2014 was a banner year marked by several milestones for City Savings Bank (CitySavings). We completed the upgrade of our entire core banking system, aligned with our goal of streamlining processes and achieving efficiencies. To be more meaningful, the latter was coupled with the nationwide roll-out of the “Simply the Best” program, a simplification of the way we do things at the branch level, a manifestation of our desire to delight and engage our customers.
We achieved our goal of opening another 15 branches, expanding our network to 65, a testament of our unrelenting pursuit to reach out and help more people of moderate means.
We surpassed the P1 billion-profit mark a year ahead of plan, a by-product of the collaborative effort of every CitySavings banker.
Such achievement is not entirely due to the contribution of the current management. Rather, the foundation laid by CitySavings recent past leaders, notably Mikel A. Aboitiz, Agnes A. Lacson, and William W. Paradies, among others, were major factors in driving CitySavings toward greater heights and shaping the Bank’s unique culture.
In the year ahead, sustaining our momentum is imperative despite the threats of existing and upcoming competitors, in addition to the possible changes in governing business rules.
We will continue with our expansion plans to bring the total branch network to 100 and create capacity to take advantage of existing and emerging opportunities in the civil servant market segment. We will realign expertise to increase focus, optimize performance, and improve resiliency by establishing our Central Processing Services, reorganizing Operations and Marketing, forming a Business Process Management unit and collaborating with our parent, UnionBank, in order to grow and protect our business. We will strengthen our Corporate Social Responsibility programs to benefit the public school teachers and the communities we serve.
As we embark on another year, our philosophy of “Simple is Good” shall serve as our compass in navigating the ever-changing operating environment. Notwithstanding the challenges in the horizon, we will remain steadfast in delivering exceptional performance for all our stakeholders.