MANILA, Philippines — The Chamber of Thrift Banks, the umbrella organization of the country’s thrift banks, just celebrated its 38th year through its annual convention last week, highlighting the major role it played in helping the economy recover from the recent global financial meltdown.
CTB President Patrick D. Cheng, also President & CEO of HSBC Savings Bank, said that their organization has further strengthened its economic base by enhancing lending activity, deposit generation, total assets, and branch networks.
Cheng noted that 2011 was a banner year for CTB.
“We have become a bigger organization with 1,419-strong thrift bank offices from 1,333 a year ago,” Cheng said, adding that with this growth, the CTB can now reach out to more consumers and entrepreneurs for their long-term credit requirements.
“This is our way in helping sustain our country’s economic growth with their continued confidence in banks.”
Other members of the Chamber of Thrift Banks’ Board of Trustees are: 2nd Vice President D. Alfred A. Cabangon (also Chairman/President of Citystate Savings Bank); Secretary Raul Marcelo DL. Dimayuga (also President of BPI Direct Savings Bank); Treasurer Rommel S. Latinazo (also President, RCBC Savings Bank); Auditor Lolita A. Simpao (also President, Bataan Savings & Loan Bank); Trustee and Immediate Past President Pascual M. Garcia III (also President, Philippine Savings Bank); Trustee Jose Teodoro K. Limcaoco (also President, BPI Family Savings Bank); Trustee Argeo J. Melisimo (also President, First Consolidated Bank); Trustee Jose Ma. Lopez-Vito III (also Chairman, Isla Bank); Trustee George Martirez (also President, Malayan Savings Bank); Trustee Eric A. Mondragon (also President, Palawan Development Bank); Trustee AMB. Alfredo M. Yao (also Chairman Emeritus, Philippine Business Bank); Trustee Rogelio M. Florete (also President, Queen City Development Bank); Trustee Ma. Consorcia L. Tamayo (also Director, University Savings Bank); Trustee Gregorio B. Anonas (also President/CEO of Wealth Development Bank); Executive Director Suzanne I Felix; and Consultant to the Board Benjamin J. Yambao.
In a speech during the CTB’s annual convention, BSP Governor Amando Tetangco Jr. noted that the resources of thrift banks have indeed been growing due to increasing deposits from the public.
Tetangco stressed that with this encouraging development, the thrift banking sector has the ability to further increase their lending, especially to more deserving Micro, Small and Medium Entreprises (MSMEs).
He pointed out that MSMEs play an essential role in economic development, as they account for the bulk of employment in the country.
The umbrella organization of the country’s thrift banks was organized in 1974 as the Chamber of Savings and Development Banks, and was then composed of 10 savings banks, 28 private development banks, and 44 savings and loan associations. In 1998, the group re-organized itself into an integrated Chamber of Thrift Banks.
At present, the CTB continues to pursue its mandate of coordinating the efforts of its member thrift banks as they contribute to the country’s economic development by servicing the needs of the household — both in the gathering and lending of funds — and in providing medium and long-term credit to Filipino MSMEs.
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