‘Zambo has a lot going for it,’ — BSP governor PDF Print E-mail
Friday, 16 September 2011 17:05

Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. yesterday minced no words in saying that Zamboanga City has a lot of potentials and opportunities given its strategic location, rich fishing grounds and other resources and contribute a significant amount to the country’s gross domestic product.

“Zamboanga City alone has 55 bank branches. This could be one of the reasons why bank deposits here grew 12% and reached P46.7 billion in 2010. Clearly, you do not lack for capital or funding here”, the BSP governor said in his keynote message during the elegant launching of the majestic BSP building in Pettit Barracks yesterday morning.

Governor Tetangco affirmed that the establishment of the BSP branch in Pettit Baracks, one of the city’s most historic grounds, reflects the commitment of the BSP to provide improved banking services to the community and the banking industry. 

“That this land now hosts the Bangko Sentral, a government institution mandated to provide stability to our economy through responsive monetary and banking policies, makes for a powerful statement about our nation’s independence”, he said adding that the construction of a new and bigger office “signals our commitment to strengthen our presence here to help the region attain its full potential”.

The imposing building, costing a little over P300 million was constructed in a period of about 7 months. It is a two-storey structure that blends with the scenic Paseo del Mar, Plaza del Pilar, Fort Pilar Shrine and huge government buildings such as the Land Bank, Bureau of Internal Revenue, Lantaka Hotel and several other structures—built in accordance with the heritage designs.

The inauguration of the building, held under tight security measures, coincided with the recognition of BSP’s partners in Region 9 who respond faithfully to the BSP’s information requirements and support the bank’s advocacy programs and the launching of BSP’s Economic and Financial Learning Program for various sectors in the city and the region.

Governor Tetangco’s team that graced the Zamboanga BSP building inauguration included and Monetary Board members Alfredo Antonio, Ignacio Bunye, Peter Favila, Felipe Medalla, Armando Suratos, and Deputy Governors (Monetary Stability Sector) Diwa Guinigundo, Nestor Espenilla Jr.,  and Jun Zuñiga, Managing Director, Regional Monetary Affairs Sub-sector Pedro Tordilla Jr. and Rosabel Guerrero, Director of the Department of Economic Statistics and many others. Also present during the affair were Zamboanga Archbishop Romulo Valles and Councilors Myra Paz Abubakar, Lilia Nuño, Rudy Lim, Gerky Valesco, Rommel Agan, Rey Candido, Percival Ramos, Mike Alavar, VP Elago and Rodolfo Bayot, Zamboanga Bankers Association President Norma Candido, Westmincom commander LTGen. Raymundo Ferrer, Westmincom deputy commander Gen. Layug, PNP-9 Deputy Director Gen. Mario Yanga, City Police OIC Director Col. Edwin de Ocampo and other stakeholders.

In a press briefing together with Mayor Lobregat after the inauguration, Gov. Tetangco Zamboanga’s banking industry continues to grow citing the total deposits which reached P46.7 billion.

“That is a significant amount and the challenge now here is to be able to use those funds to further push developments in the region”, Gov. Tetangco emphasized. “That shows that there is really a great deal of opportunity, banks here and businessmen together should try and further help in the development of the region and the funding is not a problem as shown by the high level of deposits”. — Sheila Covarrubias