State-owned Development Bank of the Philippines (DBP) recently inaugurated its Virac branch as part of efforts to bring development banking closer to the people of Catanduanes province.
DBP president & chief executive officer Francisco F. Del Rosario, Jr. and DBP director Alberto Lim were joined by Catanduanes governor Joseph Cua, Rep. Cesar Sarmiento, and Virac vice mayor Roy Laynes during the inauguration rites.
Strategically located at the Old Capitol building at the corner of Eustaquio Street and Rizal Avenue in downtown Virac, the new branch completes DBP’s presence in the six provinces of Bicol region. DBP Virac offers a complete range of deposit and other financial products and services to residents of the province. The branch is poised to support the main industries of Catanduanes such as agriculture, eco-tourism, and small and medium enterprises.
“We want to be active. Our promise to the people of Catanduanes is that we will truly be involved in the development of Catanduanes, especially in the area of the abaca industry,” said Del Rosario. He added that DBP now has 86 branches and 15 regional marketing centers nationwide after opening five new branches this year. The bank also plans to open full service branches in San Juan, Parañaque, Makati, Manila, Alabang and Santiago, Isabela.
Local officials also expressed their enthusiasm for potential developmental initiatives in partnership with DBP. “We welcome the partnership and cooperation through the development banking services that DBP offers. And we are hopeful that such critical collaborations will pave the way for a lifetime commitment of improved living standards for our constituents and a more active people’s involvement in our development goals. Let this be our shared vision for the province and entire country,” said Governor Cua.
Meanwhile, Rep. Sarmiento said, “The governor and I together with the local officials are committed to serve and work for the progress of Catanduanes. And we would like DBP to be our partner in seeing the progress of the province of Catanduanes.”