AMA BANK: A SIMPLE FORMULA FOR SUCCESS

Nobody in his right mind will turn down the chance to double his money; especially if it does not entail any hard labor on his part. This is probably the reason why in less than 3 months of AMA Banks promo "DOBOL your money sa AMA Bank" it was able to generate considerable public interest and substantially increase the number of depositors. The promo is simple you just have to make a time deposit of at least P50;000. If for five and a half years the time deposit is not terminated. AMA Bank will double the amount giving you the depositor P20;000. It has been extended but at 8 years. The promo has in fact been so effective that its run which is supposed to be only until August 2004 has been extended for another 6 months. This however is but one of the innovative strategies of the relatively young and dynamic banking team of AMA Bank led by its President Amable C. Aguiluz IX. An Agora Awardee as Entrepreneur of the Year and its EVP-Chief Operating Officer Mr. Alejandro Soliman.

On May 31;2004 the bank concluded their promo "Tricycle na! Pa-Kotse pa! Ng AMA Bank"; where for a minimum time deposit amount of P10;000 for one year depositors were given the chance to win brand-new tricycles or a brand new Toyota Vios automobiles. Various models of Nokia or Sony Ericsson cellular phones likewise continue to be given away to clients for a minimum time deposit amount of P50;000 with a lock-in maturity period of one year. The promo has been running for five years and is still bringing in a lot of depositors.So; if you think you deserve a brand-new cellphone FREE; go and open an account with AMA Bank.

GROWING BY LEAPS AND BOUNDS

AMA Bank is now on its 57th year of service.It has grown and consolidated its assets to include branches all over the country;among which are the Head Office in Shaw Boulevard; Mandaluyong; branches in Bacoor Cavite;Cainta; Baliuag Bulacan and Morong Rizal; Calamba Laguna; Rosario;Pasig City; San Fernando Pampanga; San Pablo and Baguio. The bank was bought by the AMA Group in late 1998; and armed with the vision of AMA founder Ambassador Amable R. Aguiluz V and under the able stewardship of current COO Alejandro Soliman; it proceeded to carve for itself a sizeable niche in the field of use-car financing. In fact; because of its efforts to set the benchmark in used car loans; AMA Bank is now the largest used car loan bank in the country; which is exactly the goal that the banking team has set its sights on ever since the took over the bank.

To achieve this however; the team set out to offer its clients a number of value-added services that are not available in other banks. For instance; where other banks only accept 5-year old or newer models of used cars; AMA Bank finances up to 15-year old cars.The bank likewise charges the lowest interest rates at 6% per annum; compared to other financing companies 13% - 24%.Plus; its fast approval and fast check release services ensure that clients get their money when they need it.Proof of the banks current viability is the improvement of its deposit level from a low of P166 million in 2001 to a high of P 2 Billion in 2009. Loans have likewise hit the 2.5 billion mark.

Its non-performing loans have also improved dramatically. From a high of 71% when AMA assumed ownership; it has now shrunk to 2%; which is way below the industry average of 15%.

MAKING PEOPLE HAPPY

When asked what winning formula they use to achieve such phenomenal growth; Soliman smiled and said: "Our reason for success is we focus on our niche market and we use our expertise to serve the specific needs of the said market. Our bottom line; though; is to make people happy."

"No matter what marketing strategies we conceptualize and implement; no matter how high the targets we set for ourselves; our goal will always be Total Customer Satisfaction;" he added.

The companys focus however is not only in satisfying its clients but also in motivating and satisfying its own banking team. "When the employees are happy; its easier for them to make clients happy as well;" Soliman pointed out.