BPI President and CEO Jose Teodoro “TG” Ok. Limcaoco instructed BPI stockholders that the financial institution “will proceed to reinvent banking in order that we will higher serve the evolving wants of our purchasers” and that “digitalization, buyer obsession and sustainability stay to be our focus as we transfer ahead to a post-pandemic surroundings.”
Limcaoco reported that whereas many firms purposely lowered bills in the course of the pandemic, BPI spent practically P9 billion or about 9 p.c of whole income in 2021 on know-how, together with new digital initiatives reminiscent of constructing and enhancing buyer engagement platforms and onboarding new companions in its open banking enterprise.
In October 2021, BPI introduced plans to accumulate and have interaction purchasers by way of seven buyer engagement platforms, every particularly designed to satisfy the banking wants of a specific phase. 5 platforms — BPI On-line, BPI Cell, BPI Commerce, BizLink, and BanKo app — are already accessible in the present day, with two extra slated for launch this yr.
BPI’s ongoing digitalization journey continues to reinvent the shopper interplay and expertise. As of 2021, 4.9 million of its 8.46 million consumer base was enrolled in digital channels. Of the quantity, 3.24 million have been lively, up 20 p.c from the earlier yr. BPI additionally has a rising record of over 80 API companions masking practically 800 services, with over 100 million transactions in 2021, a 75 p.c progress from the earlier yr.
Limcaoco reported that the BPI workforce additionally seeks to be “heroes for its prospects” with a shift in mindset. In 2021, BPI created a brand new place for a Chief Buyer and Advertising and marketing Officer, whose job is to place buyer wants first. The financial institution additionally launched a concise model of its Core Values whereby everybody within the financial institution should be N.I.C.E, which touches on the have to be Nurturing, appearing with Integrity, being Buyer obsessed, and appearing with Excellence.
BPI likewise strengthened its protection of assorted consumer segments, by forming a consolidated shopper banking unit that focuses on offering related monetary options to the retail market. Company Banking continues to cater to massive companies, Enterprise Banking covers the small, and medium enterprises (SMEs), whereas Banko, it is microfinance unit, takes care of the self-employed micro entrepreneurs (SEMEs).
Limcaoco acknowledged the position of BPI’s 19,000-strong workforce in delivering wonderful monetary options and repair to purchasers. “They’ve stood by our prospects all through these difficult occasions, and they’re very a lot the driving pressure behind the Financial institution we’ve turn into,” he mentioned.
Limcaoco additionally gave due credit score to his fast predecessor, Cezar “Bong” P. Consing, who led BPI from 2013 to 2021. “Below him we made nice leaps in our digital journey with out compromising the enterprise values that outline BPI. BPI is in a terrific place in the present day due to the forward-looking choices he made.”
BPI additionally affirmed its longstanding dedication to sustainability. Final yr, it formally rolled out its Sustainability Agenda. As of end-2021, about 48 p.c of the financial institution’s portfolio was tied to initiatives that contribute to the United Nations Sustainable Improvement Objectives.
BPI can be the primary and solely Philippine financial institution to provide a time-bound dedication to halve coal era financing in its portfolio by 2026 and produce it right down to zero by 2032. It additionally helps the Activity Drive on Local weather-related Monetary Disclosures (TCFD). BPI had additionally introduced that it could not finance green-field coal energy initiatives going ahead. As well as, BPI pioneered the primary vitality transition financing (ETF) mortgage that may allow an present coal plant to shut 15 years forward of its financial life.
These initiatives have drawn recognition for BPI when it comes to financial, social, and governance (ESG) requirements. MSCI, S&P World, and Sustainalytics gave BPI the very best marks amongst Philippine banks in ESG scores in 2021.
In the identical annual stockholders assembly, BPI Chair Jaime Augusto Zobel de Ayala (JAZA) famous the sturdy efficiency of the financial institution in 2021, when it delivered a internet revenue of P23.88 billion, up 11.5 p.c in comparison with 2020. The financial institution’s return on fairness additionally improved to eight.40 p.c from 7.70 p.c the yr earlier than.
“Total, whereas the pandemic introduced unprecedented challenges, we consider that BPI has responded exceptionally properly and has turn into a a lot stronger establishment,” JAZA mentioned in his message to shareholders.
He cited how, regardless of the hardships it created, the pandemic has led to a number of significant developments. “For instance, digitalization has unlocked new methods to work together and entry services, whereas larger sensitivity and empathy in the direction of problems with sustainability and equity have been developed.”
He additionally noticed optimistic indicators of restoration going down within the banking trade. After a 2.8 p.c contraction in 2020, mortgage demand rebounded final yr, posting a 4.1 p.c progress.
“BPI goals to be a significant associate as we begin our restoration from the Covid-19 pandemic and re-establish and reinforce the pillars that may as soon as once more put the nation on the trail to equitable progress,” JAZA mentioned.
The 170-year-old Financial institution of the Philippine Islands is the primary financial institution within the Philippines and Southeast Asia. We’re licensed as a common financial institution by the Bangko Sentral ng Pilipinas to supply a various vary of monetary companies: deposit taking and money administration, funds, lending and leasing, asset administration, bancassurance, funding banking, securities brokerage, and international change and capital markets. BPI has important monetary power, with sturdy Tier 1 capital adequacy ratios and profitability, underpinned by a stringent compliance and threat administration regimes.
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