State-run Development Bank of the Philippines (DBP) intensifies its drive towards financial inclusion with the opening of new branches in Talisay City, Cebu and Guagua in Pampanga, expanding its network to 120 branches.
DBP Guagua will be formally inaugurated tomorrow, June 23, in simple ceremonies to be led by its board of directors headed by chairman Alberto G. Romulo and president and chief executive officer Cecilia C. Borromeo. It will be the third DBP branch in the province of Pampanga, after DBP Clark and DBP San Fernando.
DBP Guagua will serve the banking and development financing needs of residents and businesses in the municipalities of Guagua, Floridablanca, Lubao, Sta. Rita, Bacolor and Sasmuan.
Coinciding with the said branch inauguration is the DBP Business Roadshow that will be held in Clark Freeport in Mabalacat, Pampanga. The first in a series of business roadshows highlighting DBP’s 70th anniversary celebration, the roadshow is being organized as a key activity to reach out to the Bank’s strategic development partners. The roadshow will also underscore the Bank’s mandate of introducing responsive financial products and services and development programs that are sustainable, reliable and can benefit more Filipinos countywide, with the following activities: launching of the Infrastructure Contractor Support (ICONS) Program, presentation of the Internet Payment Gateway for Merchant Clients, and presentation of the Point-of-Sale Terminal for Merchant Clients.
DBP Talisay, meanwhile, was inaugurated last May 29. It serves the banking needs of residents and industries in the city considered as the gateway to southern Cebu.
Talisay City is a third class city with a population of more than 200,000. It is considered as a prime residential and trading center in the southern part of Cebu province. The area also serves as a commercial hub for traders from farther south because of its proximity to Cebu City.
DBP Talisay is expected to further stimulate economic growth in the area by supporting projects that promote infrastructure-building, protection of the environment and the delivery of basic social services.
Some of the DBP-assisted projects in the area include an integrated waste management facility with waste to energy project located in Naga City, the septage and waste water treatment of the local government of Naga City, and a modern broiler population project.
Borromeo underscored that with DBP’s branch expansion, efforts are also reinforced to increase Filipinos’ access to a wide range of financial products and services. This, she added, clearly manifests the bank’s sustained mandate of improving the lives and well-being of Filipinos and ensuring that development is broad-based, inclusive, and sustainable.
DBP also consistently seeks to bring its development financing expertise to more poor and marginalized communities that have limited access to credit and funding from formal institutions. By establishing a presence, DBP promotes and supports the development of these areas, financing schools, hospitals, farm-to-market roads, and other development infrastructure.
In the first semester of 2017 alone, DBP has already opened nine new branches. In addition to its branches in Guagua and Talisay, DBP has also opened its doors to communities and development partners in Bangui, Ilocos Norte; Siquijor, Siquijor Province; Lal-lo, Cagayan; Tubigon and Ubay in Bohol; Zamboaecozone; and Sta. Cruz in Davao Del Sur. DBP also opened extension offices in Naguilian, La Union and Cabugao, Ilocos Sur.