BPI expands depositor base through alternative channels

CEBU, Philippines - Instead of pouring investments on physical infrastructure to sustain its leadership in the banking sector, Bank of the Philippines Islands (BPI) is now more focused on expanding its depositor base through alternative channels.

BPI president Aurelio Luis R. Montinola III made this announcement during his recent visit to Cebu, to formally open the bank’s first museum in the Philippines, located at BPI main building along Magallanes street, this city.

Montinola said the bank had been doing very well in increasing its client-base through alternative channels, both in mobile and web-based or online banking services.

Although the bank is continually investing in renovating its branches around the country, as well as increasing online kiosks facilities, strengthening its online services is one of the growth drivers of BPI in the next few years.

Of its total capital expenditure (capex) this year, Montinola said a significant share is spent on strengthening its online banking capabilities, and efficiencies.

He said because of its active move especially in attracting the young generation segment, the bank is confident to achieve a good growth figure this year, and sustain its leadership in the banking sector.

The bank’s direction is hitting the 5 million depositors’ mark in the next few months.

“We want to grow organically. What is important is to acquire more customers,” he said.

However, he said that bank is on its constant look-out for bank-acquisition opportunities, but its focus in more on acquiring more customers at this time.

Now, on its 160 years, BPI is considered as one of the oldest banking institutions in Southeast Asia, with close to a thousand branches nationwide, excluding its affiliates abroad.

Montinola joined the top-notch executives of BPI led by its chairman Jaime Augusto Zobel de Ayala to officially open the BPI Museum Cebu.

The museum has been declared a National Historic Landmark by the National Historical Commission. —Ehda M. Dagooc

Among the items featured in the bank include an Original Bank Journal from 1855, the Acquisition document of the BPI Cebu Branch Property at the corner of Magallanes and P. Burgos streets signed over by the Augustinian Friars in 1931, Building Plans made by Juan Marcos Arellano from 1940, banknotes and coins collections from the Spanish era, and an original Automated Teller Machine (ATM) from 1981—testament to BPI’s pioneering spirit in banking and technology. —(FREEMAN)