The Development Bank of the Philippines’ (DBP) branch expansion continues to accelerate, with the bank increasing its distribution reach, servicing capabilities, and strengthening its brand franchise, with the opening of 15 new branches in 2016.
“Customers equate market presence and visibility with a bank’s stability and strength, important attributes for deposit taking,” said DBP chief marketing officer Antonio Owen S. Maramag, on the importance of strengthening the DBP brand franchise.
The bank ended 2015 with the opening of DBP Cabarroguis in Quirino Province on December 18. Branch expansion in 2016 was kick-started with the opening of DBP Bacoor, DBP Tuktukan, and DBP Toledo in Cavite province, Taguig City and Cebu province, respectively. More recently, DBP Villanueva in Misamis Oriental opened its doors to the public last June, becoming the bank’s 105th and newest branch thus far.
Three more branches are set to open in the following months, to be located in Pototan, Iloilo; Trento, Agusan del Sur; and San Jose, Dinagat Island. These new branches will make available a full range of products and services including loan facilities for development projects, investments, deposit, and other financial products and services.
DBP’s ongoing branch expansion is expected to address the clamor of different sectors in the countryside that have expressed strong interest in availing of the bank’s products and services including loan facilities to micro, small and medium enterprises, and livelihood assistance to families of OFWs. Various local government units (LGUs) have also requested for the establishment of a DBP presence in their areas to help support development projects, i.e. improvement of markets, roads, water systems, as well as collection efforts of both the Bureau of Internal Revenue and said LGUs.
The bank remains committed to expanding its market reach, particularly to the unbanked and under-banked in the countryside. Alongside intensified support for the development agenda of the National Government, DBP continues to extend its financial services to key areas in the country.