China Bank Savings (CBS) sees BDO Network Bank’s entry into the thrift banking sector as a positive step for financial inclusion and industry stability, signaling potential shifts in the retail banking landscape.
CBS president James Christian T. Dee expressed support for the move, citing the need for more robust players in the thrift banking space to expand access to the unbanked, particularly in remote areas. “Knowing BDO, I won’t be surprised if they grow much faster over the next few years. This is a welcome development for the thrift banking sector,” Dee said.
As the retail banking arm of China Banking Corp., CBS continues to distinguish itself with a strong physical presence, diverging from peers that are downsizing branch networks in favor of digital channels. CBS operates 170 branches, 107 lending centers, and about 250 ATMs nationwide, with plans to open five more branches, primarily in the Visayas and Mindanao, by 3Q or early 4Q.
Chairman Ricardo R. Chua reinforced the bank’s long-term outlook, emphasizing opportunities tied to the country’s youthful, consumption-driven economy. “Having BDO is a welcome development, but it will not derail us from whatever plans we have in growing the bank,” Chua noted.
CBS posted a 23 percent year-on-year jump in 1Q net income to ₱566 million. Total loans rose to ₱143 billion, while deposits hit ₱171 billion—securing CBS the top spot among thrift banks in terms of total deposits in 2024.
With BDO’s entry seen as both complementary and competitive, the move underscores a growing strategic interest in the thrift sector’s untapped market potential.
