Home News Cagayan Valley Cagayan Valley economy ‘booming’- BSP

Cagayan Valley economy ‘booming’- BSP

TUGUEGARAO CITY, Philippines- The Bangko Sentral ng Pilipinas (BSP) here said the Cagayan Valley Region has maintained its steady and sound economic activities as proven by the increasing cash deposits and withdrawals of various banks regionwide.

Susie O. Fiesta, BSP deputy director, said the BSP Tuguegarao branch is now number 1 in terms of deposits and withdrawals in the entire Luzon area which is attributed to the healthy flow of finances by the business industries as well as income earners in the region.

Fiesta said BSP Tuguegarao branch caters to seven provinces namely; Cagayan, Isabela, Batanes, Nueva Vizcaya, Quirino, Apayao, and Kalinga.

“The peak season of our withdrawals and deposits are during harvest and Christmas seasons and the limits of banks have also increased. This really manifests the healthy flow of finances in our region,” Fiesta said.

She said that with these developments, another branch in Cauayan City will be opened soon to cater those in the central and southern Isabela areas, including the provinces of Nueva Vizcaya, and Quirino.

The BSP official said, as of now, there were already 33 bank clients of the BSP in the region catering to millions of depositors. Oliver Baccay/PIA/Northernforum.net

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