, Tanap ti Cagayan; fil, Lambak ng Cagayan), is an administrative region in the Philippines, located in the northeastern section of Luzon Island. It is composed of five Philippine provinces: Batanes, Cagayan, Isabela, Nue ...

and opened a branch in

Tuguegarao Tuguegarao ( or ), officially the City of Tuguegarao ( ibg, Siyudad nat Tugegaraw; itv, Siyudad yo Tugegaraw; ilo, Siudad ti Tuguegarao; fil, Lungsod ng Tuguegarao ), is a 3rd class Cities of the Philippines#Legal classification, component ci ...

Cagayan Cagayan ( ), officially the Province of Cagayan ( ilo, Probinsia ti Cagayan; ibg, Provinsiya na Cagayan; itv, Provinsiya ya Cagayan; fil, Lalawigan ng Cagayan), is a Provinces of the Philippines, province in the Philippines located in the C ...

. In June 2018, UnionBank's subsidiary City Savings Bank acquired Philippine Resources Savings Bank (PR Savings) from the ROPALI Group, with City Savings Bank as the surviving entity of the said merger. The merger officially closed in March 2019, All PR Savings Bank branches completed integration into the City Savings Bank network, increasing the bank's number of branches to 217, As a result, City Savings Bank became the 4th largest thrift bank in the Philippines in terms of assets. and soon will be the 3rd largest Thrift Bank after BPI Family Savings Bank will be merged with BPI in early-2022. In January 2021, City Savings Bank acquired 70% majority stake of Batangas-based thrift bank Bangko Kabayan, making Bangko Kabayan became an affiliate of City Savings Bank.

Ownerships

* Bangko Kabayan * PR Savings Bank * Petnet

Partners

Lalamove Lalamove is an Asia-based technology company that provides delivery services by connecting users with delivery drivers on its mobile and web apps. The company operates in cities across Asia and Latin America connecting over 7 million users with ...

Department of Education (Philippines) The Department of Education (abbreviated as DepEd; fil, Kagawaran ng Edukasyon) is the executive department of the Philippine government responsible for ensuring access to, promoting equity in, and improving the quality of basic education. It ...

References

Banks of the Philippines Banks established in 1965 Companies based in Cebu City {{Philippines-company-stub

History

Ownerships

Partners

See also

References