BMI to open 40 branch-lite units

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.