City Savings Bank (CitySavings) was awarded as one of the Most Valuable Development Partner of state-owned Small Business Corporation (SB Corp) at Makati Shangri-La, Manila last July 28 during their 26th year anniversary and 2017 Gawad MSME awarding ceremonies.
CitySavings received the award from SB Corp President and CEO Bartholomew Brillo Reynes for its instrumental role in achieving the corporation’s development goals and financial targets last year through its Mandatory Lending Compliance Program. The bank was represented by FVP – Chief Auditor Anna Bella Gatbonton.
SB Corp confers a distinguished partner in development based on the following premise:
Aside from CitySavings, other awardees in this category were Bangkok Bank Public Co. Ltd., Cantillan Bank, Inc., Card SME Bank, Inc., Card Bank, Inc., and Mizuho Bank, Ltd. (Manila Branch).
SB Corp is the result of the merger between the Small Business Guarantee and Finance Corporation (SBGFC) and the Guarantee Fund for SMEs (GFSME), under Executive Order No. 98 issued in November 2001. The corporation is under the policy program and administrative supervision of the Small and Medium Enterprise Development (SMED) Council of the Department of Trade and Industry (DTI), the primary agency responsible for small and medium enterprises in the country. It remains as the National Government’s third largest provider of SME financing, with a lending portfolio of over P2.5 Billion. There are over 2,937 clients, 143 active partner financial institutions. The Corporation has 5 full service area offices, and 18 desk offices strategically located across the country. (Source: www.sbgfc.org.ph)