BPI Direct BanKo Inc., A Savings Bank (BanKo), the microfinance arm of the Bank of the Philippine Islands (BPI), celebrated its seventh merger anniversary with an elevated focus on its mission to become the most trusted microfinance partner of self-employed microentrepreneurs (SEMEs) and masang Pilipino.
“Our anniversary signifies BanKo’s enduring vision to help build a better Philippines — one family, one community at a time. This commitment resonates in every financial service we provide to the masang Pilipino, with the hope of contributing to making their lives better,” said BanKo Chairman Josephine “Jojo” Ocampo.
As part of the celebration, BanKo held a blessing ceremony in December for its newly-renovated headquarters at Greenhills, Ortigas Avenue.The4-storey building will be the permanent workplace of BanKo’s executive management and key managerial and support staff.
BanKo continues to show growth while it doubles down its effort to become bigger with wider reach.
In 2023, the bank fast-tracked its expansion and opened 26 new branch-lite units (BLU) in different locations across the country, bringing the total number of BanKo branches and BLUs to 346.
“We believe the opening of these new BLUs will usher in new and more opportunities to advance financial inclusion and deliver on our promise of better banking experience for the masang Pilipino,” said BanKo President Jerome Minglana.
Minglana said that, while BanKo continues to accelerate its digital transformation agenda to simplify banking experiences in branches, increasing its branch network is essential in ensuring and improving customer satisfaction.
“Although we have been working hard to integrate the human touch on the BanKo Mobile App to replicate the branch experience, there are clients who are still reliant on traditional channels. We aim to be more customer-centric, providingthem with a personalized experience they need,” he said.
Rod Mabiasen, Jr., Banko’s Head of Financial Inclusion and Microfinance, announced that, starting December, in time with BanKo’s anniversary month, SEMEs can now borrow up to P500,000 without collateral.
“We recognize the expanding requirements of the negosyanteng Pinoy in growing the business. With the higher loan amount, NegosyoKo loan gets better in matching the need for additional working capital, and stay true to our brand of service of maaasahan, malalapitan at mapagkakatiwalaan,“ he said.
The launch of the new and improved features of NegosyoKo Loan caps the year that also saw the introduction of InstaCashKo Line, a ready-credit line made available to existing and new SEME clients of BanKo which allows them access to cash anytime. Year-to-date, BanKo has released P14.2 billion worth of business loans in 2023.
BanKo also offers PondoKo Savings, which is an ideal starter for those who want to save. The deposit product can be opened via BanKo Mobile app with just P1.00, has no required maintaining balance, and offers 2 percent rebate for every purchase of prepaid load on the app. Depositors can send money to other banks and e-wallets via InstaPay for free.
“Through these easy, convenient, and affordable microfinance solutions, it becomes easier for Filipinos to achieve their aspiration as business owners and improve the quality of their lives,” Mabiasen added. “Sa BanKo, may ngiti ang bukas ng bawat masang Pilipino.”
