BPI Direct BanKO Opens its 200th Branch in Los Banos, Laguna

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BPI Direct BanKo continues to reach out to SEMEs nationwide, reaches 45,240 clients with Php 3.3-3n microenterprise loans 

BPI Direct BanKo, Inc., the microfinance subsidiary of Bank of the Philippine Islands (BPI), has helped 45,240 micro entrepreneurs with Php 3.3 billion worth of microenterprise loans in just two years. In line with this, BPI Direct BanKo’s 200th branch was open at Los Banos, Laguna last March 12,2019. BPI Direct BanKo is committed in continuously providing financial inclusion for Filipino microentrepreneurs by expanding their reach in provincial area.

Jerome Minglana, BanKo President, said BanKo, has expanded aggressively since 2017, growing its network of branches to 200 as of end-2018 to help small entrepreneurs, particularly seIf-employed microentrepreneurs (SEMEs).  

”After two years, we witnessed how our loans have been very meaningful for these small businesses and grassroots communities. We continue to strengthen our commitment to the SEME market by providing them with better financial options that best fit their needs,” said Minglana during the celebration of BanKo’s 200th branch in Los Banos, Laguna.  

Today, BanKo covers key provincial areas such as Tuguegarao, Masbate, San Carlos City and Koronadal where unbanked SEMEs could benefit from BanKo’s loans.  

BanKo promotes financial inclusion by granting access to easy, convenient and affordable loan products to fund the operations and grow the businesses of SEMEs. This helps create a positive impact on the quality of lives of these small entrepreneurs.  

Minglana said Los Banos is a good example of a place where BanKo can make a positive impact on the community.

 

”Known to be a top tourist destination and home to an array of springs and resorts, Los Banos, Laguna, is considered to be a key zone as it captures a large number of SEMEs,” he said.

 

For his part, Mayor Caesar Perez of Los Banos, Laguna, is glad to have found a partner in BPI to help these SEMEs.

 

“We are very proud to have BanKo in the municipality of Los Banos, Laguna as we also aim to push for microfinance, help SEMEs and their businesses grow and reach their full potential,” said Mayor Perez.

 

Driven to fulfill its mission to provide proper financial service to small business owners, such as bakeries, palengke stalls, carinderias and sari-sari store owners, BanKo continues to address the huge gap in financial solutions by providing a more formal lending platform to the SEME market.

 

In the 2017 BSP Financial inclusion Survey, 52.8 million adults (15 years old and above) out of 68.6 million adults are unbanked, or don’t have deposit accounts.

 

“We hope to build a better country for every Filipino. Our end goal is to be able to support and capitalize SEMEs financially and help them contribute to the economic growth of the country,” said Simon Paterno, BanKo Chairman and Segment Head of BPI Financial Products and Services.

 

With the help of BanKo’s financial advisers, also known as BanKoMare and BanKoPare, SEMEs receive proper financial management coaching and are offered additional resources for the expansion of their businesses.

 

BanKo offers the NegosyoKo |loan ranging from Php 25,000 to Php 300,000, with 2% to 2.3% interest rate per month. Customers can have their loans released within seven banking days upon submission of complete requirements.

 

In its digital transformation journey, BanKo is actively creating an innovative solutions to cater to the needs of its clients through mobile. BanKo is set to launch its Alternative Deposit and Payment System, with zero maintaining balance which is targeted to be launched by third quarter of the year.

 

For 2019, BPl Direct BanKo plans to open an additional 100 branches and branch lite units. It aims to empower 83,000 more SEMEs and reach a |loan portfolio of P7 billion.

For more details and other inquiries, check out ww.banko.com.ph

 

 

 

 

 

 

 

 

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