BPI looking to set up BanKo branch in ARMM, 14 others in Mindanao

VALENCIA, BUKIDNON — Ayala-led Bank of the Philippine Islands (BPI) is planning to open a branch of its microfinance subsidiary BPI Direct BanKo Inc. (BanKo) within the Autonomous Region in Muslim Mindanao (ARMM) and 14 other sites in Mindanao.

BPI Retail Banking head Joseph Albert L. Gotuaco, also the chairman and executive vice-president of BanKo, said the ARMM branch would still take time, but it would most likely be tied with the entry of other Ayala companies in the region.

“First of all, it takes time because we can’t just say ‘Hey, we want to go there’. For example, we are very interested in opening in Marawi, that’s pretty daring but siyempre (of course) we have to figure out ways, find location, and hire people,” Mr. Gotuaco said in an interview during the Feb. 27 opening of its BanKo branch in Valencia.

He added that they have to work with other companies in the Ayala Group, such as Ayala Land, Inc., which has already expressed its intent to invest in the ARMM.

In the meantime, BanKo is targeting to open 14 new branches in Mindanao within the year.

The microfinance institution currently has 19 branches in Mindanao out of its nationwide network of 103.

Data provided by BanKo indicates that there are more than 166,00 micro, small and medium enterprises (MSMEs) in Mindanao, the market that it aims to serve.

BanKo currently offers financing to MSMEs from a minimum of P25,000 to P300,000, with no collateral required for loans up to P100,000. —