Citystate Savings Bank or CSBank is a Filipino publicly listed thrift bank listed on the

Philippine Stock Exchange The Philippine Stock Exchange, Inc. (; ) is the national stock exchange of the Philippines. The exchange was created in 1992 from the merger of the Manila Stock Exchange and the Makati Stock Exchange. Including previous forms, the exchange has ...

. The bank was a partnership between a group of Filipino businessmen led by Ambassador Antonio Cabangon Chua and a Singaporean investment holding company. It was granted the thrift bank license by the Monetary Board of

Bangko Sentral ng Pilipinas The Bangko Sentral ng Pilipinas (; commonly abbreviated as BSP in both Filipino and English) is the central bank of the Philippines. It was established on January 3, 1949, and then re-established on July 3, 1993 pursuant to the provision of Re ...

in 1997. It is part of the ALC Group of Companies owned by the Cabangon family. CSBank offers

banking services Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ba ...

, such as deposit products and services, cash management, onsite/offsite ATM facilities, corporate and

retail banking Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ...

, and treasury services. The bank caters to the needs of corporate, middle market and retail clients. , the bank operated 24 branches nationwide and employed 276 employees. As of December 27, 2010, Citystate has a total market capitalization of P2.03 billion and a share price of P28.00. (to be updated for 2024).

History

CSBank started its banking operations on August 7, 1997, a day after the Monetary Board of Bangko Sentral ng Pilipinas approved its thrift bank license. On January 2, 2002, the company Went public and was formally listed in the Philippines Stock Exchange under the stock symbol CSB. To sustain its expansion by setting up more branches and developing new products and enhanced services, the bank ventured into a stock rights offering of 22 million, increasing its capitalization to P670 million from P450 million. In November 2006, CSBank obtained its Trust and Foreign Currency Deposit license from the

to accept dollar and other foreign currency-denominated deposits and manage funds, securities, and properties. CSBank had grown to 30 branches when it celebrated its 25th Anniversary in August 2022. Since 2020, new professionals have joined the bank to embark on the bank's transformation. In 2023, CSBank opened 4 additional Branch Lite Units increasing its network to 34 branches. It has been improving its products and services and plans to launch a digital banking platform (subject to BSP approval) to enhance the delivery of services and customer experience. The Bank continues to focus on helping the Filipino middle market with its financial requirements including small business loans, consumer loans, and a host of deposit products. It has also engaged with partners to improve its cash management services. /

Products and services

For its credit and financing business, CSBank accepts jewelry for instant cash loans. Its lending business services commercial loans, real estate and development loans, auto-financing, salary loans, and agricultural loans. CSBank is also included in the list of Government Securities Eligible Dealers (GSEDs) and is allowed to participate in the electronic auction of government securities through the Automated Debt Auction Processing System (ADAPS). The Bank also operates foreign currency deposits and performs trust and fiduciary business.

Financial highlights

, City State incurred a net loss of P3.713 million. It was lower by P8.510 million from a year ago. Accumulated net loss after three quarters amounted to P8.24 million as compared to last year’s income of P6.33 million. This resulted from the required loan loss reserves as directed by BSP. Total resources after three quarters netted a loss of P145 million from P2.50 billion to P2.36 billion. This was attributed to the decreases in loans and receivables, cash and, due from other banks, financial assets at Fair Value through profit or loss, and investment properties.

References

External links

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City State Savings Bank 3RD quarter company report
{{Banks of the Philippines Banks of the Philippines Companies listed on the Philippine Stock Exchange Companies based in Pasig