Another Bank To Open Here In Dipolog City
The Philippine Postal Savings Bank (PPSB) is due to open its branch here in Dipolog City on the 23rd of February 2015. This is according to its Vice President for Mindanao Area, Ms. Belina G. Domingo who, together with its Accountant, Ms. Delia Maratas-Pulmones, appeared during the regular session of the Sangguniang Panlungsod last January 20, 2015.
In their courtesy call to the city council of Dipolog, Ms. Domingo stressed that the PPSB is a 100% owned and controlled corporation of the Philippine Government. It is a Savings Bank and a Depository Bank for government funds. They also cater on Small and Medium Scale Industries, provide loans to Local Government Units (LGU) for funding of projects, grant salary loans on government and private employees. They also accept Savings Deposits, Current and Time Deposits.
Domingo said that they already have several branches in other parts of Mindanao island, such as in Cagayan de Oro City, Davao City, Zamboanga City and Manolo Fortich, Bukidnon.
Domingo added that the national office of PPSB was encouraged to have its own branch in Dipolog City after it reviewed the economic profile of Dipolog and found the city to have a vibrant economy.
The Philippine Postal Savings Bank was created through Republic Act 7354, the law which created the Philippine Postal Corporation and the Bureau of Post. The PPSB was already in operation prior to World War II but because its records were destroyed during the war, it was forced to stop operations. In July of 1994, it resumed its operations and again opened its doors to the public.(CIO-MECC)