Sun Savings Bank opens branch in Cebu Business Park

 In News

SUN Savings Bank is opening its newest branch inside Cebu Business Park (CBP).

Located at the ground floor of Tower II, Solinea Resort Condominium on Cardinal Rosales Ave., in CBP, this new branch is the sixth banking office of Sun Savings in Cebu.

With this new branch, the bank will be able to offer its savings and time deposits that offer rewarding interest rates to its target market of consumers and small and medium enterprises (SMEs).

The bank currently offers two percent per annum for ATM savings accounts with minimum balance of P200 only. For time deposits of five years and one month, the bank currently offers five percent per annum tax-free with interest payable one year in advance. Furthermore, it can make accessible to residents and professionals in the CBP, its flexible home, auto and salary loans.

Sun Savings has been growing steadily since it opened back in 2011 with its first branch in Talisay City. The bank expanded its business by opening other branches in key strategic areas, such as Fuente Osmena in Cebu City, Mandaue City, Carcar City, Danao City and Cebu City Carbon market.

The bank now has a total network of seven banking offices.

As of Dec. 31, 2019, the bank had grown its assets to a total level of P2.08 billion and its total deposits stood at P1.4 billion. Total capital of the bank was P345 million.

The bank is managed and controlled by veteran professional bankers led by Francisco A. Dizon, former chairman of the board of the PNB. (PR)




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