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April 12, 2024

BPI launches green solutions for housing and auto loans

Bank of the Philippine Islands (BPI) launched Green Solutions to become the first bank in the country to offer financing options for eco-friendly housing and auto choices and strengthens its commitment to sustainable finance.

“BPI Green Solutions represents a pioneering step in sustainable financing, providing customized solutions for housing and auto loans to make sustainable homes and e-vehicles more accessible and affordable to the market,” said Dexter Lloyd Cuajotor, head of BPI retail lending and bancassurance.

The bank’s Green Solutions offers sustainable financing options for Auto and Housing, including Solar Mortgage for those aspiring to power their homes with solar energy, Eco-Build Financing for those looking to build sustainable spaces, and EV Financing, making electric vehicles a more viable choice.

Cuajotor said that while the initial costs of acquiring solar panels and the higher unit prices of electric vehicles pose challenges, BPI is helping Filipinos gain better access to such sustainable products and services through flexible payment options and discounts under BPI’s All Out Promo, which is available until March 31, 2024.

BPI said it commitment to sustainability extends beyond its Green Solutions initiative. BPI’s bank-wide sustainability mandate, a first-of-its-kind program in the Philippine banking industry, underscores its unwavering dedication to deliver responsible banking to stakeholders, from clients to investors and local communities.

BPI expanded in 2019 its green financing program to include sustainable agriculture alongside renewable energy, energy efficiency, and climate resilience, under a rebranded Sustainable Development Finance (SDF) Program.

Reflecting the growing diversity of services furthering sustainable development provided by the bank, the SDF Program is proof of BPI’s stronger commitment to the United Nations Sustainable Development Goals (UN SDGs).