BPI Direct BanKo expands presence throughout the country
29 May 2022
Ayala’s Bank of the Philippine Islands (BPI) is growing its microfinance arm to cover more unserved and underprivileged areas throughout the country.
Rodolfo Mabiasen Jr., chief of financial inclusion and microfinance solutions at BPI Direct BanKo, announced the opening of nine new branches across the country to assist self-employed microentrepreneurs (SEMEs).
“The expansion of BanKo into various communities around the country is part of our goal to broaden our presence as we face the difficulties of the pandemic.”
“Now that we’ve regained our footing, we’re opening new branches at a rapid pace to accomplish our goal of providing financial services to more people and supporting more small businesses to flourish,” Mabiasen added.
The newest BPI Direct BanKo branches are located in Coron, Palawan; Bocaue, Bulacan; Zaraga, Iloilo; Banate, Iloilo; Dagupan, Pangasinan; Mangatarem, Pangasinan; Manaog, Pangasinan; Isulan, Sultan Kudarat; and Malungon, Sarangani.
It now has 309 sites across the country, offering clients a straightforward and affordable business cash loan to assist small and medium-sized businesses in growing and expanding.
In their new locations, BanKo will be able to provide their clients simple and reasonable loan solutions, such as the BanKo NegosyoKo Loan, a cash loan product that provides SEMEs with additional capital to help them expand their businesses.
BanKoPares and BanKoMares, BanKo’s street-savvy financial counselors, will educate SEMEs on how to handle their funds and help them submit loan requests.
Borrowers can qualify for working capital and minor company expansion loans ranging from P25,000 to P300,000.
BanKo has expanded to 74 provinces around the country, with a total of 309 shops.
According to the Bangko Sentral ng Pilipinas, BanKo is the country’s tenth largest thrift bank in terms of assets and capital, with P18.44 billion and P3.2 billion, respectively, as of December 2021. (BSP).
BanKo ranked 11th in deposits with P14.28 billion and 10th in loans and receivables with P11.27 billion at the end of December.
