Legazpi Savings Bank (LSB), a wholly-owned subsidiary of Bank of the Philippine Islands (BPI), aims to expand its presence outside Bicol region.
LSB president Jerome Minglana said in a round table briefing Tuesday the bank plans to have sales offices in every region, while maintaining its current branch network.
It operates 17 branches and regular branch-lite units (BLUs) with deposit-taking operations and 10 sales offices in 18 provinces in the country.
The bank also maintains 19 ATM terminals which provide the community a convenient way to access their funds 24/7. Clients can also access LSB’s products through over 1,000 BPI and BanKo branches nationwide.
By next year, it plans to have 25 sales offices that can handle loan inquiries and loan processing.
Minglana said the bank’s move to expand also aligned with its commitment to promote financial inclusion through innovative products and services that are designed to empower local communities.
“LSB has always been at the heart of Bicol and nearby provinces, providing accessible and affordable banking solutions to communities that once had no access to financial services. Our mission is to bridge this gap by offering financial products, such as personal loans and deposit accounts, tailored to meet the needs of Filipinos, particularly teachers,” said Minglana.
Established in 1976, LSB has a rich history of serving local communities with personalized financial solutions. The bank officially became part of the BPI Group on Jan. 1, 2024, as a result of the merger between BPI and Robinsons Bank, with BPI as the surviving entity.
LSB focuses on providing more affordable loans to teachers across the country.
“With BPI, we now have the capacity to expand nationwide. We have very aggressive targets. We are hoping to be part of the big three in this business in the next five years,” Minglana said.
LSB also aims to achieve compounded annual growth rate in the double-digits over the next five years, underscoring its dedication to sustained progress and financial inclusion.
