DBP installs ATMs in underbanked Palawan towns

BUSINESS
November 4, 2019

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In support of the national government’s efforts to promote greater financial inclusion, state-owned Development Bank of the Philippines (DBP) recently installed offsite automated teller machines (ATMs) in the underbanked municipalities of Quezon and Narra in Palawan, a top official said.
    
President and chief executive officer of DBP, Emmanuel Herbosa, said in a news release issued on Wednesday that the installation of the ATMs mirrors the bank’s commitment to promote financial inclusion, especially in underbanked and unserved areas of the country.
    
“These newly-installed ATMs will provide 24/7 electronic banking services to nearly 200,000 residents of the municipalities of Quezon and Narra, Palawan and the neighboring unbanked town of Rizal,” hesaid.
    
While classified as first-class municipalities, both Narra and Quezon, Palawan are underbanked with only two rural banks operating in these areas.
    
These towns are also more than two hours away from the provincial capital, Puerto Princesa City. (PR)

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