Philippine's best bank for CSR 2018: Bank of the Philippine Islands
Bank of the Philippine Islands
Bank of the Philippine Islands has been a corporate social responsibility leader for decades. Its BPI Foundation, which celebrated its 40th birthday in May this year, continues to channel capital to a huge number of worthy causes. But it is over the last three years that the lender has really taken its CSR profile to the next level, helping to improve social cohesion and environmental protection, aligning itself with the UN’s Sustainable Development Goals and the national development agenda, and driving domestic innovation and financial inclusion.
BPI Foundation programmes reached nearly 190,000 people in 2017, up substantially from the previous year, when the reach was fewer than 50,000. To date, the bank says the foundation has directly helped 300,000 people. In future, it aims to continue supporting the country’s army of micro, small and medium-sized enterprises (MSMEs), helping small farmers to build scale and invest in new technology, while also bringing more people and corporates into the formal banking system.
Its entrepreneurship development programmes, which reach out to social entrepreneurs, university students and MSMEs, are driven by a genuine desire to instil greater creativity, drive and financial inclusivity in one of the emerging world’s fastest-growing economies, and stand as clear proof of why BPI deserves this award.