Banking sector urged to help promote South Cotabato’s potentials

KORONADAL CITY(MindaNews/15 September)—The growing banking sector in South Cotabato is a welcome development that would help the provincial government erase unkind perceptions about the peace and order situation in the province while opening chances of a healthy economy, Governor Arthur Y. Pingoy Jr. said.

At the recent blessing of the Development Bank of the Philippines’ (DBP) newly renovated building here, Pingoy urged bank officials from Manila to be ambassadors of goodwill about the “vibrant economy” and peaceful situation of the province.

“In reality, South Cotabato is blessed with natural resources and we [have good] human resources. People here are very warm,” Pingoy said.

Mariela Luz Cortez, DBP Marbel branch head, said the bank’s renovation includes expanding the lobby to accommodate more clients. She also noted that there were no service interruptions while the branch was under repair.

“The building’s renovation and expansion is our move to better serve the customers,” Cortez said.

Pingoy said the expansion of DBP in Koronadal indicates that “South Cotabato is moving progressively.”

He said that DBP has been a partner of the provincial government in many of its financial undertakings for rural improvement projects.

Neogen Chaves, DBP regional head, said that through the years, DBP has been a key player in nation-building by assisting local government units and promoting entrepreneurship in the countryside, helping build more productive communities, and advancing environmental protection.

According to the DBP website, the state-owned bank’s gross loan portfolio increased by 5.82 percent from P169.3 billion last year to P179.17 billion this year, P118 billion of which were intended for loan borrowers.

In South Cotabato, DBP is the financial institution partner of the Bangko Sentral ng Pilipinas in the Credit Surety Fund (CSF) program that helps small entrepreneurs avail loans for their business without a collateral.

Just recently, DBP released a P10 million check to the South Cotabato Medical Cooperative under the CSF program. (AC/MindaNews)