Jeff Choa, president of Citbank Savings, said the bank has generated a total of P1.5 billion in personal loans and plans to offer other products and services targetted for the mortgage market, small and medium enterprises, auto loans and secured loans in a year.

The Citibank Davao branch is the 26th branch of its network following an aggressive branch renovation program in 2005 and aims to complete the rebranding of the other 10 branches. "We are very bullish on the prospects here," Choa said.

"Our customers and portfolio are growing, while our products are expanding and we’re happy to receive a warm welcome every time we inaugurate a new branch," he added.

Choa attributed the strong growth of the bank’s deposit base to the increasing number of clients and the quality of the product offerings and services.

"We are the only bank that offer 24 by 7 Citiphone service and recently launched our international ATM card that allow depositors to withdraw money through our network abroad," said Choa. Citibank Savings ATM card is accepted at 860,000 ATMs worldwide.

The popular offerings of Citibank Savings here are Market Rate Checking Account and Power Savings Account, a revolutionary savings account that requires a low initial deposit, no maintaining balance and transaction fees when depositors withdraw their money from automated teller machines (ATMs).

"We opened the Davao branch to a very warm welcome as clients rushed to open accounts allowing this banking center to have an impressive showing in relatively short time," Choa said.

Earlier, the bank has opened a branch in Cagayan de Oro City targeted for its northern Mindanao customers.