Citystate Savings Bank Inc 2024 AR2
The report highlights Citystate Savings Bank's (CSBank) financial turnaround in 2024, achieving a net income of PHP 966,816 and reversing previous deficits. Key drivers included a 21.38% increase in interest income from loans, particularly driven by the APDS Teacher's Loan, and a 13.13% growth in total assets to PHP 6.395 billion. On the sustainability front, the bank advanced its digital transformation, supported the Public Utility Vehicle Modernization Program through transport cooperative loans, and actively participated in community initiatives like Brigada Eskwela and Paleng-QRPh Plus. CSBank also welcomed a strategic investment from Hong Kong-based CSC Holdings Ltd., acquiring a 26.8% stake to bolster its digital banking capabilities.
Company: Citystate Savings Bank Inc
Sector: Financials
Country: Philippines
Year: 2024
Type: AR2
Pages: 280
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Citystate Savings Bank Inc
Annual Report
The report highlights Citystate Savings Bank's (CSBank) financial turnaround in 2024, achieving a net income of PHP 966,816 and reversing previous deficits. Key drivers included a 21.38% increase in interest income from loans, particularly driven by the APDS Teacher's Loan, and a 13.13% growth in total assets to PHP 6.395 billion. On the sustainability front, the bank advanced its digital transformation, supported the Public Utility Vehicle Modernization Program through transport cooperative loans, and actively participated in community initiatives like Brigada Eskwela and Paleng-QRPh Plus. CSBank also welcomed a strategic investment from Hong Kong-based CSC Holdings Ltd., acquiring a 26.8% stake to bolster its digital banking capabilities.
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Document Details
Report Year
2024
Reporting Period
Jan 1, 2024 - Dec 31, 2024
Fiscal Year
2024
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Reporting Standards
Materiality Assessment
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Emissions
Scope 1:
Scope 2:
Energy Consumption
Renewable Energy
Water Consumption
Workplace Fatalities
Employees