Bank of the Philippine Islands, the third-largest lender in terms of assets, said it expects to sustain the growth momentum this year on the back of strong core businesses.
BPI president and chief executive Cezar Consing said in a news briefing after the annual stockholders’ meeting in Makati City that higher interest rates as well as the infrastructure projects under the ambitious ‘Build, Build, Build’ program of the Duterte administration would augur well for the bank, and the industry in general.
Consing said he was expecting strong gains in BPI’s SME, retail, credit, auto and housing loan segments in 2018.
“I am excited about the Train [Tax Reform for Acceleration and Inclusion], higher interest rates and ‘Build, Build, Build’ program of the government,” Consing said.
He said the bank’s goal of strengthening its SME, retail and micro-lending would benefit the bank in the long term.
“If we do that, it will make us more inclusive… We really want to be a technologically strong and inclusive bank,” Consing said.
Consing also said BPI would strengthen its online banking business with the introduction of new products to attract more clients to the platform.