Bangko Sentral ng Pilipinas Butuan Branch inaugurated

BUTUAN CITY – The Bangko Sentral ng Pilipinas (BSP) is now ready to serve Caraga region as it inaugurated its new branch here on Wednesday.

Chairman of the Monetary Board and Governor of BSP Amando M. Tetangco, Jr. led the cutting of ribbon and unveiling of the BSP Butuan Marker. With him also were other members of the BSP Monetary Board, Butuan City Mayor Ferdinand Amante, Jr., former Congressman Jose Rufino Aquino II.

The BSP building was blessed by Most Reverend Juan de Dios Pueblos, Bishop of Butuan City. Also, government agency heads, private individuals, and other invited guests attended the event.

Tetangco said that BSP will help advance the economy of Caraga region. “Our banking system is strong and we intend to share BSP’s development roadmap to strategically move forward the economy and people of Caraga. There will be bumps & humps ahead of us but we are more prepared to face the challenges. Let us work together to bring prosperity in this region,” he said.

It was learned that BSP Butuan Branch targeted to replace the ‘used’ currencies in circulation within the region with mint banknotes and coins.

In time also with the inauguration was the launching of its Economic and Financial Learning Center (EFLC) where it provides information services, programs and materials to introduce the work of the BSP and its role in economy, and to promote greater understanding of essential economic and financial concepts and issues.

“It addresses the information requirements of researchers, students and other visitors, as well as coordinates the conduct of various activities relating to economic and financial information dissemination,” relayed Tetangco.

Moreover, the EFL program brings together the outreach and educational activities of the BSP under the flagship program which aims to promote greater awareness and understanding of essential economic financial issues to help the public acquire the knowledge and develop skills needed to make economic & financial decisions.

Meanwhile, Butuan City Mayor Ferdinand Amante, Jr. expressed his elation over the milestone event because it is an affirmation that the city is improving economically and that there is enough cash flow in the region to warrant the presence of the Bango Sentral.

“This is a great blessing and will help boost investments in the region. With the new BSP branch, protection and security of our financial resources is assured,” Amante said.

BSP Butuan is the nineteenth branch in the country and the sixth branch in Mindanao. It will serve 208 banks in Caraga region including 44 banks in Butuan City.

To carry out its mandate, BSP focuses on three pillars of strength: Price Stability, Financial Institutions’ Stability, and Payments and Settlements System Efficiency.

The Bangko Sentral ng Pilipinas (BSP) is the Philippines’ central bank. Its forerunner was the Central Bank of the Philippines (CBP), which was founded in 1949. In 1993, the CBP ceased operations. The new BSP was established by Congress pursuant to R.A. 7653 or the BSP Charter. (Venus L. Garcia/PIA-Caraga)

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