In the ever-evolving landscape of the banking and finance sector, one name stands out for its unwavering commitment to bringing affordable banking services to the masses: Jean Henri Lhuillier. As Cebuana Lhuillier Bank celebrates its 25th-year milestone in 2023, it’s not just a commemoration of longevity but a testament to a vision realized.
Since 2018, Cebuana Lhuillier Bank, originally a rural bank, has experienced unprecedented growth, defying odds even amidst the challenges posed by the COVID-19 pandemic. Under the leadership of Jean Henri Lhuillier, the bank witnessed a meteoric rise in deposits, soaring from PHP435 million to a staggering PHP5.94 billion in 2023. Similarly, customer loans surged from PHP304 million to PHP3.6 billion, accompanied by an impressive increase in account holders, now totaling almost 7.5 million.
The driving force behind this remarkable ascent is none other than Jean Henri Lhuillier himself, serving as President & CEO of Cebuana Lhuillier and Vice-Chairman of Cebuana Lhuillier Bank. His journey toward shaping the financial landscape traces back to his formative years, where he imbibed the essence of business diversification and mass market outreach from his father’s pawnshop business, Agencia Cebuana.
Jean Henri’s strategic acumen came to the fore when he spearheaded the consolidation of numerous pawnshop brands under the Cebuana Lhuillier umbrella. This move was followed by the establishment of a robust organizational structure and the gradual expansion of products and services under the brand’s purview.
Fuelled by his role as an entrepreneur, Jean Henri continually sought avenues to innovate and cater to the needs of the Filipino populace. His ethos of initiating new ventures while steering Cebuana Lhuillier to new heights has led to diversification across industries within the PJ Lhuillier Group of Companies, spanning insurance, technology, hospitality, and dining, among others.
“Financial inclusion has always been at the core of who we are at Cebuana Lhuillier, and this is reflected in the products and services that we offer to the many communities we serve nationwide. The introduction of Cebuana Lhuillier Micro Savings highlights the importance of accessibility in order to save money, and we made it possible through the many branches of Cebuana Lhuillier nationwide. This allows many of our kababayans to start saving for their future, no matter how small the amount is,” Jean Henri said.
Central to this founder’s vision is the pursuit of financial inclusion, a core tenet ingrained in Cebuana Lhuillier’s DNA. This ethos bore fruit with the inception of Cebuana Lhuillier Rural Bank in June 1998, aimed at serving the underserved segments through accessible and affordable banking solutions.
The accolades garnered by Cebuana Lhuillier Bank underscore its unwavering commitment to financial inclusivity. Recognized as the Rural/Cooperative Bank of the Year for three consecutive years by the Asian Banking & Finance Awards, the bank has also received accolades such as Fastest Growing Bank for Financial Inclusion and Most Innovative Microfinance Bank.
A pivotal moment in Cebuana Lhuillier Bank’s journey towards democratizing banking services came with the introduction of Cebuana Lhuillier Micro Savings. Launched before the close of 2018, this interest-bearing deposit product revolutionized savings habits among the masses. With a low initial deposit and no maintaining balance, it became a beacon of financial empowerment.
What sets Cebuana Lhuillier Micro Savings apart is its integration with Cebuana Lhuillier Pawnshop branches, effectively extending banking services to over 2,500 locations. This innovative approach not only facilitated banking access but also leveraged the existing Cebuana Lhuillier 24k loyalty rewards program, further broadening its reach.
Complementing this initiative is the eCebuana mobile app, launched in 2020, offering seamless account management, money transfers, bill payments, and load top-ups. Through digital innovations, Cebuana Lhuillier Bank continues to enhance affordability, accessibility, and convenience, making strides toward a more inclusive financial landscape.