BPI Family to double assets in five years

BPI Family Savings Bank, the savings unit of Bank of the Philippine Islands, plans to double its assets to P540 billion over the next five years from P270 billion in 2016, a top executive said Wednesday.

BPI Family president Maria Cristina Go said in a news briefing in Makati City this could be done through higher loans and deposits over the next five years.

“We hope to replicate our growth performance the past five years. We are doubling again in the next five years,” Go said.

Go said loans were expected to increase to more than P400 billion from P207 billion, and deposits to P480 billion from the current P240 billion.

The bank, however, expects to post a slower growth in loans to P210 billion this year from P207 billion last year.

“We expect modest growth for this year simply because we are streamlining processes and making sure that our credit parameters will allow us to grow more aggressively into the future,” Go said.

Go said profit growth might slow down to 10 percent this year after expanding 20 percent to P4.4 billion last year.

Go said six more branches would be opened this year in the provinces and another six outlets next year to augment its current 156 branches nationwide.

Topics: BPI Family Savings Bank , Bank of the Philippine Islands , assets in five years
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