China Bank Savings opens more branches in Savemore stores

MANILA, Philippines - China Bank Savings (CBS), the thrift unit of the SM Group’s China Banking Corp., has increased its branch network to 46 as it opened three new mini-branches in different Savemore outlets.

CBS president Alberto Emilio Ramos said the new mini-branches CBS Jackman, CBS Nova Plaza and CBS Avenida – brought the savings bank’s Savemore in-store branches to seven.

These mini-branches are open daily, from 10 a.m. to 7 p.m., providing greater convenience and accessibility to customers. 

Savemore is a chain of neighborhood grocery stores under the SM Food Retail Group. Savemore outlets are strategically located outside SM malls to bring the SM shopping experience closer to where shoppers live and work. 

CBS Jackman is at the lower ground floor of Jackman Plaza in EDSA-Munoz, Quezon City; CBS Novaliches Plaza Mall is along Quirino Highway, corner Ramirez St., Novaliches Proper, Quezon City; and CBS Avenida is at 665 Rizal Ave., Jennet & Lord Theater, Sta. Cruz, Manila. 

With longer banking hours, highly accessible locations, complete range of services, full complement of e-banking facilities, and a truly “Madaling kausap” vibe, these mini branches are vital to the savings bank’s branch network expansion strategy, Ramos said.

“Our mini-branches allow us to cut operating costs while remaining competitive and very accessible to customers,” he said.

In May and July, CBS opened its first batch of mini branches in Savemore. These include CBS Araneta Center COD, Anonas, Pedro Gil and Nepa Q-Mart. It also opened a mini-branch at the Fil Oil gas station in Tanauan, Batangas.

CBS is looking at 16 full-service mini-branches this year in Savemore and at select SM Hypermarket outlets. In the pipeline are mini-branches in Taft-Masagana in Manila, Acacia Estates in Taguig City, Mezza in Sta. Mesa, Nagtahan in Manila, Camarin in Kalookan City and Visayas Avenue in Quezon City (Savemore); and Adriatico in Manila and FTI in Taguig City (SM Hypermarket).

Aside from the mini-branches, the savings bank will also be opening 10 traditional branches and will be renaming and converting 15 acquired Unity Bank branches in the last quarter of the year.