Depositors remain calm: No heavy withdrawals despite Ruby’s threats

CEBU, Philippines - Despite the forecast of another super typhoon to hit the country, which is akin to last year’s Yolanda, bankers in Cebu noted that their clients have remained calm and transactions stayed at normal levels.

“There is nothing unusual in the number of people transacting in the banks," said Cebu Bankers Club president Gino Gonzales in an interview yesterday.

Gonzales who is also the area head of central and Metro Cebu for Philippine National Bank, said that banks have had normal operations since the start of the typhoon forecast this week up until yesterday morning.

CBC past president Prudencio Gesta on the other hand advised the depositing public not to panic as banks have already employed programs for disaster management such as during typhoons.

"We advise the banking public not to panic and not to withdraw big amounts. The typhoon will pass by in hours and banks can easily open for business since we have standby genset for power requirement in case the typhoon would cause power interruptions," said Gesta.

Gesta believes that depositors nowadays are generally updated on the direction of the typhoon, and the possibility that it will not hit Metro Cebu area is one of the few reasons why there is no "unusual" movement or panic behavior among depositors.

"Depositors may be confident also that there are ATM units around that they can withdraw from, in case they need additional money," Gesta added.

Meanwhile, the Bank of the Philippine Islands yesterday issued an advisory for depositors to complete their transactions before typhoon Ruby makes landfall, especially in bank branches located on the path of the typhoon.

The bank, however assured that BPI ATMs will be available for banking transactions provided that there is stable power lines and telecommunication facilities’ available.

BPI clients may also do their transactions online through bpiexpressonline.com.

The business sector in Cebu has already extended assurance of preparations and disaster management programs in their respective companies, owing to the experience of Yolanda last year as their important learning point. (FREEMAN)