Bank of the Philippine Islands (BPI) Globe BanKO recently announced plans to expand its operations to include providing client microfinance institutions (MFIs) with liquidity management services and helping MFIs improve their operations [1]. BPI Globe BanKO currently provides clients with wholesale funds and technology and has recently started a microfinance pilot program to introduce deposit-taking, microloan and microinsurance services to retail customers [2].

In order to improve the operations of MFIs, BPI Globe BanKO President Teresita B. Tan announced that BPI Globe BanKO plans to give clients access to BPI’s risk management team and will provide them with training and assistance in an attempt to improve their operational efficiency [1]. This year, the bank plans to lend PHP 1 billion (the equivalent of USD 21.7 million) and open five branches in the southern Philippines [2].

About Bank of the Philippine Islands (BPI) Globe BanKO

BPI Globe BanKO is a shared venture between the Bank of the Philippine Islands, Ayala Corp. and Globe Telecom, Inc. with an office in Greenhills, San Juan district of Manila, Philippines. BPI Globe BankO has authorized capital of PHP 500 million (the equivalent of USD 10.7 million) of which PHP 350 million (the equivalent of USD 7.4 million) is paid up. BPI Globe BanKO does not have a publicly accessible website nor does it report to the Microfinance Information Exchange (MIX).

By Eric McKay, Research Assistant

Bibliography

[1] BusinessWorld Online, “Microfinance bank offers liquidity services, eyes expansion”, February 23, 2010, http://www.bworldonline.com/main/content.php?id=6766

[2] Hio Kyeng Lee, “BPI Globe BanKO, Mobile Microfinance Bank, Plans Regional Offices in Philippines”, MicroCapital, February 1, 2010, http://www.microcapital.org/microcapital-brief-bpi-globe-banko-mobile-microfinance-bank-plans-regional-offices-in-philippines/

Additional Links

MicroCaptial Universe: BPI Globe BanKO: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=BPI+Globe+BanKO