Ayala Plans hikes trust fund to P1-B

Ayala Plans Inc., a wholly-owned subsidiary of the Bank of the Philippine Islands (BPI), has topped P1 billion in trust funds as of end-July 2002. For a company that is less than eight years in operation, Ayala Plans’ trust fund is considered to be among the fastest growing with an annual average of 101 percent.

BPI Insurance group president Alfonso Salcedo Jr. Said Ayala Plans achieved this milestone through conservative fund management policies, coupled with aggressive sales, marketing and collection operations.

For 2001, Ayala Plans registered a total gross revenue growth of 25 percent, from P476 million in 2000 to P596 million in 2001.

Organizational and process streamlining resulted in a 75-percent reduction in general and administrative costs, making the company’s operations more efficient and viable.

Salcedo said Ayala Plans is going ahead in its marketing efforts to create added opportunities and accelerate sales growth. In 2001, initial cash brought-in (ICBI) or new business production of Ayala Plans rose by 19 percent, with a total of P230 million, compared to the previous year’s actual sales record of P192 million.

The geographic sales regions of the company performed creditably, with Visayas sales topping the sales division rankings by posting the highest ICBI at P51.5 million. Mindanao sales followed with P51 million. In terms of Total Collections (TC), Ayala Plans registered a total of P591 million, bringing sales growth up by three percent compared to the year 2000.