Bank of the Philippine Islands unveiled an aggressive expansion plan for its micro finance bank, which was launched yesterday.
The Ayala Corp.-controlled lender launched BPI Direct BanKo Inc. (BanKo), which already has 24 branches in key areas including Bicol, Negros Oriental, Davao, and Central Luzon.
By the end of 2017, the objective was to have 100 branches or offices around the country, BanKo chair Natividad Alejo said during the bank’s launching yesterday.
According to BPI, BanKo will serve self-employed micro entrepreneurs (SEMEs) running their small businesses.
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Its main loan product is the NegosyoKo Loan, which would range from P25,000 to P300,000.
BanKo’s services also include “expert financial advice and solutions that promote the growth and expansion of the SEMEs’ enterprises.”
