DBP opens 2 more branches

The Development Bank of the Philippines (DBP) has opened two new branches in Talisay City, Cebu and Guagua, Pampanga, expanding its total network to 120.

In a statement, DBP chief executive officer Cecilia Borromeo said the establishment of new branches would help intensify the bank’s thrust towards greater financial inclusion in the country.

Borromeo said the expansion reinforces efforts to increase Filipinos’ access to financial products and services.

She said this “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’s new branch in Guagua was inaugurated last Friday, its the third in 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,” the bank said.

Meanwhile, DBP Talisay, which was inaugurated last May 29, now serves the banking requirements of residents and industries in Southern Cebu.

“DBP Talisay is expected to further stimulate economic growth in the area by sup- porting projects that promote infrastructure-building, protection of the environment and the delivery of basic social services,” the DBP said.

In the first semester, DBP already opened nine new branches which are located in Bangui, Ilocos Norte; Siquijor, Siquijor province; Lal-lo, Cagayan; Tubigon and Ubay in Bohol, Zamboecozone; and Sta. Cruz in Davao Del Sur.

DBP also opened extension offices in Naguilian, La Union, and Cabugao, Ilocos Sur.

Finance Secretary Carlos Dominguez III earlier said the agency is looking at the possibility of converting DBP into an infrastructure bank which will help facilitate the Duterte administration’s infrastructure buildup program.