BPI Direct BanKo Inc. (BanKo) the microfinance arm of the Bank of the Philippine Islands, has announced plans to open more branches and introduce new products this year, aiming to promote economic growth and digitalization, particularly in rural areas.
BanKo, currently operating over 300 branches across 75 provinces, has been actively disbursing loans to more than 270,000 microbusiness owners since 2017.
Its NegosyoKo Loan portfolio experienced a 24 percent year-on-year growth, reaching a milestone of P3 billion in loans extended to over 40,000 clients as of March this year.
Bankero Rod Mabiasen, the head of financial inclusion and microfinance solutions at BanKo, expressed the company’s mission to provide better lives and future opportunities for individuals through affordable financial solutions.
In pursuit of this, BanKo plans to open more branches, expand its rural footprint, and launch digital tools and products to reach a wider customer base, supporting the growth of self-employed micro-entrepreneurs (SEMEs) and their businesses.
One of the key products tailored for SEMEs is the NegosyoKo Loan, offering affordable rates, flexible terms, and straightforward requirements.
In addition, BanKo has recently partnered with Innovative Research and Intelligent Solutions Corp. to introduce the e’Nay app, empowering retail store owners.
Established in 2009, BanKo’s core mission is to promote financial inclusion by providing SEMEs with accessible and cost-effective loan options, aiding their business operations and expansion efforts.