Ayala-led Bank of the Philippine Islands is considering more frequent bond issuances following strong demand for its recent P50 billion fundraising.
BPI executive vice president and treasurer Dino Gasmen said the bank is looking toward opportunistic offerings while developing a more regular issuance program.
“We might want to issue more of them. So we’re exploring. But it may be smaller sizes,” Gasmen said.
The bank raised P50 billion last week through the issuance of sustainability-linked bonds. While BPI initially planned to raise P5 billion, it attracted 10 times that amount from investors.
BPI president and chief executive Jose Teodoro Limcaoco said the goal is to issue bonds more regularly. He noted that environmental, social, and governance (ESG) bonds remain a priority, driven in part by regulatory incentives.
Limcaoco also suggested the economy could be recovering after a weak fourth-quarter performance, noting that the bank’s core businesses remain resilient.
“Our billings and our cards remain strong. To me, that’s my closest evidence to how the economy is doing,” Limcaoco said. “So billings are strong. Loan releases are not as strong. They’re just like the fourth quarter.”
Regarding monetary policy, Limcaoco said that while the bank previously projected two rate cuts from the Bangko Sentral ng Pilipinas, that outlook is now less certain.
“We penciled in a cut. But we’re not as confident as we were, let’s say, a week ago. Because the governor has said he’s worried about inflation exceeding 3 percent,” he said.
Meanwhile, BPI’s newly opened Singapore wealth office is gaining traction. Limcaoco confirmed the bank has already onboarded clients, offering a specialized suite of products and a dedicated team.
The Singapore office is part of a broader strategy to provide integrated wealth services as BPI aims to build the largest wealth business in the country.
