THE Metro Cebu Public Savings Bank (MCPSB) celebrates its 41st anniversary in the banking industry.
MCPSB traces its humble beginnings from the Talisay Public Savings and Loan Association Inc. (TPSLA), which officially operated on Feb. 6, 1980. On April 22, 1986, TPSLA merged with the Rural Bank of Mactan and the Rural Bank of Cordova with TPSLA as the surviving institution.
The bank amended its charter later on and changed its name to Metro Cebu Public Savings Bank. MCPSB maintained its first branch inTabunok, Talisay City, a branch in Lapu-Lapu City and in 1991, a new branch and corporate office along N. Bacalso Ave., Cebu City—a banking network strategically placed in three cities.
With the able leadership of its management led by its chairman retired Justice Isaias Dicdican and president Ruel Romarate, the bank posted a gross income of P30 million in 2020 even with the difficulties brought about by the Covid-19 pandemic in the business sector. Like everyone else, MCPSB suffered a reduction in its income as compared to prior years, but was able to post profitable results of operations.
In a statement, Romarate said the bank is looking to sustain its income stream and will continue to surmount the effects of the current crisis. He added that the bank will launch its new system. It will enable MCPSB to cater to new products such as online banking and National Retail Payment System, which in effect will boost its role in the country’s financial inclusion program. Romarate also reiterated the importance of giving all of its depositors and loan clients the best thrift-banking experience.
As of Dec. 30, 2020, MCPSB has 6,453 depositors and a total loan portfolio of P333 million. The Bank offers regular savings account, savings accounts for kids and time deposits.
Loan products include personal, housing, auto and business loans. SPONSORED CONTENT