With just about three months after turning over the branch management to Mr. Johnson B. Pascual, FICOBank Maddela breached the P200-million mark in deposits. The new branch management strove toward this end by keeping a laser-sharp focus on building deposit base.

There is an old Confucius saying that goes: “If you chase two or more rabbits, you catch none.” This is especially true to FICOBank Maddela in its desire to create a dramatic impact on its banking operations. As they recede in putting their attention in so many directions and spreading their energy too thin, the branch management and staff members focused their sales efforts on deposit generation. They steered the branch toward reaching the P200-M level of deposits by: communicating the importance of deposits; using a compelling data to state the case; improving customer service; building relationship with existing and would-be clients; and making deposit as a “nice-to-have” complement to loan payout.

With a sense of purpose, and having no trouble staying focused at a goal they are passionate about, BM Pascual and his staff have successfully wrapped up their deposit-generation task on August 18, 2010. Reaching the P200-million deposit level is no small feat. It is a sought-after development and a high-point achievement in the 12-year operational existence of FICOBank Maddela. In the entire branch network of the Bank, FICOBank Maddela is the second branch (along with FICOBank Santiago) that has over P200-million figure in total deposits.

As of end-August 2010, FICOBank Maddela has already a 293-percent accomplishment rating vis-à-vis year-end deposit target. It is also six-percent beyond standard with reference to the Bank’s prescribed deposit mix. Actually, the newly-found focus on low-cost deposits is the most striking aspect of its earnings. Current and savings accounts (CASA) are vital to the Bank’s profitability, particularly at a time that it cannot raise its lending rates due to intense competition. So, the best way to keep the net interest margin intact is to bring down the cost of deposits. FICOBank Maddela has made this possible by rapidly expanding its CASA portfolio. Among the banking units of FICOBank, the said branch owns the distinction of having the highest portfolio level of savings and current accounts.

Ditto about these deposit accounts, medium- and high-networth individuals, as well as local government units, business entities and even some non-commercial banks, keep their respective accounts with FICOBank Maddela and make many transactions with it during its daily banking hours. For the record, it has now a total of 4,440 deposit accounts, which represent 53.02 percent of the total household population of Maddela. With this data, it is quite obvious that FICOBank holds the biggest market share as to deposit-taking in the area.

To complement its deposit-taking activity, FICOBank will soon launch its first-ever ATM in Maddela Branch. As soon as it kicks off in dispensing cash, a high-volume of convenience banking transactions is on the horizon. The people in the locality have been looking for this 24/7 banking service, as they are expected to get more out of it—account information flow, greater speed, more convenience and, possibly, even greater movement and management of their money.

With these developments, the branch team of FICOBank Maddela is more inspired to turn its focus on the other key result areas, particularly on loan-making, as it is now just seven-percent behind its year-end target of P580 million. As the branch’s team leader and members have the intrinsic ability to think and act “outside the box,” heaps of greater things are yet to come for FICOBank Maddela.