BPI’s Direct BanKo, Inc., A Savings Bank (BanKo), the microfinance arm of the Bank of the Philippine Islands (BPI), yesterday said its loan portfolio in 2024 hit P21 billion, making it one of the country’s largest microfinance banks.
The amount was disbursed to 200,000 self-employed micro-entrepreneurs (SEMEs) all over the country
“BanKo’s journey exemplifies the transformative power of digital solutions in driving financial inclusion, helping Filipinos thrive in the digital age,” Rod Mabiasen Jr., BanKo president, said in a report on Tuesday.
“Now with 369 branches and branch-lite units, situated in 77 out of 82 provinces nationwide, BanKoleads in digital financial inclusion, driving economic empowerment and sustainable growth across the Philippines,” he added.
Through its flagship NegosyoKo Loan, BanKo has transformed lending for SEMEs, offering convenient and affordable access to vital capital ranging from P15,000 to P500,000, with flexible tenors spanning six to 60 months.
Mabiasen said a borrower can initiate loan application and loan re-availment at the comfort of her store via BanKo Mobile App and the BanKo Loan Application Portal.
With the straight through onboarding facility of the app, more Filipinos can openPondoKo or TODO savings account within a few minutes. PondoKo provides an interest-bearing basic deposit account with no maintaining balance, while TODO offers 5 percert annual interest rate.
“BanKo continues to redefine banking by enhancing and expanding its digital touchpoints. With the BanKo Mobile App, customers gain access to a variety of services, including interbank money transfers, bill payments, and loan management,” Mabiasen said.
BanKo recently received a special citation for its pioneering digitalization efforts at the 3rd Digital Financial Inclusion Awards (DFIA).
Supported by the Bangko Sentral ng Pilipinas (BSP) and organized by the Microfinance Council of the Philippines, Inc. (MCPI) in partnership with Citi Foundation, DFIA honors microfinance institutions and micro- entrepreneurs who have transformed businesses and communities through remarkable digitalization. BanKo was one of the four microfinance institutions (MFIs) recognized in the awarding ceremony.
“By providing accessible and innovative products, we will continue tohelp our clients, especially the SEMEs, take control of their financial well-being and build a better future,” Mabiasen added.
