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Thursday, March 19, 2015

Postbank opens in Dipolog

By Mary May A. Abellon

DIPOLOG CITY – The Philippine Postal Savings Bank, Inc. (Postbank) officially opened its new branch here recently with its President and Chief Executive Officer Cesar N. Sarino and Executive Vice President Higenio Fabian gracing the occasion.

Postbank is a government savings bank and a government-owned and controlled corporation created with the end in view of encouraging savings and providing access to financial credit to the “unbanked areas” of the country.

It is different from other government banks like the Land Bank of the Philippines (LBP), which is primarily created to serve the agricultural sector and Development Bank of the Philippines (DBP) which was created for the industry sector, said Sarino.

“We are a government bank and our prime duty is public service,” Sarino told the media men in a press conference.

“The essence of government is service. We may have a missionary task. Second, we are always smiling. We are going to areas that really need our help. And when we are offering our help, it is important that we are smiling. We are more friendly, cooperative and helpful,” he explained.

Accordingly, 37 percent of the total municipalities in the country have no bank at all. That is why Postbank desired to expand their reach to places with no bank and those places with only one rural bank.

Postbank provides services like commercial banking such as loans and deposits. It also offers microbanking services to small entrepreneurs allowing them to borrow at least P5,000.

“We are hoping that through you as members of the local media, you will spread the services we have in Postbank,” Sarino said.

Meanwhile, Postbank has 25 branches in the country and Dipolog was chosen as the center of Postbank in Zamboanga Peninsula.

Postbank will soon be implementing its new financing program in cooperation with Department of Agriculture (DA) and the Zamboanga del Norte Grains Incorporated to help the farmers in the province.

“We are encouraging everyone to open savings account with Postbank for only P500 as an initial deposit,” said Belina G. Domingo, Postbank consultant.