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According to Statista, the company was awarded the title of one of the Philippines' Best 100 Employers in the financial service industry for the year 2023. [18] M Lhuillier Financial Services is a recipient of the “Captain of Industry: Financial Institution Money Remittance” award from the Cebu Chamber of Commerce and Industry.
CitySavings was incorporated by Don Ramon Aboitiz and Teotimo Abellana in 1965 at Cebu City, Philippines as Cebu City Savings and Loan Association (CCSLA). After 11 years, the bank expanded to the nearby city of Tagbilaran, Bohol. In 2013, City Savings was acquired by UnionBank and became its subsidiary.
CIBI Information, Inc. or CIBI, formerly known as Credit Information Bureau, Inc., is the first and the only local credit bureau in the Philippines.CIBI started as a government entity under the Central Bank of the Philippines Department of Loans and Credit to initiate a credit information exchange system in the country.
It traces its roots to Cebu, where then-French Consul to the Philippines, Henry Lhuillier established his first chain of Agencias in 1935. Throughout the 70's and 80's, Philippe Jones Lhuillier opened more agencies in Metro Manila. The company pursued further nationwide expansion in 1987 and adopted the trade name, “Cebuana Lhuillier.”
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The Bombay 5-6 moneylending system is an informal lending practice prevalent in the Philippines, historically associated with small-scale, short-term loans provided by Indian-Filipino lenders, often colloquially called “Bombay.” This system is named "5-6" due to its interest structure: for every PHP 5 borrowed, borrowers repay PHP 6 ...
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