The Bangko Sentral ng Pilipinas (BSP) recently inaugurated the expansion of its Lucena branch building. The inauguration was led by BSP Governor Amando Tetangco, Jr. (second to right of center), Quezon Governor David Suarez (left of center), and Lucena Mayor Roderick Alcala (right of center). Also present were (from right) BSP Deputy Governors Vicente Aquino and Nestor Espenilla, Jr., BSP Lucena Branch Head Atty. Tomas Cariño, Jr., BSP Deputy Governor Diwa Guinigundo and Monetary Board Members Armando Suratos, Alfredo Antonio, Juan De Zuñiga, Jr., Felipe Medalla and Valentin Araneta. The expansion is part of the BSP’s efforts to serve sustained economic growth in Calabarzon and Mimaropa. Latest data indicate that the two regions have about 1,800 bank branches that have a combined deposit base of over P578 billion and aggregate loan portfolio of about P122 billion. The expanded section of the building also houses BSP Lucena Branch’s Economic and Financial Learning Center which focuses on delivering relevant information concerning economic and financial matters to the public. After the inauguration, the weekly meeting of the Monetary Board and a briefing on the upcoming demonetization of the old series banknotes were also conducted.