Bank of Makati’s new HQ

Bank of Makati Inc. has inaugurated 12-story mixeduse building that now hosts its main branch.

Bank of Makati president Luis Chua said the building represents a significant milestone in the bank’s existence over the past six decades.

“Micro, small and medium enterprises play a critical role in our economy and are the primary engine for job generation in this country. This is the segment we wish to serve well through our diverse savings and loan products,” he said.

While MSMEs account for 99.57 percent of business establishments in the country, only a small number have access to bank services. MSMEs account for about 30 percent of the bank’s total loan portfolio.

By 2022, the bank expects MSME and commercial loans to account for half of its loan portfolio.

“Our vision is to become the bank of choice of MSMEs. It is the focus of our business strategies and our main priority,” Bank of Makati managing director Ramon Manzana.

Bank of Makati also benefits from a working arrangement with 703 affiliate outlets of Motortrade, which act as its sales network. The motorcycle dealership and Bank of Makati are both owned by the Ongtenco family.

Bank of Makati accounted for 96 percent of the banking industry’s motorcycle loans as of end-September.

BSP assistant governor Restituto Cruz (middle) graced the inauguration of the new headquarters of Bank of Makati. He is joined by Bank of Makati president Luis Chua, chairman Thomas Ongtenco, chairman emeritus Vicente Ongtenco and managing director...