Bangko Sentral ng Pilipinas is now ready to serve Butuan and Caraga Region which will be inaugurated on November 26, 2014 in Butuan City. The long wait is over for all Butuanons and Caraganons to have the head of all financial institutions in the country is installed officially making the sixth branch in Mindanao and nineteenth branch in the country.
The Chairman of the Monetary Board and Governor of Bangko Sentral ng Pilipinas Amando M. Tetangco, Jr. led the cutting of ribbon and unveiling of the BSP Butuan Marker with other members of the BSP Monetary Board, Butuan City Mayor Ferdinand Amante, Agusan del Norte Governor Erlpe John Amante, former Congressman Jose Rufino Aquino II were also present.
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.
Gov. Tetangco said that BSP will help boost 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.
Meanwhile, Butuan City Mayor Ferdinand Amante, Jr. expressed his jubilation the presence of BSP Butuan branch as it is an indication that the city’s economy is improving and growing and that there is enough cash flow in the region to warrant the presence of Bangko Sentral ng Pilipinas.
“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 is mandated to carry out its three pillars of strength: Price Stability, Financial Institutions’ Stability, and Payments and Settlements System Efficiency.