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PIA Press Release

PGMA opens Region 3 BSP branch in Pampanga

San Fernando, Pampanga (18 June) -- President Gloria Macapagal Arroyo inaugurated yesterday (June 17) the new regional branch in Central Luzon of the Bangko Sentral ng Pilipinas (BSP).

The President led the ceremonial ribbon-cutting and marker unveiling at the foyer of the new building to formally open BSP operations in the region.

Built at a cost of more than P100 million, the two-storey BSP San Fernando regional office sits on a 5,400 square meter lot in Barangay Sindalan along MacArthur Highway, with an effective floor area of 3,110 sqm.

Joining the President in opening the BSP's 18th regional office were BSP Governor Amando Tetangco Jr. Finance Secretary Margarito Teves, San Fernando City Mayor Oscar Rodriguez, Monetary Board Member and former Trade Secretary Peter Favila and National Historical Commission chairman Ambeth Ocampo.

In addition to the regular office features of a regular BSP regional office, the San Fernando City branch boasts of a library which the public, mainly businessmen, students and residents, may use.

According to Fe De La Cruz, BSP Corporate Affairs Director, the BSP San Fernando branch will be fully operational by August this year as soon as the office's entire operations and employee base have been moved from their former Angeles City office.

After the inaugural ceremonies, the President witnessed the signing of two Memorandum of Agreements (MOA) among the BSP, the Department of Finance (DOF), the National Historical Commission (NHC), and the National Government (NG).

First was the MoA turning over P400-million worth of property dividends from the BSP to the National Government through DOF.

Second was the MoA turning over the Pamintuan House, the former BSP-Region III office in Angeles City, Pampanga, by the DoF to the NHC.

The Pamintuan House is best remembered as the venue of the first anniversary celebration of the Philippine Independence held in June 1899.

The BSP, led by Tetangco also presented the Chief Executive a commemorative medallion as a token of the agency's appreciation for her untiring efforts to improve the economy through a slew of economic and financial reforms that have been instrumental for the stable showing of the country's progress. (PIA) [top]

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