The proposed Bohol Branch of the BangkoSentralngPilipinas (BSP) is under review.
This was the latest update of BSP Deputy Governor Elmore Capule to Cong. Edgar Chatto.
In an official communication, Capule stated that the BSP is conducting a study on the establishment of the BSP branch in Barangay Tinago, Dauis.
The Department of Finance (DOF) confirmed this development through Usec. Rolando Tungpalan.
Chatto has been pushing for the BSP Bohol Branch to be set up.
In February, BSP Governor Eli Remolona, paid a visit to the project site.
Chatto had also met with Remolona at the House of Representatives after the Development Budget Coordination Committee Meeting for the 2025 National Budget.
The project had been given a favorable rating by the Department of Industrial Engineering and Operations Research, National Engineering Center of the University of the Philippines (UP) in its study on the “BangkoSentralngPilipinas Branch Rationalization Study Final Report.”
The project has been in the pipeline of Bohol’s major development agenda in order to support the province’s thriving banking sector.
Chatto was then governor when a groundbreaking was held with the late Governor Nestor Espenilla. This was after the approval by the Monetary Board during the term of then Governor AmandoTetangco.
The project remains crucial to Bohol’s economic growth and is strongly backed by the Bohol Bankers Association.
The facility is said to address the province’s need for a cash distribution system and ensure the security of bulk cash transfers, objectives raised by the association in a position paper.
The BSP branch in Bohol is also proposed to become a Learning Center and Post for Visayas and Mindanao bank examiners.