BSP Ensures Banking Services Continue in Storm-Hit Masbate

The Bangko Sentral ng Pilipinas (BSP) announced that its Legazpi branch is actively coordinating with financial institutions in Masbate to ensure banking operations remain available following the devastation caused by Severe Tropical Storm Opong. The BSP confirmed that cash needs of banks in the province are being met, and emergency withdrawals can be accommodated as necessary.

Despite damages to infrastructure and communication lines, financial services continue through various channels, including money service businesses and digital platforms. These measures aim to support residents and local businesses as they recover from the storm’s impact and rebuild essential community services.

By Thursday noon, all banks in Masbate had resumed operations according to the Masbate Bankers Association, though some ATMs remain offline due to connectivity issues. Over-the-counter services are available to help maintain smooth financial transactions and access to funds during recovery.

The BSP reaffirmed its commitment to maintaining financial stability and ensuring that communities in disaster-affected areas can continue to access vital banking services. Sustaining these operations is a crucial part of the broader effort to revive the local economy and support families affected by the storm.

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