BPI BanKo now serving Self-Employed Micro Entrepreneurs (SEMEs)

BPI Direct BanKo which is a combination of BPI Direct Savings Bank Inc. and BPI Globe BanKo. BPI Direct Savings Bank was formerly BPI Agricultural bank way back in the 70's and BPI Globe BanKo is an innovative micro-financing with mobile abilities which was just launched in 2009 in partnership with Globe.

Two separate thrift banks merged into one is now the powerful BPI Direct BanKo BPI Direct is now extending its reach by opening to Self-Employed Micro Entrepreneurs (SEMEs) by introducing its primary loan product "NegosyoKo loan" ranging from 25,000 to 300,000 php (depending on the collateral).

Loan is approved and released as short as 4-5 days to a maximum of 3 weeks for bigger loans.  Loan payments can be scheduled over a long term period. 

BPI aims to improve the quality of SEMEs as well as contribute to the country's economic growth by offering a legal and formal lending platform and spare them from being forced to go through informal channels. 

In line with this new venture, BPI has launched a new batch of financial advisors called BanKoPares and BanKoMares as loan officers who will guide and directly engage with BanKo clients.  Those interested in BanKo services only need to call and the BanKoPares and BanKoMares will go to them so they don't even need to leave their business.

According to BPI President and CEO Cezar P. Consing, this is the fastest business in BPI history.

BanKo now has a total of 24 branches, 15 of which are newly established branches in key areas around the country. 

BPI intends to reach 90 branches by October 2017.  The BanKo Direct BanKo launch was graced by Bangko Sentral ng Pilipinas (BSP) Incoming Deputy Governor Chuchi G. Fonacier and other BSP officers.  Incoming Deputy Governor Chuchi Fonacier has been with BSP since 1984 as Bank Examiner and has progressively worked her way to become Assistant Governor in 2017.  Ms. Fonacier shares that BSP has always strongly dedicated in financial inclusion - bringing banking services to more people as financial consumers where no one is left behind.  She believes that BanKo with the guidelines and regulations of the BSP that will improve BPI BanKo operations will lead to an effective and sustainable results. BSP guidelines and regulations are formulated to be enabling and not to be restrictive but as an active partner of financial institution. BSP is open to digital solutions as long as security is protected.  With only 30% of Filipinos with formal financial accounts, she recognizes that financial inclusion still has a long way to go.

During the launch BPI shares success stories of its BanKo clients who benefited greatly through micro-financing.  Among their clients are eateries, small farm owners, cellphone repair store, burger joint, food stall franchisee, sculptor, guitar maker and fruit vendor.