CitySavings celebrates growth as leading motorcycle lender in the Philippines
Union Bank of the Philippines (UnionBank) subsidiary City Savings Bank (CitySavings) recently hosted Motor Mo’to Dealers’ Night 2022, a celebratory event to honor its exceptional growth to become one of the largest motorcycle loan lenders in the country. It was held last September 23 at Revel at The Palace, Bonifacio Global City, Taguig.
Leading the CitySavings Team were UnionBank President and CEO and CitySavings Vice Chairman Edwin Bautista, Board of Directors Jose Julio and Maria Noemi Azura, President and CEO Lorenzo “Larry” Ocampo, SEVP – Chief Operating Officer Manuel “Chut” Santiago, Jr., EVP – Motorcycle Loans Business Head Ret. Adm. Feliciano “Felix” Angue, SVP – Marketing Head Paula Katerina Joson, VP – Dealer and Internal Stakeholder Management Head for Motorcycle Business Ruelito Aquino and VP – Institutional and Retail Sales Head for Motorcycle Business Eric Valdez.
As one of the largest thrift banks in the country, the CitySavings provides Filipinos easy access to financial assistance, as well as a broad range of simple yet effective banking solutions. The Bank is also poised to become the Philippines’ leading digital mass market bank.
The organization kicked off its motorcycle lending business in 2019 after successfully merging with the Philippine Resources Savings Banking Corporation (PR Savings Bank). The years that followed showed CitySavings’ significant growth in this industry.
At the height of the pandemic, CitySavings recognized that there was a huge demand for motorcycles as a more convenient and affordable form of transportation. The Bank responded to this need by offering a 0% interest installment product on pre-loved motorcycle units exclusively for education and medical frontliners. CitySavings also established the “Motor Mo’to” program, partnering with numerous motorcycle dealers across the country and enabling riders to have easy access to units through affordable loans and flexible payment options. Additionally, the Bank began its e-trike program during the height of the pandemic, providing traditional tricycle drivers with a more lucrative and sustainable livelihood.
As a result, CitySavings is now one of the most competitive lenders for motorcycle loans in the Philippines.
For the Motor Mo’to Dealers’ Night 2022, CitySavings veered away from the conventional awards setup, choosing instead to celebrate this remarkable achievement and honor the motorcycle dealer partners that made its success possible by hosting a night of camaraderie and revelry.
“[This event is] really all about us saying thank you to you, our partners,” CitySavings President and CEO Larry Ocampo said, addressing guests. “Whenever we meet with you one-on-one, we really tell you how grateful we are for your partnership. Tonight is really an expression of that.”
“One of the objectives of our motorcycle loan programs is to be able to help uplift the lives of the market that we serve,” said SEVP – Chief Operating Officer Chut Santiago. “When we entered this business, it was really a challenge for us because we needed dealers that would help us achieve our goals. We are so grateful to you for giving us the opportunity to fulfill this objective, and at the same time, we are also able to contribute to the growth of your own businesses and serve your customers through you. That’s why we call you partners.” #