province. Industry Masbate's main products are copra and marine resources such as fish. These are traded to Manila, Lucena, Legazpi, and Cebu cities. Other traded products such as dried fish, crabs, prawn, bangus, livestock, and rice are coming from the neighboring or nearby municipalities on the island. Trading relations The city has existing trading relations with Manila, Iligan, Lucena, Daet, Legazpi, Naga, Sorsogon, Panay, Negros, Cebu, Bohol, Ormoc, Calbayog and Tacloban. These are the main destinations of the products traded by the city and those of the other municipalities passing through the city's port. Copra, cattle and aquamarine products are also shipped-out to Manila, Cebu, Batangas and Lucena, etc. Shrimps, crabs and prawns are shipped to Japan, mud crabs to Taiwan, headless squid to United States of America and Japan, crab meat to U.S.A. and scallops to Europe. The city is importing products mainly from Manila, Lucena, Cebu and Legazpi. These are mostly rice, bakery raw materials, transport vehicles and appliances, farm inputs, construction materials and basic commodities. These are also traded by the city to other municipalities in the whole province. Banking and finance Masbate City is the Financial Center of Masbate Province. The total number of Banks in the city is 15, consisting of different Government-owned Banks, Universal Bank, Commercial Banks, Rural Banks, Development Banks and Thrift Banks. Banco de Oro or BDO which is the country's largest bank in terms of assets open its first branch in the entire province in the city. Shopping malls LCC Mall and Gaisano Capital Masbate are the only two shopping malls in the city. LCC Masbate is located at Barangay Bapor, Zurbito St. Port Area, while Gaisano Capital Masbate is located in Cagba St. Tourism Festivals and events Pagdayao Festival This festival honors, praises and give thanks to the city's Patron Saint Anthony of Padua every June 13 of the year. Lapay Bantigue Dance Festival It is celebrated during the City Anniversary on 30th day of September. This event highlights the traditional folk dance created by "Lola Felisa" many years ago, when she imitated the graceful movement of the seagull (locally known as Lapay). The dance has evolved and is now recognized by the Cultural Center of the Philippines as one of the official folk dances of the country. This dance was also recognized during the Spanish Colonization. Rodeo Masbateño It is the only rodeo show in Asia. It is celebrated