BMI to open 40 branch-lite units

Business World - - Banking&finance - K.A.N. Vi­dal

BANK OF MAKATI (A Sav­ings Bank), Inc. (BMI) is look­ing at open­ing 40 branch-lite units across the coun­try next year to bol­ster its lend­ing catered to small busi­nesses.

In a state­ment on Thurs­day, the sav­ings bank said it wants to open 40 branch-lite units start­ing next year, sub­ject to cen­tral bank ap­proval.

Bro­ken down, the lender is eye­ing to open 26 of­fices in Lu­zon in­clud­ing lo­ca­tions in Metro Manila, Ca­gayan Val­ley, Cal­abar­zon, Mimaropa and Bi­col Re­gion.

BMI is also set to open an­other 14 branches in Visayas and Min­danao, par­tic­u­larly in Ak­lan, Ne­gros, Cebu, Bo­hol, Sa­mar, as well as in Zam­boanga, Davao del Sur, Davao del Norte and Agu­san del Sur.

“Ex­pand­ing our branch net­work is in­te­gral to our goal of en­abling Filipino savers and sup­port­ing their en­tre­pre­neur­ial en­deav­ors,” BMI Pres­i­dent Luis M. Chua was quoted as say­ing in the state­ment. “With our planned branch-lite units, we look to pro­vide the un­banked and the un­der­served ac­cess to bank­ing ser­vices tai­lored to their needs.”

BMI is po­si­tion­ing it­self to be­come the pre­ferred bank of mi­cro-, small and medium en­ter­prises.

BMI, the eighth-largest sav­ings bank in as­set terms as of end-June, cur­rently has 62 branches as well as 703 Mo­tor­trade out­lets which serve as col­lec­tion agents.

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