BPI Direct BanKo aims to hit goal of opening 200 branches this year

BPI Direct BanKo Inc., the microfinance unit of Bank of the Philippine Islands (BPI), is set to hit its target of having 200 branches by year-end, leveraging on the branch-lite initiative of the local central bank.
In a press briefing, BPI Direct BanKo President Jerome B. Minglana said the lender plans to open 65 more branches by end-2018.
“Wer’re planning to open 65 more branches [to complete our target of] 200 branches,” Mr. Minglana told reporters Monday, Aug. 13, adding that the bank is focusing its expansion in the provinces.
“[It will be] across the country. For this year, we’ll stop at three branches in Metro manila, but the remaining 197 branches will be in the provinces.” — Karl Angelo N. Vidal