Legazpi Savings Bank (LSB), a wholly-owned subsidiary of the Bank of the Philippine Islands (BPI), is doubling down on its commitment to financial inclusion with a focus on providing accessible and affordable banking services to underserved communities. As part of BPI’s broader goal of empowering individuals and families across the Philippines, LSB is enhancing its product offerings and expanding its footprint, particularly in the Bicol region and nearby provinces.
Founded in 1976, LSB has long served local communities, and its recent integration into the BPI Group in January 2024 positions the bank to offer even greater support. LSB’s strategic pivot, focusing on personal loans for public school teachers via the Automatic Payroll Deduction System (APDS), has already shown impressive results, with loan releases up 50 percent in 2024.
“We’ve always been at the heart of Bicol and neighboring provinces, providing solutions to areas that once lacked access to financial services,” said Jerome Minglana, LSB president. “By expanding our services, especially to teachers, we aim to help build financial wellness in underserved communities.”
With 17 branches, numerous ATMs, and access to BPI’s network of over 1,000 branches, LSB is broadening its reach. As the bank looks to the future, it targets sustained growth, with an ambitious plan to achieve double-digit compounded annual growth over the next five years, further advancing its goal of financial inclusion.
“Together with BPI’s resources, LSB is uniquely positioned to uplift one community at a time,” Minglana said.
