Top 5 Accomplishments of Cebuana Lhuillier Bank that Paved its Entry to the Big Leagues of Banking

Cebuana Lhuillier Bank has successfully attained the goal it has set out to do since it was established in 1998: serve the unbanked and underbanked markets.

“At Cebuana Lhuillier Bank, we believe that every Filipino should have the chance to save, invest and create a better future. Our dedication to helping the unbanked and underbanked sectors drives our unwavering pursuit of innovative solutions and strategic partnerships. Together, we are changing people’s lives and creating a more financially inclusive society,” said Jean Henri Lhuillier, President and CEO of Cebuana Lhuillier and Vice Chairman of Cebuana Lhuillier Bank.

Dennis Valdes, Cebuana Lhuillier Bank President, added, “The Bank’s comprehensive selection of products and services is meticulously crafted to meet the individual demands and budgets of each Filipino. Our massive growth serves as a testament to our dedication to empower Filipinos, helping them achieve their dreams.”

Here we give you the Top Five Accomplishments of Cebuana Lhuillier Bank in the last five years which marked its entry into the “Big Leagues” as the banking industry’s undisputed leader for financial inclusion.

1. Cebuana Lhuillier Bank launched in 2019 Cebuana Lhuillier Micro Savings, an interest-bearing deposit account with a low initial deposit and no maintaining balance, was a game-changing service for Cebuana Lhuillier Bank as it finally gave access to marginalized Filipinos who yearned to save their hard-earned money without the usual and often tedious requirements asked for by big commercial banks, like a high maintaining balance and documentary requirements. But what upped the game for Cebuana Lhuillier Bank was when it sanctioned Cebuana Lhuillier Pawnshop’s nationwide network of close to 3,500 branches to carry the bank product as its cash agent, a marketing innovation that would signal the bank’s emergence in the banking community as a force to be reckoned with.

2. Along with its brick-and-mortar branches, Cebuana Lhuillier Bank solidified its industry standing in 2020 by launching the eCebuana Mobile App which allows users to open a Cebuana Lhuillier Micro Savings account online, making affordable banking more accessible to more Filipinos. The app also allows bank clients to easily access their bank account, send money within the bank, via Instapay and Pera Padala, pay bills, and top up loads.

3. Cebuana Lhuillier Bank also partnered with BancNet, UnionPay, Instapay, PesoNet and Visa, which expanded the bank’s card network and enhanced online fund transfers for depositors. The company also embraced QR technology for added security and added a Teachers’ Loan to its roster of loan products. Cebuana Lhuillier Bank just recently selected Temenos to modernize its core banking platform. Temenos’ core banking platform gives Cebuana Lhuillier Bank flexibility and agility to manage customer accounts, manage transactions with greatly improved performance and efficiency, and offer personalized products faster and at a lower cost.

4. Cebuana Lhuillier Bank’s impressive growth from 2018 to 2023 is reflected in the aggressive surge of gross customer loans and a 12-fold growth rate in terms of deposits which grew from PHP 440 million to PHP 5.94 billion in 5 years. Currently, Cebuana Lhuillier Bank handles 7.6 million Cebuana Lhuillier Micro Savings Accounts. Cebuana Lhuillier Bank data shows that demographically, Cebuana Lhuillier Micro Savings Account holders are composed of 35% male and 65% female depositors. Its number of account holders also cuts across all age groups: aged 17 and below (1%); aged 18 to 25 (14%); aged 26 to 33 (24%); aged 34 to 41 (21%); aged 42 to 49 (17%); and aged 50 and above (24%).

5. Due to its significant role in pushing for financial inclusion while actively supporting the government’s own program towards a more financially included Philippines, the Bangko Sentral ng Pilipinas (BSP) has acknowledged Cebuana Lhuillier Bank as one of the banking industry’s top leaders by recognizing it as one of the BSP Outstanding Stakeholders of the Year in 2021 and as the Top 7 Rural Bank in terms of Assets and Deposits in 2022. Cebuana Lhuillier Bank has even earned the respect of the international banking industry with three consecutive wins from 2021 to 2023 as Rural/Cooperative Bank of the Year at the Asian Banking & Finance (ABF) Awards and three major World Economic Magazine awards.