China Bank Savings leveraged to fund auto loans



China Bank Savings Inc. (CBS) and multi-brand car dealership group Grand Canyon Multi Holdings Inc. (GCMH) recently expressed optimism that mobility signals are rapidly returning to consumer confidence and economic recovery.

It’s time to move on, GCMH Director Hernani Uy Jr. was quoted in a statement as saying. As Filipinos hit the road more often, buying the car that offers the best safety, ride comfort and fuel efficiency becomes a priority, Uy said.

“We strive to serve customers and that gives the [GCMH] great family satisfaction to see more Filipinos enjoying increased mobility,” Uy said.

“Together with our valued financial partner CBS, we will make it possible for more Filipinos to own a car, whether for family trips, for leisure or for the pleasure of the ride.”

“CBS shares GCMH’s passion for cars, for life and for service,” said Manny M. Gomez, CBS vice president and head of the auto loans division. “Our goal is to help improve the quality of life by making car ownership easy, accessible and highly affordable through CBS Auto Loans.”

Gomez added that the bank looks forward to supporting GCMH’s expansion goals and will work closely with the auto dealership group to sell automobiles.

Uy said the company is now ready to add more locations to the network in 2022, among the current 35 auto dealerships that promote nine American, European and Asian auto brands.

CBS, a subsidiary of China Banking Corp., serves the retail banking needs of auto and home buyers, first depositors, employees, teachers and small businesses.

GCMH is a subsidiary of JMB Traders Inc. with investments in real estate, finance, hospitality and travel services, automobile sales and media/publishing.