CAGAYAN de Oro City has achieved second place in Mindanao for bank deposits in 2024, totaling P163.39 billion, according to the Bangko Sentral ng Pilipinas (BSP).

This positions the city just behind Davao City, which leads with P336.29 billion.

This significant achievement highlights Cagayan de Oro’s thriving economic landscape and effective leadership under Mayor Rolando ‘Klarex’ Uy, Vice Mayor Jocelyn ‘Bebot’ Rodriguez, and the 20th City Council.

During a campaign event by the One Kagay-an coalition, Uy stated that the rise in bank deposits reflects strong public confidence in local governance and aligns closely with the One Kagay-an Coalition’s Heed Rise Agenda.

GOOD GOVERNANCE. Under the leadership of Mayor Rolando ‘Klarex’ Uy, the Cagayan de Oro City government received several honors, including its first-ever Seal of Good Local Governance award from the Department of the Interior and Local Government. (Supplied photo)

The Heed Rise Agenda, according to Uy, focuses on addressing vital community needs in health, education, employment, and sustainable development.

Spearheaded by the coalition, this initiative aims to improve residents’ quality of life through strategic investments in essential services and infrastructure.

City Mayor’s Office Chief of Staff Sheila Lumbatan emphasized that the increase in bank deposits not only signifies financial stability but also fosters a supportive environment for local businesses and entrepreneurs, encouraging investment and job creation.

As Cagayan de Oro continues to flourish, Lumbatan noted that the Heed Rise Agenda remains essential for translating this growth into tangible benefits for the community.

With other Mindanao cities like Cotabato City (P117.78 billion), Zamboanga City (P88.95 billion), and General Santos City (P64.91 billion) trailing, Cagayan de Oro is well-positioned to leverage its financial success for further economic enhancement.

The city government, under the Uy administration, is committed to enhancing the services offered by City Hall to the people of Cagayan de Oro.

Lumbatan added that being second in bank deposits in Mindanao is a key component of Uy’s RISE (Regional Leadership, Institutional Development, Safety and Security, and Economic Recovery) agenda, which contributed to the city being awarded the ‘Seal of Good Local Governance’ in 2023.

Under the visionary leadership of Mayor Klarex, Lumbatan pointed out that the city government has received the esteemed Department of Interior and Local Government SGLG award for the first time.