Corporate Profile
History of the bank
South Bank, Inc. was originally organized by a group of Cagayan de Oro businessmen. It was formerly named as Kagay-anon Rural Bank (Cagayan de Oro City) Inc., and the only rural banking institution in Cagayan de Oro City at that time when establishment of bank branches was not yet liberalized.
Sometime in 2000, the bank was acquired by the A Brown Group of Companies, the foremost real estate developer/owner of Xavier Estates and
other real estate developments. It was spearheaded by Dr. Walter B. Brown. It was then a single-branch banking unit, and was renamed South Bank, Inc.
In 2004, the Bank was acquired by the Zealep Group led by Dr. Rafaelita P. Pelaez, and has since grown from one (1) single branch rural bank to seven (7) branches and a fully-organized Head Office.
Vision
To be one of the leading countryside banking institutions in the Philippines
Mission
- Establish branches and other banking units as indicated in the Bank’s 5-year strategic plan, in order to further expand our reach.
- Continue development of policy and procedures manuals to further improve our operations.
- Develop loan and other products that are accessible to the unserved and underserved sectors of the society and to be an effective agent of exclusivity in the countryside.
- Ensure full compliance with BSP, PDIC and other regulators’ requirements and audit.
Organizational Setup
There are nine (9) members of the Board, headed by Dra. Rafaelita P. Pelaez, as Chairman and Mr. Wilhelmino R. Mendoza, as President and CEO. The Board has appointed two (2) independent Directors and there are five (5) non-Zealep related Board Members who compose the RPT Committee.
The Pelaez family owns several business concerns under the Zealep Group, the core business of which is education (Liceo de Cagayan University and Academy for International Education, Inc.), real estate, finance, among others.
The President and CEO, Wilhelmino R. Mendoza, formerly First Vice President and Area Head of BDO, Region Head of Solidbank and Land Bank of the Philippines is noted for his professionalism, integrity, probity and individual advocacies.
The Head Office support units under the Office of the President are organized as follows:
1. Bank Operations Management Unit
2. Lending Business Unit
3. Financial Management Unit
4. Bank Support Services Unit
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