BPI opens 46 new branches

BANK of the Philippine Islands (BPI) is growing its branch network as it pursues its goal of financial inclusion and increasing access to financial services nationwide.

BPI has opened 15 new BPI branches, four BPI Family Savings Bank branches and 27 BanKo branches and offices across the country, for the first half of 2018.

Joseph Gotuaco, BPI’s head of retail banking and chairman of BPI Direct BanKo, Inc., BPI’s microfinance arm, said the bank is strengthening its presence in provincial areas where bank services can support growing regional economies and their demands for safe and reliable financial services.

“We will continue expanding our branch network to areas that show potential for the need of consumers to transact financially, save, invest, or access credit. We want our branches to be a one-stop shop where clients feel they can have a meaningful relationship with BPI,” Gotuaco said.

BPI currently has 942 BPI, BPI Family and BanKo branches and is expecting to add more branches before the end of the year.

“We are also enhancing the client experience and refurbishing the looks of our branches. This branch expansion is a strategic complement to our digitalization efforts, where in-branch transactions can be largely replicated on our online facility and mobile app,” Gotuaco said.

“We want our clients to have this seamless experience from the branch to our electronic channels. We want them to experience the convenience, innovation, and security that we offer beginning with our branch and extending to our online facility and mobile app,” he added.

The bank recently allocated some P50 billion from its stock rights offering (SRO) on four strategic opportunities that will help the bank in its expansion in 2018.