BPI vows to beef up SMEs credit facility

Emphasizing its commitment to help bolster the economic landscape in the Philippines, Bank of the Philippine Islands (BPIs) vows to beef up its credit facility to the huge Small and Medium Enterprise (SME) market and may consider easing some of its documentary requirements.

BPI, one the of country’s top three universal banking institutions, is going to reviewits current metric or business model for credit standards for SMEs, and make this particular product attractive to the SMEs, to encourage active lending activities to the corporate market.

In a press conference, BPI senior vice president and head for consumer banking group, Natividad Alejo said that the bank is going to review its present standard for lending facilities and re-package it to lure more SMEs to avail of financing products.

Some of the requirements that are considered for review include; credit rate, price of the product (interest rate), and packaging.

According to Alejo, although BPI’s long time position as the number two biggest bank in terms of assets was snatched by the recent merger of Henry Sy-led BDO, and Equitable PCI Bank, BPI will make it a point that it is on top or number one in other ranking measures.

In terms of deposits, BPI still ranked number two (next to Metrobank). The bank has also sustained its leadership in banking profitability, and market capitalization, she said.

With the very tough competition in the banking business, Alejo said BPI is focusing its strength as a “consumer centric” organization, wherein its over12,000 employees nationwide are well-trained on putting customer’s needs in the highest priority level.

This Ayala-led bank has also improved the number of touch points for its local customers. In addition to the 827 branches of BPI and its thrift bank arm BPI Family bank, the company also has various self-serve channels including 1,457 owned ATMs, 26 Cash Acceptance Machines, 14,000 Point-of-Sale Terminals, call center and Internet access through BPI Express Online.

She said Cebu is one of the bank’s priority areas for expansion because of its robust economic growth and development “Cebu is very important to us. We intend to be present during the development of Cebu, and play our active role,” she added.

To further beef up its relationship with the SME market, she said the bank has created a stronger group of on-ground team, to focus on the needs of SMEs.

Recently, BPI Family Bank launched a print campaign series under the “Grow your SME Business Loan” program, honoring men and women with SME businesses who got started on their tomorrows through home grown values like perseverance, hard work and honesty.

Businesses varied from the food sector, to manufacturing, to hotels, printing press, schools and even the medical field.

BPI Family Savings Bank holds market share of 22 percent in total loans boosted by its aggressive programs in auto and housing loans. – Ehda M. Dagooc