Issue of May 14, 2017
Mt. Province

66th Courier Anniversary Issue
Other Links:
Central Bank affirms stable banking system in Cordillera

The banking system in Cordillera remained stable in 2016 with double-digit growth in loan portfolio and deposits and increasing number of bank offices and automated teller machines (ATMs), the Bangko Sentral ng Pilipinas (BSP) said last week.

During the Philippine Statistics Authority-led reporting of the 2016 Economic Performance of the Cordillera in Baguio last week, BSP La Union Regional Branch Director Rogel Joseph del Rosario reported that deposit liabilities of banks in the Cordillera amounted to P96.42 billion, 15 percent higher than the P83.58B inflow in 2015 while loan portfolio of banks reached P13.6B last year, an 11 percent expansion from the P12.25B figures in the previous year.

As of 2016, Cordillera has 165 banking offices located in 28 municipalities and two cities in the region. These are composed of 76 rural/cooperative banks, 73 universal and commercial banks, and 16 thrift banks. There were also 255 ATMs spread in 14 municipalities and the cities of Baguio and Tabuk in Kalinga.

Del Rosario also affirmed BSP’s continuing effort to widen financial access points under the national financial inclusion strategy.

As part of BSP’s supervisory effort to ensure the resiliency of the financial system, the BSP continues to pursue pro-active regulatory reforms aimed at broadening the access to financial services and promoting competitiveness in the financial system, strengthening corporate governance and risk management standards, enhancing supervisory oversight of non-bank financial institutions, and promoting accelerated development of capital market.

To better serve the banking needs the region, del Rosario said a BSP Baguio branch will soon open to help boost local economy, supply currency requirements, ensure clean notes and facilitate exchange of currency, and provide learning hub on economic and financial matters to the public.

The establishment of BSP Baguio will also ensure the delivery of consumer protection and financial inclusion services to the communities, strengthen links to the main office of the BSP, and will also serve as a purchasing area of gold from small-scale miners in the region, he added.

Your Ad Here

Treasurer’s Office asks JHMC list of CJH concessionaries

BSP office ready by 2018

DILG calls on LGUs to be centers of growth and business dev’t

DA brings backyard chicken raising practices

Natubleng emerging as agri-tourism area

Group trains on swine raising

Organic fertilizers improve coffee growth and revenue

No more tax amnesty in city

RDC adopts 5–year Cordillera Regional Development Plan

Kin of fallen servicemen take CSBP capacity training

DOST encourages more studies on seaweed, Benham Plateau

122 Ifugao youths avail of internship program

DTI to implement P3 program in Ifugao

Baguio Country Club
Department of Tourism – CAR
University of Baguio
Venus Parkview Hotel

Congressman Mark O. Go
Department of Health – CAR
Kings College of the Philippines
Lepanto Consolidated Mining Company
Mayor Mauricio G. Domogan
Narda’s Handwoven Arts & Crafts Inc.
Philex Mining Corporation
Pines City Colleges
Province of Benguet
Sangguniang Panlungsod
SM City Baguio
Social Security System

Assumption Medical Diagnostic Center
Baguio Center Mall
Baguio Central University
Baguio Heart and Lung Diagnostic Center Inc.
Baguio Memorial Chapels Incorporated
Baguio Water District
Bureau of Fisheries and Aquatic Resources – CAR
C & Triple A Supermart
Congressman Ronald M. Cosalan
Curamed Pharmacy
Data Center College of the Philippines of Baguio City Inc.
Department of Agriculture – CAR
Department of Environment and Natural Resources – CAR
Department of Trade and Industry – CAR
Department of Transportation – CAR
Easter College Incorporated
Fabulo Beauty and Image Salon
Fast East Pacific Commercial
Filipino–Japanese Friendship Association of Northern Luzon, Inc.
GMS Technology
Immigration Network Services, Inc.
La Funeraria Paz, Inc.
Mayor Romeo K. Salda
MMS Development Training Center Corporation
Mother Earth Deli Basket
National Economic & Development Authority–CAR
Overseas Workers Welfare Administration
Philippine Science High School – CARC
R.A. Gapuz Review Center
Regional Tripartite Wages and Productivity Board – CAR
Solibao – Ganza Restaurant
Technical Education and Skills Development Authority

Home | About Us | Editorial Policy | Contact Us  
News | Opinion | Snapshots | Week's Mail | Obituaries  
Copyright © 2007-2015. All Rights Reserved.