BSP honors Visayas institutionsfor advancing financial inclusion

CEBU, Philippines — The Bangko Sentral ng Pilipinas (BSP) is leaning on banks, cooperatives and other institutions across the Visayas to broaden digital payments and financial access as economic activity accelerates outside the country’s traditional growth centers.

Nine institutions were recognized by the central bank on Sept. 14 for helping strengthen financial stability, expand access to financial services and promote digital payments and financial literacy across the region.

The push comes as the Visayas assumes a larger role in the Philippine economy. Western Visayas was the country’s fastest-growing region in 2025, while Central Visayas remained the largest regional economy outside Luzon, BSP Monetary Board Member Walter Wassmer said.

Eastern Visayas is also attracting new investment, including about P60 billion in energy projects, while a new international airport is expected to open in the region, he said.

The developments are increasing the need for financial infrastructure that can support businesses and households beyond major urban centers.

BSP Deputy Governor Bernadette Romulo-Puyat said maintaining confidence in the financial system requires cooperation with institutions that deliver banking, payments and cash services directly to communities.

“When I think about what makes a financial system work well, I think about trust,” Puyat said at the 2026 Outstanding BSP Stakeholders Appreciation Ceremony in Cebu City.

BSP needs partners to ensure that cash is available where it is needed, protect the currency from counterfeiting and keep financial services operating during emergencies, she said.

The institutions recognized this year have also helped bring digital payments closer to consumers through QR Ph Plus, while supporting the distribution of fit and genuine Philippine currency.

Financial literacy programs are another part of the effort, with the BSP seeking to improve consumers’ ability to manage money, make informed financial decisions and participate in the formal economy.

The awardees included eight BSP-supervised institutions: Land Bank of the Philippines-Cebu Osmeña Branch, Metropolitan Bank & Trust Co.-Cebu CMSU, LandBank Cash Operations Unit-Bacolod, LandBank-Dumaguete Branch, LandBank Cash Operations Unit-Iloilo, LandBank-Roxas Branch, LandBank-Tacloban Branch and BDO Network Bank-Iloilo Robinsons Branch.

Perpetual Help Community Cooperative was recognized under the private institutions and organizations category.

Wassmer said the partnerships allow the BSP’s mandates to reach communities and businesses more directly, particularly as the region’s economies expand.

“With your support, we can better protect consumers, combat financial fraud, and strengthen public trust in our financial system,” he said.

The Outstanding BSP Stakeholders Appreciation Ceremony has recognized institutions supporting the central bank’s mandates and advocacies since 2004.

The Cebu event followed earlier ceremonies covering Metro Manila, North Luzon and South Luzon. A similar recognition program for BSP partners in Mindanao is scheduled later this month.

Puyat said continued cooperation would be needed as financial services become more digital and the central bank seeks to build a system that is more inclusive and resilient.

“More importantly, you are helping prepare Filipinos to navigate the future with greater knowledge and confidence,” she said.