Catbalogan has the most number of banks in Samar island

On the lead is Catbalogan City, having the most number of banks in Samar island and the third along with Ormoc City in the whole Eastern Visayas region.

This was reflected in the latest data as of September 2018 from the Bangko Sentral ng Pilipinas (BSP) along with the actual count of banks in the city, which some just recently opened in 2019.

Banks according to BSP are categorized into three (3), namely: Universal and Commercial Banks (UCB); Thrift Banks (TB) or Savings Banks; and the Rural and Cooperative Banks (RCB).

There are nine (9) UCB in Catbalogan and these are BDO Unibank, Inc. (BDO); Metropolitan Bank and Trust Company (Metrobank); Land Bank of the Philippines (Landbank); Philippine National Bank (PNB); China Banking Corporation (Chinabank); Development Bank of the Philippines (DBP); Rizal Commercial Banking Corporation (RCBC); East West Banking Corporation (EastWest Bank); and Asia United Bank Corporation (AUB).

For SB, there are four (4) and these are BPI Family Savings Bank – Samar, CatbaloganPhilippine Business Bank (PBB); First Consolidated Bank, Inc.; and the BPI Direct BanKo, Inc. while there are only one (1) RCB and this is the CARD Bank, Inc. 

Topping the list is Tacloban City with a total of 53 banks, Ormoc City with 30 banks, Maasin City with 14 banks; Calbayog City with 13 banks; Baybay City with 9 banks; and Borongan City also with 9 banks.

In another report from BSP, it was estimated that more than half of the money flow in the province are in Catbalogan and it has recorded in 2017 with the highest number of deposit accounts in the whole island of Samar describing of a higher economic and commercial activity in the city compared to other cities in the island.

This standing firmly sets Catbalogan as the island’s financial, economic, commercial, institutional and political center of Samar.

(Report by Ador Hurtado)

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