DBP installs ATMs in Palawan towns

STATE-OWNED Development Bank of the Philippines (DBP) has installed automated teller machines (ATM) in two Palawan towns as part of its financial inclusion program in remote parts of the country. The ATMs, located in the municipalities of Quezon and Narra, will provide 24/7 electronic banking services to some 200,000 residents, DBP President and Chief Executive Officer Emmanuel G. Herbosa said in a statement on Wednesday. He added that the facilities will also benefit residents of the “neighboring unbanked town of Rizal.”

P5B bond offering. Meanwhile, DPB is also set to issue and list its two-year bond offering worth P5 billion on Nov. 11, the first tranche of its P50-billion program under its Sustainability Finance Framework. The fundraising activity is intended to finance eligible environmental and social projects. The bank’s first-half net earnings grew 12.3% year-on-year to P3.1 billion, boosted by lending growth. — Beatrice M. Laforga