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April 21, 2024

BPI expands footprint of microfinance arm

Bank of the Philippine Islands (BPI) led by bankero TG Limcaoco is further expanding the footprint of its microfinance arm nationwide to reach out to more unserved and underserved communities nationwide, particularly self-employed microentrepreneurs (SEMEs).

BPI Direct BanKo is now ready to serve communities within the area and nearby municipalities are in Coron, Palawan; Bocaue, Bulacan; Zaraga, Iloilo; Banate, Iloilo; Dagupan, Pangasinan; Mangatarem, Pangasinan; Manaog, Pangasinan; Isulan, Sultan Kudarat; and Malungon, Sarangani.

BanKo financial inclusion and microfinance solutions head Rodolfo Mabiasen Jr. said that the opening of branches in different municipalities nationwide forms part of the bank’s plans to establish presence in more areas as the country rises above the challenges brought by the COVID-19 pandemic.

Now that we are again gaining momentum, we are aggressively opening more branches to fulfill our mission to provide financial services to more individuals and to help more SEMEs advance their businesses,” the bankero said.

Now with 309 branches nationwide, the thrift-banking arm of BPI offers more SEMEs an easy and affordable business cash loan that helps SEMEs grow and expand their businesses.

In its new locations, BanKo will also be able to offer its clients easy and affordable loan products, such as its BanKo NegosyoKo Loan, a cash loan product that gives SEMEs additional capital to help expand their businesses.

BanKo’s street-smart financial advisers, called BanKoPares and BanKoMares, will provide guidance on how SEMEs can manage their finances and will help them process the requirements for their loans.

Borrowers could apply for loans from as low as P25,000, for working capital and minor business expansion to P300,000 for major business expansion.

Since its launch in 2016, BanKo is now present in 74 provinces with a total of 309 branches across the country.