Bank of the Philippine Islands, the third-largest lender in terms of assets, teamed up with the Department of Trade and Industry to support small and medium-sized enterprises as they recover from the effects of the COVID-19 pandemic.
Under the memorandum of understanding, BPI Business Banking will support DTI programs such as SME Roving Academy, Kapatid Mentor Me, Youth Entrepreneurship Program, and regional trade fairs.
The bank said it would also provide free training to SMEs on ways to secure a business, manage and leverage on loans, and bank in the new normal.
Eric Luchangco, BPI business banking head, said the bank recognizes its role in supporting companies and helping the economy grow as it aims to build a more financially inclusive Philippines.
“We hope that through this partnership with DTI, we will be able to make it clear to our SME customers that they are not too small to be served by a large bank. We believe they deserve to have access to the same kind of financial products and services that larger companies already have access to,” said Luchangco.