southbank

What southbank does

SouthBank Incorporated is a private Philippine rural bank founded in 2004 and headquartered in Cagayan de Oro City, operating under the supervision of the Bangko Sentral ng Pilipinas (BSP) with deposits insured by the Philippine Deposit Insurance Corporation (PDIC) up to PHP 1,000,000 per depositor. The bank serves rural and underserved communities in Mindanao and Visayas through 7 branches plus a Branch-Lite Unit spanning Cagayan de Oro, Butuan, Valencia, Libona, Kitaotao, Pagadian, and Kidapawan City, with a stated mission of "empowering rural lives" through banking access and digital transformation.

The bank's core product portfolio covers traditional banking services — savings and timed deposit accounts, checking accounts, and various loan products — alongside the SBPay digital ecosystem, which includes the SBPay mobile application for fund transfers, bills payment, e-loading, and collection/disbursement, the SBPay Card virtual stored value feature, POS merchant services, and SBPay Payroll Servicing for corporate clients. Technology integration is provided through BancNet interbank membership, ECPay bill payment acceptance at BLU locations, and online banking enrollment for existing customers, with full compliance to BSP IT risk management, information security, AMLA, Data Privacy Act, and Bank Secrecy Law requirements.

SouthBank earns revenue primarily through interest income on its loan portfolio, deposit account fees on savings, timed deposit and checking accounts, and transaction-based fees from SBPay digital payments, payroll servicing, and POS services. The go-to-market motion is direct-to-consumer and direct-to-SMB via a physical branch network complemented by self-serve digital onboarding through the SBPay app, with no publicly disclosed pricing tiers or revenue figures. The bank is privately held with no disclosed investors, parent company, or external funding rounds.

Name

southbank

Legal name

SouthBank Incorporated

Website

https://southbankinc.com

Company type

Private

Founded year

2004

Operating status

Operating

Short description

SouthBank Inc. is a privately held Philippine rural bank founded in 2004, headquartered in Cagayan de Oro City, serving rural and underserved communities in Mindanao and Visayas through deposit accounts, loans, and the SBPay mobile banking and digital wallet platform.

Ownership category

akta.pro rank

Product category

Rural Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

• Rural banking services
• Deposit accounts
• Loan products
• Mobile wallet payments
• Digital banking platform

Headquarters

HQ city

Cagayan De Oro City

HQ country

Philippines

HQ region

Asia

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income: Revenue generated from loan products including interest charged on various loan offerings.
2. Deposit Account Fees: Fees and services related to savings accounts, checking accounts, and timed deposits.
3. Digital Payment Services: Transaction fees from SBPay digital wallet services including fund transfers, bills payment, and e-loading.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

SouthBank is a Philippine rural bank that provides traditional banking services—including deposit accounts (savings and timed deposits), checking accounts, and loan products—targeted at rural communities. It complements these core services with the SBPay mobile wallet, SBPay Card (a virtual stored-value card), merchant POS services, and SBPay Payroll Servicing for SME employers.

Product overview

SouthBank Inc. is a rural bank in the Philippines offering a unified banking platform combining traditional deposit, loan, and checking account products with digital services through the SBPay mobile application ecosystem. The core product portfolio includes Deposit Accounts, Timed Deposits, Loans, and Checking Accounts, supported by the SBPay digital wallet which encompasses SBPay Essentials and the SBPay Card virtual stored value feature. Additional offerings include promotional Deals, POS merchant services, and Branch-Lite Units providing expanded physical access points. All deposits are insured by PDIC up to P1,000,000 per depositor.

Differentiator

Problem solved

Functional benefit

Brands

• SBPay: Mobile banking application for digital payments, fund transfers, bills payment, e-loading, and collection/disbursement services.
• SBPay Essentials

Products and services

• Deposit Accounts (Savings) Standard savings deposit accounts for individual and household customers, providing PDIC-insured safekeeping of funds and earning interest. Targeted at rural retail consumers in the Philippines.
• Timed Deposit Fixed-term time deposit product that allows customers to earn higher interest by locking funds for a specified period. For retail and rural customers seeking higher-yield insured deposits.
• Loans Credit products extended by the bank to individual and small-business borrowers, generating interest income. Targeted at rural consumers and SMEs needing small-ticket financing.
• Checking Account Transaction account that allows customers to make deposits, withdrawals, and payments via check or digital channels. For retail customers and small businesses needing transactional banking.
• SBPay Mobile Wallet Mobile wallet application that enables digital payments, fund transfers, bill payments, and access to banking services from a smartphone. For unbanked and underbanked rural consumers in the Philippines.
• SBPay Card Virtual stored-value prepaid card linked to the SBPay mobile wallet that allows customers to make card-based purchases and payments without a traditional bank account. For rural consumers and unbanked users needing card-based payment capability.
• POS Services Merchant point-of-sale payment acceptance services that allow small and medium-sized merchants to accept digital payments from SBPay users. For SME merchants operating in rural Philippine markets.
• SBPay Payroll Servicing Payroll disbursement service that allows SME employers to pay employee wages directly into SBPay accounts. For small and medium-sized business employers, exemplified by the Zealep's Manpower Group contract.

