Robinsons Bank, the financial services arm of the JG Summit Group of Companies, is one of the fastest growing commercial banks in the Philippines in terms of capitalization and asset size. The bank is 60.0{e2a5b7eb60ebe5ffba7ba1dbffc8c3f5416b549a817462ca080bba6e49e4df64} owned by JG Summit Capital Services Corp. and 40.0{e2a5b7eb60ebe5ffba7ba1dbffc8c3f5416b549a817462ca080bba6e49e4df64} owned by Robinsons Retail Holdings, Inc., a listed company since November 2013.
Robinsons Bank started as a savings bank in November 1997 amid the backdrop of the Asian financial crisis. In 2002, then Robinsons Savings Bank acquired the branches of ABN Amro Savings Bank (Philippines), its licenses to operate the branches and bank deposit portfolio. This acquisition made Robinsons Savings Bank the seventh largest thrift bank during that period.
In February 2010, Robinsons Savings Bank acquired the controlling interest of the Royal Bank of Scotland (Philippines). In August of the same year, Royal Bank of Scotland (Philippines) was renamed as Robinsons Bank Corporation. Then by December, Bangko Sentral ng Pilipinas (BSP) approved the merger of Robinsons Savings Bank and Robinsons Bank Corporation, with Robinsons Bank Corporation as the surviving entity. With this merger, Robinsons Bank became the 14th largest amongst commercial banks and the 31st largest bank in the Philippine banking system at that time.
In 2012, BSP approved the Bank’s move to acquire Legazpi Savings Bank (LSB). The acquisition of LSB opens up business lines and grows the target market for Robinsons Bank in the Bicol region. LSB became a wholly-owned subsidiary of Robinsons Bank.
The bank rolled out its strategic plan Roadmap 2020 in 2015, with an initial phase of capacity building. During its second phase focused in core income growth in 2016, the bank launched its Visa Debit Card which benefits its customers with convenience and better security.
By 2017, the bank oversubscribed its first Long-term Negotiable Certificates of Deposits (LTNCD) of Php4.1B. The launch of the Robinsons Bank UNO® and DOS® Mastercard in the same year marked its entry into the credit card business, as part of its expansion of its product portfolio. With the convenience of technology and digitalization, the bank developed the Personal Online Banking (POB) Web and the POB Mobile Application for banking to be more accessible to the bank’s clients.
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