BPI expands financial access for Filipinos through LSB

LSB, through the Teachers Loan, partners with teachers to provide financial solutions that support their goals and dreams.

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Legazpi Savings Bank (LSB), a wholly-owned subsidiary of the Bank of the Philippine Islands (BPI), is reinforcing its commitment to promote financial inclusion through innovative products and services that are designed to empower local communities.

This aligns with BPI’s ongoing initiatives to help individuals, businesses, and families in regions where they are present to achieve their financial goals, improve their financial well-being, and build sustainable future.

“LSB has always been at the heart of Bicol and nearby provinces, providing accessible and affordable banking solutions to communities that once had no access to financial services. Our mission is to bridge this gap by offering financial products, such as personal loans and deposit accounts, tailored to meet the needs of Filipinos, particularly teachers,” said Jerome Minglana, LSB President.

Established in 1976, LSB has a rich history of serving local communities with personalized financial solutions. It was acquired by Robinsons Bank in 2012. LSB officially became part of the BPI Group on January 1, 2024, as a result of the merger between BPI and Robinsons Bank, with BPI as the surviving entity.

LSB has grown and now operates 17 branches and regular branch-lite units (BLUs) with deposit-taking operations, and ten limited BLUs (no deposit-taking) strategically located in 18 provinces in the country. The bank also maintains 19 ATM terminals which provide the community a convenient way to access their funds 24/7. Clients can also access LSB’s products through over 1,000 BPI and BanKo branches nationwide.

A vision for financial wellness

LSB’s focus before was to offer retail loans mostly to people in the countryside through its branch network. In 2021, the bank pivoted into a new strategic direction—to be a one-product institution concentrating on the Automatic Payroll Deduction System (APDS). This new trajectory has allowed the bank to focus on providing more affordable loans to teachers across the country. 

LSB is expanding its presence, ensuring broader accessibility to its products and services. So far into 2024, it has achieved a 50% increase in loan releases. Looking ahead, LSB aims to achieve compounded annual growth rate in the double-digits over the next five years, underscoring its dedication to sustained progress and financial inclusion.

Beyond lending, LSB is dedicated to fostering financial literacy and wellness among its customers. With plans to expand its service offerings and leverage digital tools, the bank is creating opportunities for underserved communities to access vital financial services that improve their quality of life.

“LSB exemplifies our vision of financial inclusion, reaching out to underserved markets while complementing BPI’s broad array of financial services which now extends to teachers across the nation,” said Minglana. “We are excited to bring LSB’s expertise and BPI’s resources together to help build a better Philippines—one family, one school, one community at a time.”

For more information on LSB and its products, visit https://www.legazpibank.com.ph/.