BPI to open 3 more branches in Cebu

The Freeman - - BUSINESS - Ehda M. Da­gooc

The Bank of the Philip­pine Is­lands (BPI) will open three more branches in Cebu be­fore the end of this year, clos­ing 2017 with 39 out­lets in the prov­ince.

BPI pres­i­dent and chief ex­ec­u­tive of­fi­cer Cezar P. Con­s­ing said that BPI will make pres­ence in Bogo, Car­car and Toledo next month.

Bogo and Toledo branches will be BPI Com­mer­cial banks, while the Car­car branch will be op­er­ated as BPI Fam­ily Sav­ings Bank.

Con­s­ing said Cebu's over­whelm­ing eco­nomic growth, which is faster than the national pace, opens pos­i­tive prospects for the bank­ing in­dus­try, par­tic­u­larly on de­posits and loans.

"There is so much business con­fi­dence for Cebu. We are rid­ing on that," said Con­s­ing in an in­ter­view.

In the last five years, the Ayalaled bank­ing in­sti­tu­tion has been post­ing high dou­ble-digit growth in its Cebu op­er­a­tion, boosted not only by in­creased de­posits and loan busi­nesses, but also in other ser­vices such as as­set man­age­ment, cap­i­tal mar­ket, among oth­ers.

He said the Cebu mar­ket is ma­tur­ing in terms of tak­ing ad­van­tage of the fi­nan­cial mar­ket, like banks.

Mean­while, BPI promised to care­fully and metic­u­lously mon­i­tor its back-of­fice op­er­a­tional sys­tem, in or­der not to ex­pe­ri­ence an­other "tech­nol­ogy glitch," which re­cently hap­pened in the BPI sys­tem.

The bank's pres­i­dent vowed that the man­age­ment is tak­ing the re­cent in­ci­dent very se­ri­ously, and that what hap­pened was largely hu­man er­ror, and has been ad­dressed ac­cord­ingly.

But, if a sim­i­lar in­ci­dent may hap­pen again, con­sid­er­ing that tech­nol­ogy is not also per­fect, BPI is al­ready pre­pared to deal with such cri­sis.

In tech­nol­ogy re­lated is­sues, like a sys­tem glitch for in­stance, Con­s­ing said no one can say "never" if it will hap­pen again. "We can­not say never."

He as­sured that BPI has a sta­ble set up tech­nol­ogy pro­to­col, "so we can re­cover quickly." —

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