A Service plan for Philam Savings Bank

• Main Authors: Echauz, Elvira, Guinto, Paula, Sarmiento, Jacquelyne, Sotelo, Sharon
• Format: text
• Language: English
• Published: Animo Repository 1995
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/16896
• Institution: De La Salle University

Philam savings Bank, previously a financing company known as AIG Finance Company, was incorporated on the 5th of December, 1994. It is a subsidiary of the Philippine American Life Insurance Company (Philamlife). The bank primarily involves itself into two banking activities: sourcing and lending. The former activity deals with generating deposits from the public, while the latter deals with loaning of funds specifically termed as motor vehicle loans, real estate/home and mortgage loans and business loans. Regardless of the nature of the bank, all types of banks directly and indirectly compete with each other. The proposed service plan aims to achieve the following goals: 1) To increase interest income by at least 20%, 2) To establish an identity for the bank which will distinguish it from others, 3) To increase customer satisfaction in terms of accessibility and service delivery, and 4) To diversify the loan portfolio, all these in a year's time. Moreover, the medium term goals would comprise of 1) Establishment of harmonious relationships between management and employees, 2) Maintaining a diversified loan portfolio, 3) Capitalization on relationships with its affiliate companies, and 4) Establishment of an efficient and effective system of banking operations in the next three to five years. These goals will be achieved by inculcating an internal culture that revolves around the Family, Tulong-tulong and Excellent and efficient Service orientation, the creation of a mission statement, visions and goals for the bank, training programs, workshops, for management and employees, implementation of active efforts to increase client base, extensive promotions geared towards the home and mortgage loaning, and process improvement. The bank is aimed to be positioned as the One-stop Friendly Convenience Super Bank. Ultimately, the service plan's long-term goal would be to elevate the thrift bank into a commercial bank within the next ten years. The total estimated investments to be made for this proposed service plan is P 7,489,981 and the proposal is to be evaluated using Quality evaluation tools such as the Cause and Effect Diagram and the Process Improvement Model.