The right size for you
Assuring the Filipino of financial stability and educating the people in 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, it does not matter how small an enterprise is, but how big it 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, forging a solid partnership between a team of Filipino businessmen belonging to the Fortune Insurance Group and a prominent Singaporean investment holding company, the Citystate Management Group Holdings Pte Ltd of Singapore. 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 28 branches strategically located within Metro Manila and provincial areas: 21 in Metro Manila and seven provincial branches in Meycauayan, Baliuag, Plaridel, Dagupan, Batangas Cit, Cebu and Urdaneta.
The bank is embarking on an active ATM rollout program in places with high pedestrian traffic, such as malls and nearby transport terminals. This allows more clients to experience maximum convenience through its premium products and services. In March 2004, Citystate Savings Bank obtained approval from the Bangko Sentral to engage in quasi-banking services. As such, the bank can issue various debt instruments and develop new products and loan programs.
In July 2005, Citystate Savings Bank was accredited by the Bureau of Treasury (BTr) as government securities eligible dealer (GSED). With the license, Citystate Savings Bank can 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 Savings Bank successfully ventured into a stock rights offer of P22 Million common shares with a P10.00 par value per share. With the stock rights offer, the bank increased its capitalization to P670 Million from P450 Million.
In November 2006, Citystate Savings Bank was granted a license to operate Foreign Currency Deposit Unit (FCDU) and Trust operation by the BSP. This authorizes the bank to accept US dollar deposits and manage funds, securities and properties for the benefit of its clients.
Through the years, Citystate Savings Bank has won recognition from prestigious awards-giving bodies, including the 2004 Most Outstanding Savings Bank Award by the Philippine Marketing Excellence Awards Committee; 2003 – 2005 Top Savings Bank by the National Consumers Affairs Foundation; 2004 – 2005 Most Outstanding Savings Bank by the Consumers Union of the Philippines; 2005 Top Savings Bank by the Brand Champions Governing Council; 2002 Highest ATM Transaction Approval and 2005 – 2009 Highest Host Availability Rate Award by Bancnet.