• West Visayas bank sector sets aside P36B for loans

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    ILOILO CITY: Western Visayan economy posted positive growth and enjoys brisk business confidence, according to Bangko Sentral ng Pilipinas (BSP) Deputy Director Fernando Silvoza.

    In his presentation on development indicators of the Visayas during the 2013 Awards Ceremony for BSP Stakeholders in the region held here Tuesday, Silvoza said the banks in the Visayas has P36 billion for loans with a deposit generation of 1.3 percent growth rate.

    This contributed largely to the economic growth of the Visayas at 8.2 percent, which is higher than the national average.

    Visayas has a spread of 9,486 commercial bank branches. Western Visayas is home to more banks with Iloilo having the highest number of bank branches at 86 percent and 31 percent as head offices.

    While commercial and universal banks are mostly in Negros Occidental, the city and province of Iloilo has the most number of thrift banks, rural banks and cooperative banks.

    Similarly, BSP Deputy Governor Diwa Guinigundo said that Western Visayas has lots of things to show and is optimistic in the manufacturing, construction and tourism sectors.

    Lydia C. Pendon

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