CitySavings’ motorcycle lending boosts Filipino riders, workers

Union Bank of the Philippines subsidiary City Savings Bank recently hosted the Motor Mo'to Dealers' Night 2022, an event to celebrate CitySavings' growth into becoming one of the largest motorcycle loan lenders in the country. The event was held 23 September at Revel at The Palace in BGC, Taguig.

CitySavings, one of the largest thrift banks in the country, provides Filipinos easy access to financial assistance, as well as a broad range of simple yet effective banking solutions. The bank is also poised to become the Philippines' leading digital mass market banks.

The bank kicked off its motorcycle lending business in 2019 after successfully merging with the Philippine Resources Savings Banking Corporation.

At the height of the pandemic, CitySavings saw a huge demand for motorcycles as a more convenient and affordable form of transportation. It responded by offering a 0-percent interest installment product on pre-loved motorcycle units exclusively to education and medical frontliners.

CitySavings also established the "Motor Mo'to" program, partnering with numerous motorcycle dealers across the country and enabling riders to have easy access to units through affordable loans and flexible payment options. Additionally, the bank began its e-trike program during the pandemic, providing traditional tricycle drivers with a more lucrative and sustainable livelihood.

As a result, CitySavings is now one of the most competitive lenders for motorcycle loans in the Philippines.

For the Motor Mo'to Dealers' Night 2022, CitySavings veered away from the conventional awards setup, choosing instead to honor the motorcycle dealer partners that had made its success possible by hosting a night of camaraderie and revelry dedicated to them.

"(This event is) really all about us saying thank you to you, our partners," CitySavings president and CEO Larry Ocampo said. "Whenever we meet with you one on one, we really tell you how grateful we are for your partnership. Tonight is really an expression of that."

"One of the objectives of our motorcycle loan programs is to be able to help uplift the lives of the market that we serve," said SEVP-chief operating officer Manuel "Chut" Santiago Jr. "When we entered this business, it was really a challenge for us because we needed dealers that would help us achieve our goals. We are so grateful to you for giving us the opportunity to fulfill this objective, and at the same time, we are also able to contribute to the growth of your own businesses and serve your customers through you. That's why we call you partners."

Also gracing the Motor Mo'to Dealers' Night 2022 were UnionBank President and CEO and CitySavings Vice Chairman Edwin Bautista, Board of Directors Jose Julio and Maria Noemi Azura, EVP-Motorcycle Loans Business Head Ret. Adm. Feliciano "Felix" Angue, SVP-Marketing Head Paula Katerina Joson, VP-Dealer and Internal Stakeholder Management Head for Motorcycle Business Ruelito Aquino, and VP-Institutional and Retail Sales Head for Motorcycle Business Eric Valdez.