Enough cash in ATMs- BSP Davao

DAVAO CITY, Nov 2 (PI) – Bangko Sentral ng Pilipinas Davao Region assured the public of a sufficient cash supply especially on their Automated Teller Machines (ATM) as Christmas holidays and election season is fast approaching. The issue was raised during the online celebration for the Philippine Statistics Authority’s 32^nd National Statistic Month held last Friday, Oct. 29.

One issue raise during the event was the lack of supply in some ATMs particularly in Tagum City, Davao del Norte.

BSP Acting Director Jane Ann Gonzales clarifies the issue on some indispensible ATMs which is due to the transporting of cash withdrawals from their cash hubs to the different municipalities or neighboring provinces.

Gonzales said, “We assure you that even at the onset of the pandemic, we continuously open our vaults for the servicing of the withdrawals and deposits of our bank here in Davao City”.

Landbank Branch Manager Aurea Bertulfo said, “It’s really a performance indicator for the Branch Manager that we have a 100% ATM cash availability and an online status of our ATMs”.

As to the number of banks in Davao Region, more than half of the banks are within Davao City while 20% of the banking offices are in Davao del Norte and the rest are located in different provinces of the region.

BSP Bank Officer II Dorothy Joy Diaz said that the total number of banking offices in Davao Region from 2011 up to the 2^nd quarter of 2021, recorded the highest number at 79 offices on Universal and Commercial Banks while Thrift Banks with 72 offices, Rural and Cooperative Banks in the region with 12 offices.

Davao Region’s Bank density ratio increased from 6.9 in 2011 to 10.3 in June 2021. This refers to the ratio of the total number of domestic banking offices and total number of cities or municipalities in a given area.

“Tumataas po ang presence ng banking system po dito sa Davao Region (Our banking system is increasing in the Davao Region) if there are more banking offices in the region that would mean higher density ratio,” Diaz saiud

Meanwhile, the total number of ATMs in the region soared to 84% from 480 units in 2012 rose to 883 units as of June 2021 while the bulk of the region’s ATMs are those in Universal and Commercial Banks. ATMs serve as essential services in the banking system due to the easier access of clients getting cash from the bank. (PIA XI/Elvira May Suico)

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