The Bangko Sentral ng Pilipinas (BSP) has given the thumbs up to Citystate Savings Bank (CSBank) to put up four branch-lite units (BLUs).
CSBank, owned by heirs of the late bilyonaryo Antonio Cabangon-Chua, plans to put up a branch in Naga City, Camarines Sur; Baguio City; Cabanatuan, Nueva Ecija; and San Fernando City, Pampanga.
“These branch-Lite units will enable us to mobilize more savings and extend more consumer and business loans to spur the growth of these local economies,” CSBank branch network chief Joel C. Garcia said.
The branch expansion is expected to broaden CSBank’s market focused on small and medium enterprises and mid-market depositors.
Among CSBank’s credit solutions are APDS Teacher’s Loans, SmallBiz Loans, Home Loans, and Auto Loans, including Eurocycle Loans.
The addition of more branches will complement CSB’s digital banking transformation in 2023.
“This is part of our ‘phygital’ strategy of a seamless customer experience across various brick-and-mortar and digital touchpoints, including mobile, online and agency banking,” said Garcia.