STATE-OWNED Development Bank of the Philippines (DBP) in a statement said it opened on Dec. 7 a new branch located in Taytay, Palawan, as part of its continuing branch expansion program. DBP President and CEO Cecilia C. Borromeo said the opening of the DBP Taytay-Palawan branch mirrors the bank’s commitment to support the economic growth prospects of the province and bring more unbanked Filipinos into the financial mainstream. “There is tremendous growth happening not only in Puerto Princesa, but also in El Nido, Coron, Roxas, San Vicente and, of course, Taytay and the other municipalities of northern Palawan,” she noted to guests during the inauguration. Ms. Borromeo added that DBP is rolling out numerous initiatives for its clients and other valued stakeholders. She also cited DBP’s continued support for the micro, small and medium enterprise sector, adding “DBP will also be financing the various development initiatives of electric distribution utilities, water districts and local government units.” DBP currently has 125 branches offering a full range of banking and project financing products and services, and also has extension offices in Naguilian, La Union; Cabugao, Ilocos Sur; and Bayugan, Agusan del Sur.