BSP cites BOF for prudential reporting

CITY OF SAN FERNANDO -- The Bangko Sentral ng Pilipinas (BSP) on Wednesday, July 10, recognized Bank of Florida for consistency in prudential reporting innovation in ceremonies held at the Cafetorium of the Central Bank.

During the Awards Ceremony and Appreciation Lunch for BSP Stakeholders themed “One Team One Goal: Resilient Partnership Towards Inclusive Economic Growth,” the BSP recognized its outstanding partners that have supported its various initiatives and advocacy programs in 2018, with BOF receiving the special citation for prudential reporting innovation.

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said that BOF has been chosen as this year’s recipient of the award “for consistency in prudential reporting, for your company’s exemplary support and collaboration with the Bangko Sentral ng Pilipinas.”

For BOF President and CEO Teresa David-Carlos, the special citation is proof that the bank grows stronger each year, as it marked its 55th year recently.

“May we always look back to evolve. Stronger and stronger each year. To further strengthen the position of BOF,” she said.

David-Carlos shared that BOF’s total assets grew to P3.35 billion as of December 31, 2018 with an increase of P909 million compared to 2014 assets of P2.44 billion. Moreover, total deposits grew to P2.5 billion and total loans increased to P2.3 billion as of December 31, 2018.

“We have expanded our number of branches to 18 when we opened our Macabebe Branch on August 8, 2018. And this 2019 we will continue to expand our branch network in the coming years. We are looking forward to opening an additional branch in Plaza Burgos in Guagua, Pampanga this third quarter of the year,” she shared.

More good news

“Another good news is that the Philippine Clearing House Corporation or the PCHC, has already approved BOF to directly participate in the clearing of checks and with this, local checks transacted with BOF within the cut-off time will be cleared the next banking day, similar to the system of universal banks,” she said.

“And just recently we have been granted the approval of membership with the Philippine Daynant Management, Incorporated to strengthen and support the National Payment Retail System or NPRS, a mandate of the Bangko Sentral ng Pilipinas. In line with this, we have undergone training with the Philippine Clearing House Corporation in preparation to offering PesoNet, which is a new electronic fund transfer service that enables customers or e-money issuers or mobile money operators to transfer funds in Philippine peso currency to another customer of other participating banks,” David-Carlos added.

She furthered that on May 24, 2018 the People Management Association of the Philippines recognized BOF as one of its three finalists under the category of “Employer of the Year in Luzon” during the PMAP 42nd awards ceremony in Baguio City.

“This was yet another milestone for BOF in its pursuit to be a regional champion, not only with clients but also to the entire BOF community. That is why, as we look back, we also keep thinking forward and act to become the employer of choice,” David-Carlos said. (JTD)


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