The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms & Conditions.

All material subject to strictly enforced copyright laws. © 2020 Euromoney is part of the Euromoney Institutional Investor PLC
Best Bank Awards

Philippines' best bank for microfinance 2019: BPI

Bank of the Philippine Islands

Cezar P Consing, President and CEO, BPI.jpg
Cezar Consing, BPI

When it comes to financial inclusion and, in particular, the Philippines’ young microfinance sector, two local commercial banks stand out from the crowd. BDO Unibank and Bank of the Philippine Islands (BPI) have both expanded aggressively into this previously overlooked market segment. Better still, both have ambitious plans to up their game.

But while BDO Unibank’s rural banking arm (called One Network Bank) continues to impress with its coverage of the micro, small and medium-sized enterprises, it is BPI’s BanKo, the product of a merger between two specialized thrift bank units, that is setting the pace.

BanKo’s network almost doubled from 103 to 200 branches last year. It plans to open an additional 100 branches this year to cope with increasing demand from a new generation of bright young entrepreneurs.

“Microfinance is the smallest business unit at the bank, but it is where we see the biggest growth potential,” says Cezar Consing, chief executive and president of BPI.

That’s good news for small businesses, which all too often have been forced to borrow at exorbitant rates from money lenders. It’s also good news for the long-term growth of the bank’s bottom line, since this business segment should be one of the most promising sectors of the economy.

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree