Monetary Board Member Juan De ZuAiga, BSP Deputy Governor Diwa C. Guinigundo, and Honorable City Mayor Bernard Faustino M. Dy, today led the groundbreaking and time capsule ceremony at the future site of the BSP Cauayan Branch, in Cauayan City, Isabela Province.

The establishment of the BSP Cauayan Branch was approved by the Monetary Board on 08 June 2017. This is in recognition of the status of Isabela province as a vibrant growth area in the Northeastern corridor of Luzon, and of the stature of the City of Cauayan as the Ideal City of the North.

The location on which the Branch will stand is a 7,000 square meter property that was donated to the BSP through the generosity of the Cauayan City Government, as spearheaded by the Honorable Mayor Dy. Said property is situated at the heart of the financial district being developed in the Barrio of Tagaran, in line with the City's long-term development plan.

Likewise, the structure to be constructed in Cauayan will be the first BSP branch to adopt the Next Generation branch design following the cash center model, which focuses on the Bank's capacity to effectively, efficiently, and responsively serve the currency requirements of banks under its jurisdiction.

With this, the BSP Cauayan Branch will further expand the Bank's capacity in delivering essential central banking services to the City of Cauayan, as well as throughout Isabela and the nearby provinces of Quirino, Nueva Vizcaya, and certain parts of the Cordillera Administrative Region. Moreover, as with other BSP regional offices and branches, the Bank's presence is expected to serve as added catalyst for economic and financial growth in Metropolitan Cauayan, and its surrounding areas and provinces.

Source: Bangko Sentral ng Pilipinas (BSP)