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

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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