The Philippine Postal Savings Bank, Inc. (PPSBI) launched a new branch last July 7, 2016 for its Micro Finance Banking Office in San Jose, Camarines Sur in full cooperation with the local government unit under the administration of the Municipal Mayor Antonio B. Chavez.
The launching, blessing and inauguration was personally attended by Mr. Cesar Sarino, President and CEO of Philippine Postal Bank, Inc. together with PPSBI Executive Vice President, Mr. Higino Fabian; and Assistant Vice President/ Head-Microfinance Department, Mr. Allan Orogo. The blessing was celebrated by Rev. Fr. Wilfredo V. Almoneda, Parish Priest of the Saint Joseph Parish while Vice Mayor Virgilio E. Panuelos and Mr. Manny D. Clidoro, the Municipal Administrator, represented the LGU-San Jose during the occasion.
In an exclusive interview, Mr. Sarino said that the mission of PPSBI is to provide financial services in the countryside where there is high incidence of poverty and unemployment, to this effect the micro-banking office will surely help the people mobilize their savings and make it available for micro-financing program for individuals and organized groups in the town and other adjoining places. Thus, the bank chief aim of the bank is to provide financial services to both the unbanked and under-served localities like San Jose and other areas where micro-financial service are not available.
The target clientele of the micro-finance banking office at San Jose are the micro-entrepreneurs such as the street vendors, sari-sari store owners, bus and jeepney drivers and conductors, farmers, and those engaged in poultry business and others, Sarino further stressed.
On the other hand, Mr. Orogo stressed that in regular and small loans, the bank will be able to fill in the gap of poverty and unemployment, given that their target clients will be able to obtain the different financial services offered in order to give them the opportunity of increasing their income. Thus, we can expect that the PPSBI will be a stronger vehicle for local micro-entrepreneurs that would focus more on countryside development.
Meanwhile, PPSBI Executive Vice President, Mr. Higino Fabian when interviewed further said that the bank will be promoting savings modernization with their micro deposit program. He further said that their employees promote friendly and excellent services, integrity and transparency; as well as organizational cohesiveness and unity in purpose to serve the best for their clients. The bank aggressively undertakes its core banking functions while simultaneously pursuing its vision to be the government’s authentic rural area development bank.