Banks stay open after Leyte earthquake

MANILA, Philippines – The Bankers Association of the Philippines (BAP) announced that member banks with branches in areas affected by the recent Leyte earthquake will “deliver normal banking operations” to serve clients.

“We endeavor to deliver normal banking operations particularly in the areas that were most affected,” the BAP said in a public service announcement on Saturday, July 8.

These areas include the provinces of Leyte, Cebu, Bohol, and other nearby provinces affected by this week’s magnitude 6.5 earthquake.

The earthquake that killed at least two people struck off Jaro, Leyte, at 4:03 pm Thursday, July 6. (READ: Metro Manila should learn from Leyte earthquake – Phivolcs)

“Our member banks have advised its respective branches to strive delivering its services to the general public and accommodate all banking transactions, most especially in this time of need,” the BAP said.

The Bangko Sentral ng Pilipinas (BSP), meanwhile, said it is already assessing the situation in the affected areas, with banks evaluating the earthquake’s impact on their operations.

“Banks are assessing the damage but our banks are geared to recover quickly as soon as possible,” BSP Governor Nestor Espenilla Jr said.

The BSP has issued guidelines requiring banks and financial institutions to devise their own business continuity management plans to ensure that bank operations can withstand major disruptions like earthquakes. – Rappler.com