BY: SALLY A. ATENTO
LEGAZPI CITY, May 2(PIA) -- The Philippine Postal Savings Bank (Postbank) inaugurated Tuesday this week two branches of its Microfinance Banking Office (MBO) or Bangko sa Nayon in Albay alongside the government efforts to pursue inclusive growth particularly on the countryside.
“Aside from our mandate to serve, the Postbank has chartered a development plan to make our financial services readily available to the people and to respond and contribute to the call of the government to promote inclusive growth particularly in the countryside,” said Postbank CEO and president Cesar Sarino during the inauguration ceremony.
Sarino has been the Department of Interior and Local Government (DILG) secretary under President Corazon Aquino and Government Service Insurance System president under President Fidel V. Ramos.
Sarino led the inauguration of the MBOs in Bacacay and Malinao Albay together with their local chief executives, Postbank Senior Vice President Higinio Fabia, Legazpi branch head Hector Pili and MBO supervisor Alex Fajardo.
These MBOs have benefitted 30 small business owners with a total grant of P455, 000.00 since it started operations on February this year.
He said such grant may reach more than a million in the coming months to benefit more clients particularly the poor ones who want to improve their livelihood by putting up or expanding their business but lacking in financial resources.
He added that compared with the other two government-owned financing corporations, Postbank renders personal service by going out of their offices to look for clients in need of financial assistance through their MBOs.
“Our MBOs may be small but we are efficient in rendering our service. Our staff has their transportation service for them to personally go to the people in need of financial assistance from the cities down to the barangays” Sarino said.
Postbank MBOs aim to serve two groups of clients which include poor people in need of money for business and local government units (LGUs) with low fundings and are in need of financial assistance to render service and address the needs of their people particularly on water, infrastructure and environment.
Sarino noted that based from their studies 37% of the municipalities in the country has zero or low number of financial institutions such as banks and lending companies.
As such, to address this concern they establish their MBOs in these areas to render financial service not only to help uplift the lives of the people in the community but also to serve as added source of funding for the governing LGU.
Postbank will be opening 22 more MBO branches in the country this year.
The Bank has opened six branches this year; two of which are in Albay, two in Pangasinan and the other two in Bula and Bombon Camarines Sur also inaugurated April 30 this year.
Among the financial services offered by Postbank are Kabuhayan Deposit, Hanapbuhay Loan and Financial Assistance to Local Government Units (FALGU).
Postbank is a government owned financial corporation created on May 24, 1906 under Republic Act Number 1493 as a division of the Bureau of Posts.
The objective was to bring banking services to the rural areas and to enable the Philippine government to tap savings in the countryside.(MAL/SAA-PIA5/Albay)
- See more at: http://news.pia.gov.ph/index.php?article=2571398991908#sthash.iFIzJG8v.dpuf
LEGAZPI CITY, May 2(PIA) -- The Philippine Postal Savings Bank (Postbank) inaugurated Tuesday this week two branches of its Microfinance Banking Office (MBO) or Bangko sa Nayon in Albay alongside the government efforts to pursue inclusive growth particularly on the countryside.
“Aside from our mandate to serve, the Postbank has chartered a development plan to make our financial services readily available to the people and to respond and contribute to the call of the government to promote inclusive growth particularly in the countryside,” said Postbank CEO and president Cesar Sarino during the inauguration ceremony.
Sarino has been the Department of Interior and Local Government (DILG) secretary under President Corazon Aquino and Government Service Insurance System president under President Fidel V. Ramos.
Sarino led the inauguration of the MBOs in Bacacay and Malinao Albay together with their local chief executives, Postbank Senior Vice President Higinio Fabia, Legazpi branch head Hector Pili and MBO supervisor Alex Fajardo.
These MBOs have benefitted 30 small business owners with a total grant of P455, 000.00 since it started operations on February this year.
He said such grant may reach more than a million in the coming months to benefit more clients particularly the poor ones who want to improve their livelihood by putting up or expanding their business but lacking in financial resources.
He added that compared with the other two government-owned financing corporations, Postbank renders personal service by going out of their offices to look for clients in need of financial assistance through their MBOs.
“Our MBOs may be small but we are efficient in rendering our service. Our staff has their transportation service for them to personally go to the people in need of financial assistance from the cities down to the barangays” Sarino said.
Postbank MBOs aim to serve two groups of clients which include poor people in need of money for business and local government units (LGUs) with low fundings and are in need of financial assistance to render service and address the needs of their people particularly on water, infrastructure and environment.
Sarino noted that based from their studies 37% of the municipalities in the country has zero or low number of financial institutions such as banks and lending companies.
As such, to address this concern they establish their MBOs in these areas to render financial service not only to help uplift the lives of the people in the community but also to serve as added source of funding for the governing LGU.
Postbank will be opening 22 more MBO branches in the country this year.
The Bank has opened six branches this year; two of which are in Albay, two in Pangasinan and the other two in Bula and Bombon Camarines Sur also inaugurated April 30 this year.
Among the financial services offered by Postbank are Kabuhayan Deposit, Hanapbuhay Loan and Financial Assistance to Local Government Units (FALGU).
Postbank is a government owned financial corporation created on May 24, 1906 under Republic Act Number 1493 as a division of the Bureau of Posts.
The objective was to bring banking services to the rural areas and to enable the Philippine government to tap savings in the countryside.(MAL/SAA-PIA5/Albay)
- See more at: http://news.pia.gov.ph/index.php?article=2571398991908#sthash.iFIzJG8v.dpuf
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