CBS China Bank Savings : Deposits
Humble beginnings China Bank Savings roots can be traced to China Banking Corporations acquisition of Manila Bank in 2007. The newly established thrift bank first focused on deposits, consumer loans and trust services. From a lone branch in Ayala Avenue, China Bank Savings was able to branch out to six locations in just one year. The expansion allowed them to double their assets by 55.6% in 2009 and introduce three new productsthe Easi-Earn High Five, a five-year time deposit account that earns interest tax free; Easi-Save for Kids for little savers aged 12; and the Easi-Checking Diary, a checking account with a passbook for easier monitoring. In 2010, China Bank Savings opened ten more branches, which increased the deposit level by 38 percent. Also launched were Easi-Drivin Auto Loan and Easi-Save Basic, a unique ATM service that lets clients instantly get their ATM cards as soon as they open an account with zero initial and maintaining balance. The number of account holders increased by 93% and deposits by a record high of 99 percent.