Philippines' best bank for CSR 2021: BPI
Bank of the Philippine Islands/BPI Foundation
Asiamoney’s choice for the best bank for CSR in the Philippines this year is Bank of the Philippine Islands, whose work through its social development arm, BPI Foundation, is turning heads in the country.
In its 43rd year, BPI Foundation had quite a moment in 2020. Under the leadership of executive director Owen Cammayo, BPI Foundation reached more than 7.3 million communities around the nation of 108 million. It did so with the efforts of 8,275 BPI employee volunteers.
Long before Covid-19 hit, BPI Foundation played a part in trying to increase financial inclusiveness. For 20 years now, so have a succession of Philippine governments. But political gridlock has left efforts to increase financial literacy to non-government organizations and the private sector.
All along, BPI Foundation had been there to fill a number of voids, not just with direct handouts that have little long-term impact but also through training programmes that form a kind of intellectual safety net. For example, it has long worked with the Philippine department of education to improve the nation’s collective financial soft power.