The Bangko Sentral ng Pilipinas (BSP) confirmed on Wednesday that it was still working with Visayas banks to restore full banking services more than a month after Typhoon Odette tore through the islands.
In a statement, the BSP said that in the meantime, the affected banks have notified the BSP that they have adopted shortened opening hours following the electricity, telecommunications and Internet disruptions caused by the typhoon.
To expedite their return to full operations, the BSP also reported that the affected banks are currently working with utility companies and other web service providers.
“The BSP also advises residents and consumers in these areas to embrace e-banking and digital payment services when possible and transact at banks and branches located in nearby areas where services are fully operational,” the BSP said.
“The banking community in the affected areas looks forward to the immediate full restoration of public and internet services that will allow banking operations to resume,” he added.
Reports from the National Disaster Risk Reduction and Management Council (NDRRMC) showed that damage to agriculture caused by Typhoon Odette reached 7.684 billion pesos while damage to infrastructure reached 16.9 billion pesos. pesos.
In addition to banking disruptions and damage, BSP Governor Benjamin Diokno said earlier that supply disruptions and agricultural damage caused by Typhoon Odette would likely lead to a “temporary spike in food and other commodity prices.” short-term essentials”.
“BSP will incorporate the impact of the typhoon into its projections once firm estimates become available,” Diokno said.
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