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature1 record

Partnerships

Six partnerships are on record, tiered core, flagship and minor.

• Philippine Deposit Insurance Corporation (PDIC)coreOthers · 15 March 2025PDIC insures deposits up to ₱1,000,000 per depositor per bank. SouthBank displays the official PDIC digital decal and Notice to Depositors.
• Zealep's Manpower GroupflagshipStrategic or Co-development Partner · 28 June 2024SBPay Payroll Servicing pilot program successfully implemented for Zealep's Manpower Group companies (Cleanmate, MyDrink, Divine Shepherd, Sastre). Streamlined payroll disbursement process.
• Rural Bankers Association of the Philippines (RBAP)coreStrategic or Co-development PartnerSouthBank is a member of the Rural Bankers Association of the Philippines (RBAP), participating in industry events such as Rural Banking Consciousness Week.
• Bangko Sentral ng Pilipinas (BSP)coreOthersSouthBank is regulated by the Bangko Sentral ng Pilipinas (BSP) and participates in BSP initiatives including National Banking Week and consumer protection programs.
• BancNetcoreTechnology or IntegrationSouthBank is a member of BancNet, enabling interbank transactions and network connectivity.
• Fintech Philippines AssociationminorGTM or Marketing PartnerSouthBank's CTO Norman Armian joined the Fintech Philippines Association, participating in networking events.

Scale indicators2 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Philippine Savings Bank (PSBank): Thrift bank subsidiary of Metrobank offering deposit accounts, loans, and consumer banking products in the Philippines. Closely comparable to SouthBank in scale, product mix (deposits, personal loans, digital banking), and focus on retail/SME customers outside the top-tier universal-bank segment.
• BDO Network Bank: Rural and community banking arm of BDO Unibank, focused on financial inclusion in underserved Philippine municipalities. Direct functional peer given its rural-banking license, geographic expansion via lite-format branches, and SME/microfinance lending focus.
• RCBC Savings Bank: Savings bank arm of Rizal Commercial Banking Corporation offering deposit and loan products to retail and SME customers. Comparable in product scope (deposits, personal/auto loans, digital channels) and customer segment focus.
• China Bank Savings: Savings bank subsidiary of China Banking Corporation serving retail and small-business customers with deposits, auto/personal loans, and digital banking. Comparable mid-tier positioning with branch-led distribution and SME consumer focus.
• EastWest Bank: Mid-sized Philippine commercial bank serving retail consumers and SMEs with deposits, loans, and consumer finance products. Comparable in size tier, branch footprint, and consumer/SME lending orientation to SouthBank.

Broad incumbents

• Security Bank: Mid-to-large Philippine universal bank offering full-service commercial and consumer banking. Comparable end-customer base (retail, SME) but at materially larger scale with broader product set including treasury, FX, and credit cards.
• Bank of the Philippine Islands (BPI): One of the Philippines' largest universal banks with nationwide retail, SME, and corporate banking. Overlaps with SouthBank on retail deposits and SME lending but operates at vastly larger scale and product breadth.
• UnionBank of the Philippines: Digital-forward Philippine universal bank targeting retail and SME customers with mobile-first banking. Comparable digital ambitions (mobile app, payments) but at larger scale and with broader product portfolio including credit cards and investments.

Emerging players

• Maya Bank: Digital-only Philippine bank/wallet (formerly PayMaya) offering deposits, payments, and consumer credit through a mobile app. Competes directly with SBPay in digital payments and increasingly in deposit accounts, with materially larger funding and user base.
• GCash (Mynt): Dominant Philippine e-wallet offering fund transfers, bills payment, savings, and credit products. Direct competitor to SBPay in the digital-payments space, with national scale, deep agent network, and strategic backing from Globe Telecom and Ant Group.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@southbankinc.5636
• Facebookfacebook.com/southbankincofficial
• LinkedInlinkedin.com/company/southbank-inc

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about southbank