By Madelaine B. Miraflor
This year, a Manila-based rural bank intends to grow the same pace as other big banks in the country and like them, is braving the competitive banking sector for more customers.
With the Bangko Sentral ng Pilipinas (BSP) approval of its merger with 1st Macro Bank, Country Builders Bank (CBB) now has the largest branch network in the Greater Metro Manila area of any stand alone thrift or rural bank.
This is the second time in five years that CBB has consolidated with another bank to expand both its branch network, client base, and services.
What is now CBB began with the merging of Builders Bank and Country Rural Bank of Taguig, Inc. in 2012.
“For Country Builders Bank, the next challenge is to expand its branch network and implement technology driven solutions so as to continue its advocacy of bringing best banking services to the many unbanked communities within Metro Manila and surrounding provincial areas,” a statement showed.
With the additional 10 branch merger incentive, CBB has 46 branches, of which 13 are restricted Metro Manila branches, 16 are unrestricted Metro Manila branches and 17 are in the immediate peripheral provincial areas.
CBB is a rural bank covering the Greater Metro Manila and the surrounding peripheral provinces, Cavite, Laguna Bulacan and Rizal.
CBB caters to a wide and varied client base in the communities it serves. The deposit base is significantly large and deposits are generated from thousands of small depositors.
CBB’s urban and provincial branch network delivers organized banking financial services, bills payments, remittance services, micro-insurance and ATM facilities into communities where modern banking services were previously unavailable. As of now, the Bank has a large and diverse deposit base with no major single or group depositors.
CBB is also accredited with the Small Business Corporation Guarantee Fund and the Agricultural Guarantee Fund.