CITYSTATE SAVINGS BANK
The right size for you
Assuring the Filipino of financial stability and educating the people on the principles of wise saving and investment is the corporate goal of Citystate Savings Bank.
It aims to provide financial support for businesses to maximize their full potential for growth. Citystate Savings Bank believes that in business, what matters is how big an enterprise can become. It offers products and services attuned to the financial needs of clients, big or small.
Citystate Savings Bank was registered with the Securities and Exchange Commission (SEC) on May 20, 1997. It was licensed to operate as a thrift bank by the Bangko Sentral ng Pilipinas (BSP) on August 7, 1997. The bank was publicly listed in the Philippine Stock Exchange (PSE) in January 2002.
Citystate Savings Bank established its first branch on Chino Roces Avenue, corner De La Rosa Street , Makati City on August 8, 1997, as a solid partnership between a team of Filipino businessmen belonging to the Fortune Insurance Group and the Citystate Management Group Holdings Pte Ltd of Singapore, a prominent Singaporean investment holding company. Fortune Insurance Group is composed of Fortune Life Insurance Company, Fortune General Insurance Corporation, and Fortune Medicare, Inc., or FortuneCare, a managed care organization.
At present, Citystate Savings Bank has a network of 30 branches strategically located within Metro Manila and provincial areas: 21 in Metro Manila and nine provincial branches at Baliwag, Meycauayan, and Plaridel Bulacan, Cebu City, Dagupan City, Batangas City, Urdaneta City, Puerto Princesa, Palawan and Sta. Rosa City, Laguna.
In March 2004, the Bangko Sentral authorized Citystate Savings Bank to engage in quasi-banking services, such as issuing various debt instruments and developing new products and loan programs. The following year, the Bureau of Treasury (BTr) accredited Citystate Bank as a government securities eligible dealer (GSED), allowing it to participate in electronic auction of government securities with other banks and non-bank financial institutions through the Automated Debt Auction Process System (ADAPS).
In October 2005, Citystate successfully ventured into a stock rights offer of P22 Million common shares with a P10.00 par value per share. The stock rights offer increased the bank’s capitalization to P670 Million from P450 Million.
Granted a license to operate Foreign Currency Deposit Unit (FCDU) and Trust operation by the BSP in November 2006, Citystate Savings Bank is authorized to accept US dollar deposits, manage funds, securities and properties for the benefit of its clients, and offer the following trust products:
- Living Trust
- Escrow Agency
- Securities Safekeeping
- Estate Planning
- Investment Management
- Pre-Need Trust
- Property Administration
- Life Insurance Trust
- Mortgage Trust Indenture
- Employee Benefit Trust / Retirement Fund
Aside from its banking services, loan programs, and Trust products, Citystate Savings Bank also offers jewelry loan with a low interest of only 2% per month and easy payment terms of six to 12 months. Citystate Savings Bank account holders with an average daily balance of P100, 000.00 can also avail of a 1% interest per month for their jewelry loan.
Citystate Savings Bank uses the Finacle System of high-tech Core Banking Solutions from Infosys, a global leader in consulting, information technology (IT) and outsourcing solutions. The system enables Citystate to create a personalized banking experience for its clientele and expand its product offerings in an ever-evolving market.
The bank is undertaking an active ATM rollout program in
places with high pedestrian traffic, such as malls and nearby transport terminals. This allows more clients to avail themselves of the bank’s premium products and services with maximum convenience.