The Bangko Sentral ng Pilipinas (BSP) said it has been meeting the cash requirements of banks operating in Masbate, after the province was battered by Severe Tropical Storm Ompong.
In a statement on Thursday, the central bank said its Legazpi branch has been coordinating with local financial institutions to ensure the availability of banking services. It also informed banks that it can accommodate emergency withdrawals if necessary.
While some bank branches have yet to reopen, residents can still access funds through alternative channels, including money service businesses offering cash-out services.
‘The BSP will continue to closely monitor the situation to meet the cash and banking needs of the people,’ the central bank said.
Ompong (international name: Bualoi) carved a deadly path through the Bicol and Visayas regions last week, forcing thousands of storm-weary families to flee homes and huddle on school floors. The storm left at least 14 people dead, as it triggered widespread flooding, landslides and power outages. /dda