MID-sized retail lender Citystate Savings Bank (CSBank) garnered two Golden Arrows from the prestigious Institute of Corporate Directors (ICD) on October 23 at the glittering Golden Arrow Awards 2025 ceremony at the Okada Manila Hotel, Paranaque City. This is CSBank’s maiden recognition for excellence in corporate governance.
The ICD is the Philippines’ Domestic Ranking Body (DRB) for the stringent Asean Corporate Governance Scorecard (ACGS).
There are five levels of distinction granted to publicly listed companies that demonstrate outstanding transparency, accountability and integrity. Two Golden Arrows carry an ACGS score of 85 points to 94 points.
Anchored on the ACGS framework, the ICD evaluates how effectively organizations uphold shareholder rights, engage with stakeholders, promote sustainability, ensure transparency, and maintain strong board oversight in alignment with both local and international governance standards.
President Jaime V L Araneta remarked, upon receiving the award on behalf of the Board, management and staff of CSBank, ‘Our Two Golden Arrows are both a reward for past performance and a prod to excel still more as a publicly listed retail bank committed to strategic and sustainable value creation for our shareholders, customers, communities and employees.’
Meanwhile, as of September 30, 2025, CSBank grew its resources to P8.057 billion, up 26 percent over the 2024 year-end level. Deposits surged by over 30 percent to P6.537 billion while net loans and receivables swelled by more than 11 percent to P4.294 billion. The lender’s total equity increased by 18 percent to P1.358 billion.
The CSBank posted an after tax net income of P151.005 million compared to the 2024 full year bottomline of barely P1 million.
The lender’s return on equity climbed to 19.30 percent, its risk based capital adequacy ratio to 17.41 percent and Common Equity Tier 1 to 16.87 percent. CSBank’s cost to income ratio further improved to 60.81 percent.