China Bank Savings (CBS) is expanding its home financing business through partnerships with three property developers, targeting growing residential markets in CALABARZON and Central Visayas as it seeks to widen access to homeownership.
The thrift bank formalized agreements in October with Primeworld Land Holdings Inc., Raemulan Lands Inc. and Ciudades Development Corp., allowing prospective buyers of their projects to tap CBS home financing.
CBS said the developers have projects in regions that have posted some of the strongest growth in residential building permits by floor area this year, based on Philippine Statistics Authority data.
The tie-ups broaden the range of housing projects available to CBS borrowers while giving prospective buyers access to financing tailored to their home purchases.
“Economic challenges make expanding access to homeownership even more important,” CBS Consumer Lending Group Head Kristine Michele C. Broadhurst said.
“We have dedicated teams on the ground building stronger relationships with developer partners to provide clients with accessible and responsive home financing solutions,” she added.
Broadhurst said expanding the developer network would give families more choices in both housing projects and financing as they weigh homeownership amid tighter household budgets.
CBS President James Christian T. Dee said the partnerships form part of the bank’s strategy to grow its housing finance business beyond Metro Manila.
“The challenge is ensuring that the right types of housing developments are matched with the financing solutions Filipino families need, wherever they may be,” Dee said.
The latest agreements bring more residential developments into CBS’ financing network as the bank seeks to capture demand in regional housing markets.
CBS said it expects to announce additional developer partnerships as it continues expanding its home lending business nationwide.
The bank has 190 branches, 121 lending offices and branch-lite units, and 306 ATMs, supported by digitally enabled customer touchpoints.
