Newly inducted CBC President Hermelo Y. Parot said the club will soon adopt the Standardized Appraisal and Valuation of Real Estate (Savore), that will be determined by each bank's appraiser.
"The appraisers from different CBC member banks will set down and establish a standard so that we can uniformly adopt it in our transactions," Parot said.
Currently, there is no standard appraising unit that is largely determined by the market, the government appraising system on the other hand, is different from the banking industry's standard, he said.
CBC has 45 member banks in Metro Cebu, Parot said aside from the Savore project, the organization will also hasten the improvement of the industry's Automated Credit Checking System, and that stronger networking and cooperation with member banks are expected.
This year, CBC will be buying a new server to update and improve its database in the credit checking system, to avoid problems with borrowers that have delinquent.
Parot, who is the vice president for group sales and retail banking sector in Visayas for Philippine National Bank (PNB), was recently inducted as new president of CBC, during the club's 43rd Induction Ceremony held at the Cebu City Sports Club recently.
Another project that is going to be implemented by the Parot's leadership in CBC is the exchanging of excess cash between banks.
Traditionally, excess cash of banks are remitted to the Bangko Sentral ng Pilipinas (BSP) immediately after a bank closes its operations for the day.
This project, according to Parot will give BSP a break, and banks will be helping BSP to unload some of the work, at the same time, promote immediate and easier flow of excess cash requirement, when it is done bank to bank.
Every bank has to identify its partner bank of the excess cash exchange program. PNB for instance, is partnering with its sister-bank Allied Banking Corporation.
"BSP is more of regulatory, the distribution of cash needed by a bank in daily, should be done by ourselves already, we would like to unload BSP of their work, this is being done in Manila," he said.
Currently, the 45 member banks of CBC are doing a test-run on this particular initiative, hopefully this will be formalized in the next few months, Parot said.
Parot was inducted by PNB senior vice president Rafael Z. Sison, Jr.