CITY Savings Bank (CitySavings), the thrift bank arm of Union Bank of the Philippines, has bagged another international recognition as the Philippines’ fastest growing savings bank at the 2022 International Business Magazine Awards.

The Dubai, UAE-based publication recognized CitySavings for its excellent performance and drive for growth amidst the business challenges. “City Savings Bank from the Philippines is one of those few global banking brands that have clocked in a promising figure in their financial sheets after taking on the full onslaught of the pandemic and the subsequent economic distress,” International Business Magazine editor Ujal Nair said.

The bank’s latest financial report gave the publication a clear picture of this year’s winner among all the nominated banks. Nair noted, “We commend the amount of dedication and commitment made by the staff and its leaders.”

Fresh from its corporate DNA refresh, CitySavings has been rapidly expanding its loan portfolio beyond its traditional client base for teachers’ salary loans. “We are honored to receive this award from the International Business Magazine. This validates our continuous effort to grow CitySavings and become the leading mass market bank in the Philippines,” bank president and chief executive officer Lorenzo Ocampo said.

“We thank our dear clients for the trust and support they have given. I also congratulate our team members and team leaders for upholding our values of integrity, magis, and ubuntu,” he said.

The International Business Magazine Awards was established in 2018 to honor the best in class achievements of global leaders and organizations in the international business, and finance arena across the globe, from the Middle East and Africa to the Americas, Asia and Europe. (from PR)