DBP sees improved economy for city, Benguet
WITH the opening of the Development Bank of the Philippines branch in Baguio City officials sees an improve business climate in the city and nearby Benguet province.
Former Senator and DBP chairman Alberto Romulo, Chief Executive Officer Cecilio Borromeo, Executive
Vice President Fe Susan Prado led the ribbon cutting and opening of the marker of DBP branch to expand financial services in the city together with government officials Congressman Mark Go, Benguet Governor Crescencio Pacalso and City Mayor Mauricio Domogan on March 8.
Go said with the DBP providing retail banking or lending for micro, small enterprises to sustainable business programs can contribute to the reduction of poverty rate of 14 percent.
"The government role in reducing unemployment rate by 1.1M jobs per year by 2022 by the help of DBP providing retail, micro, macro improvises agro programs in connecting urban and rural intermodal sys- tem efficiently," Go said.
Go added Philippine Development Plan 2017 – 2022 is a collective aspiration for the reduction of poverty, decline in unemployment, increase resiliency and community development for the drive of institution.
Benguet Governor Crescencio Pacalso added the role of DBP and transaction of LGU's systems operating in the bank is important not only in the city but also for the province.
"Ever since the DBP has been with us, for so many years, it contributed so much in assisting the local government units," Pacalso underscored.
Baguio City Mayor Domogan congratulated DBP which one of the three banks where some of the city coffers are deposited.
"For the City of Baguio, this is one great bank in depositing the account of money of the city government. If I am not mistaken we have a time deposit right now of P774, 875,852. 59," Domogan said.
Domogan added DBP continue to sustain and improve the services sees it a big help in preventing people from being victimized by loan sharks and scams.
Romulo meanwhile said with the infrastructure bank and under the Build, build, build program, it will provide the jobs, income for the people of the country.
"We are now an infrastructure bank and under the Build, build,build Mayor Domogan and Governor Pacalso telling about the generation of job, it’s through infrastructure that we provide the jobs and the income for the people of the country," Romulo said.
Prado, in behalf of the DBP board, expressed her gratitude for the new branch which was open for business starting 1969.
Pablo said they have full lending programs for various infra project and not limited to roads, bridges, but also covers infrastructure for social services such as hospitals and schools.
"We would like to lend to more investors who would like to develop the province and the city. Our goal is to increase 1M depositors to generate and put to good use your savings," she said.
"The challenge is to bankroll P3.9 billion or more into loans, the loans in this lending center is P1.5 billion which means some of the money are used to develop other cities and towns," added Pablo.
DBP also offers ebanking services to the other government agencies, private sectors such as electric, telephone and water bills through online and payment facility.