Citystate Savings Bank

Bank in the Philippines

This article does not cite any sources. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.
Find sources: "Citystate Savings Bank" – news · newspapers · books · scholar · JSTOR (September 2021) (Learn how and when to remove this message)

|

Not to be confused with CitySavings.

Citystate Savings Bank

A Citystate Savings Bank branch in Santa Rosa, Laguna

Company type| Public

Traded as

| PSE: CSB
Industry| Financial services and Insurance
Founded| August 7, 1997; 27 years ago (1997-08-07)
Headquarters|

Pasig (Citystate Centre)

Philippines

Number of locations

| 24 branches

Key people

* D. Alfred A. Cabangon (Chairman)
* Alfonso G. Siy (Vice Chairman)
* Benjamin V. Ramos (President and CEO)

Products| Retail banking, Commercial banking, Insurance

Number of employees

| 276 (2009)
Parent| ALC Group of Companies
Website| www.citystatesavings.com

Citystate Savings Bank is a Filipino publicly listed thrift bank listed on the Philippine Stock Exchange. 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 in 1997.

City State offers banking services, such as deposit products and services, cash management, onsite/offsite ATM facilities, corporate and retail banking, and treasury services. The bank caters to the needs of corporate, middle market and retail clients.

As of 2009[update], the bank operated a total of 24 branches nationwide and employed 276 employees. As of December 27, 2010, Citystate has a total market capitalization of P2.03 billion and share price of P28.00.

## History

[edit]

Citystate Savings Bank started its banking operations a day after the Monetary Board of Bangko Sentral ng Pilipinas approved its thrift bank license on August 7, 1997. 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 in terms of setting up more branches complemented with the development of new products and enhanced services, the bank ventured into a stock rights offering of 22 million which increased its capitalization to P670 million to P450 million.

In November 2006, Citystate Bank obtained its Trust and Foreign Currency Deposit license from the Bangko Sentral ng Pilipinas to accept dollar and other foreign currency denominated deposits and manages funds, securities, and properties.

## Products and services

[edit]

For its credit and financing business, City State accepts jewelry for instant cash loan. It also offers other lending activities of servicing commercial loans, real estate and development loans, auto-financing, salary loan, agricultural loans, and others.

City State 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

[edit]

As of 2010[update], 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 was a result of 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

[edit]

## External links

[edit]

* Banks portal

* Official website
* Media related to Citystate Savings Bank at Wikimedia Commons
* City State Savings Bank 3RD quarter company report[permanent dead link‍]

* v
* t
* e

Banks in the Philippines

Bangko Sentral ng Pilipinas

Universal banks|

* Asia United Bank
* BDO
* BPI
* Chinabank
* EastWest Bank
* Metrobank
* PNB
* Philtrust
* RCBC
* Security Bank
* UnionBank

Government banks|

* Al-Amanah Islamic Investment Bank of the Philippines
* DBP
* Landbank
* OFB

Commercial banks|

* Bank of Commerce
* Chinatrust
* HSBC
* Maybank
* PBCom
* Standard Chartered
* Veterans Bank

Thrift banks|

* BPI Direct Savings Bank
* China Bank Savings
* CitySavings
* Citystate
* PBB
* PSBank
* Queenbank
* Security Bank Savings

Digital banks|

* CIMB Bank
* GoTyme Bank
* ING Philippines
* Maya Bank
* Tonik

Other banks|

* Cooperative banks
* Rural banks

Defunct|

* Allied Bank (merged with PNB)
* Banco Filipino
* Citibank (merged with UnionBank)
* Equitable PCI Bank (merged with BDO)
* Exportbank (merged with UnionBank)
* International Exchange Bank (merged with UnionBank)
* Plantersbank (merged with Chinabank)
* Premiere Development Bank (merged with Security Bank)
* RBank (merged with BPI)
* UCPB (merged with Landbank)

*[v]: View this template
*[t]: Discuss this template
*[e]: Edit this template