2023 August – BDO Unibank and its community banking arm BDO Network Bank significantly impacted Palawan province when they recently held their on-the-ground banking activities and empowered communities and businesses with relevant banking solutions.
Through their joint presence in Palawan, BDO and BDO Network Bank have been instrumental in meeting the diverse banking needs of residents and fostering economic growth in the province.
Palawan province, known for its natural beauty and rich biodiversity, is home to many communities and businesses. For their part, BDO and BDO Network Bank recognize the importance of providing accessible, relevant, and meaningful banking services to support the financial aspirations and development of the people and enterprises in Palawan.
With their combined branches strategically located in key cities and the countryside, BDO and BDO Network Bank offer convenient access to a wide range of financial products and services. When needed, individuals can benefit from personalized banking solutions such as savings accounts, loans, micro-insurance, remittance, and investment opportunities.
Meanwhile, businesses can access specialized services such as cash management solutions, online banking, and business loans to support their growth and expansion plans.
“Our presence in Palawan is deeply rooted in our commitment to empowering individuals, businesses, and communities with comprehensive banking solutions,” said BDO Network Bank president Jesus Antonio S. Itchon. “We recognize the unique needs and challenges of the communities and businesses and are dedicated to providing them with the financial tools, support, and guidance necessary for success.”
For one, the bank champions the importance of micro-insurance as it contributes to resilience within underserved communities. For only P500 in premium payment, BDO Network Bank customers can purchase the BDO Life Kabalikat Plan and avail of as much as P600,000 in accidental insurance and up to P9,300 in hospital confinement allowance. It helps individuals and communities recover and rebuild after unexpected events, reducing the financial burden and preventing them from falling deeper into poverty.
Finding ways for communities. BDO and BDONB provide meaningful and relevant banking products and services to remote communities in Palawan through their community day.
Serving the underserved
With its expertise in serving rural and micro-businesses, BDO Network Bank is vital in extending financial services to underserved communities in Palawan. The bank's commitment to financial inclusion and meaningful solutions ensures that even the province's most remote areas can access essential banking services, empowering residents to secure their financial future.
Kabayan Savings, for instance, is a remittance and deposit account for OFWs and beneficiaries. It is the starting point to build their financial foundation. The remittance that is directly deposited to Kabayan Savings provides a platform for saving, investing, starting a business, or preparing for retirement. With Php100 and one valid I.D., one can open Kabayan Savings with ATM debit card and passbook. Special offerings also await account holders, with exclusive promos and events from its partner, SM and affiliates.
Meanwhile, BDO Cash Agad brings banking services closer to the doorstep of communities in remote areas without traditional bank branches, providing convenient access to funds for daily expenses, emergencies, or business needs. Through partner agents such as sari-sari stores, gasoline stations, water refilling stations, and mini-groceries, customers can make cash withdrawals, bills payment, and other basic banking transactions.
Driving financial inclusion. BDO Cash Agad is a financial solution providing convenient access to funds for daily expenses, emergencies, or business needs through partner-agents in remote communities.
After having been recognized as the most desirable destination in the Philippines, the province of Palawan is progressing faster than expected, which is an opportunity for BDO Network Bank to expand its reach and further support the growth of micro-small businesses through its Kabuhayan Loan.
Kabuhayan Loan is a financial solution especially designed for micro, small and medium enterprises (MSMEs) in need of additional funding for business operation or expansion purposes. With flexible terms of payment, business owners can borrow from P30,000 to P500,000 with no collateral.
A number of MSME owners in Palawan expressed their gratitude to BDO and BDO Network Bank’s on-the-ground banking activities, saying, “Ang pagkakaroon ng bangkong ka-partner ay malaking tulong sa aming pamumuhay. Mayroon na kami ngayong safe na mapaglalagyan ng aming income at ipon, may access na rin kami sa loan para mapalago pa ang aming negosyo, at matuto pang lalo ng financial management.”
BDO started its on-the-ground banking activities in 2014. Since then, it has visited various provinces around the country, with Palawan as the 21st provincial area it visited.
