BDO Network Bank Brings Practical Banking Closer to Filipino Communities
BDO Network Bank Brings Practical Banking Closer to Filipino Communities Mindanao Times
In a concerted effort to enhance financial inclusion across the Philippines, BDO Network Bank (BDONB), the community banking arm of BDO Unibank, is making significant strides in delivering accessible and practical banking solutions to underserved and remote communities.Wikipedia+3BDO+3FinanceAsia+3
Empowering Local Entrepreneurs
In Dapa, Siargao, entrepreneur Ohnello Nohara and his wife have transformed their modest stall into a thriving general merchandise store. A pivotal factor in their success has been BDONB's deposit pick-up service, which allows them to deposit earnings without leaving their store. "Before, I had to travel for hours just to deposit our earnings," Ohnello shared. "Now, BDO Network Bank sends someone to our store. That saves me time and allows me to focus on growing the business."Mindanao Times+2Mindanao Times+2Ground News+2BDO
Similarly, Catherine Agacite, a single mother and small business owner in Siargao, expanded her fruit stand into multiple stalls with the help of a business loan from BDONB. "Repayments are automatically deducted from my account," Catherine noted. "It's one less thing to worry about while running the business."
Tailored Financial Services
BDONB offers a range of services designed to meet the unique needs of various communities:
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Starter Savings Accounts: Accessible with an initial deposit as low as P100.Mindanao Times
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Non-Collateral Business Loans: Providing small business owners with the capital needed for growth.Mindanao Times+1BDO+1
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Micro-Insurance: Affordable coverage starting at P500 per year, including daily cash compensation during hospital confinement.
Field officers regularly visit local markets and stores, assisting clients with deposits and offering support directly at their places of business.Mindanao Times
Community Engagement through "Mini Fiesta"
To further its mission, BDONB organizes "Mini Fiesta" events—community gatherings that combine entertainment, games, and financial education. Held in town plazas, barangay halls, schools, and markets, these events aim to help Filipinos open their first savings accounts and embark on their financial journeys.Mindanao Times
Expanding Reach with Thrift Bank License
With its newly granted thrift bank license, BDONB is poised to widen its reach and deepen its impact, especially in areas still underserved by traditional financial institutions.Mindanao Times
For individuals like Ohnello and Catherine, banking has become more accessible and personal, enabling them to focus on growing their businesses and securing their financial futures.Ground News+2Mindanao Times+2Mindanao Times+2
Source: Mindanao Times
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