BPI Direct BanKo Inc., the micro finance arm of Bank of the Philippine Islands, expects to have 100 branches by yearend to further widen its coverage to unbanked and underserved individuals.
BPI president and chief executive Cezar Consing said during BanKo’s launch in Makati City on Tuesday that the initiative showed the bank’s commitment and contribution to the financial inclusion of the government.
“This is all about financial inclusion... We give importance to small businesses,” Consing said.
BanKo recently opened 15 branches in key areas around the country, including Bicol, Negros Oriental, Davao, and Central Luzon, bringing total branches to 24.
BanKo is the result of the merger of two specialized thrift bank units of BPI―BPI Direct Savings Bank Inc. and BPI Globe BanKo.
“The country’s prosperity will only be meaningful of a wider swath of the population is touched by development and progress. BanKo is precisely positioned to do that,” Consing said, adding BanKo was a major effort in reaching out to the unbanked.