State-owned Development Bank of the Philippines (DBP) recently installed the first automated teller machines (ATMs) in an unbanked island of Romblon province as part of its efforts to promote financial inclusivity in the country, a top official said.
DBP president and chief executive officer Cecilia C. Borromeo said the DBP ATMs in the municipal halls of Magdiwang, Cajidiocan, and San Fernando towns will provide electronic banking convenience to residents of Sibuyan island.
“We are proud to bring 24/7 banking services to the people of Sibuyan island in Romblon province. This latest initiative should help us further in promoting financial inclusiveness especially in unbanked and underserved areas of the country,” Borromeo said.
Sibuyan island is the second largest in the province of Romblon with a total land area of approximately 45,600 hectares and a population of around 60,000 based on latest data from the National Statistics Office. There are no banks or financial institutions operating in the island.
Borromeo said DBP has installed 111 ATMs across the country this year in line with its commitment to support the National Government’s thrust towards greater financial inclusion. As of August 15, 2018, the bank has a total of 748 ATMs nationwide.
“We intend to install more ATMs and establish branches especially in the countryside to serve more financially under-served and unbanked Filipinos,” she said.