MICROCAPITAL BRIEF: Philippine BPI Globe BanKo Issues $45m in Wholesale Loans to Microfinance Institutions, Expands Agent Network to Boost Retail Business

BPI Globe BanKo, a mobile-based savings bank affiliated with the Bank of the Philippine Islands (BPI), reportedly has extended PHP 2 billion (USD 45.3 million) in loans to unspecified Philippine microfinance institutions.

BanKo also recently teamed up with two retail chains in the Philippines, Tambunting pawnshops and Generika drug stores, which will perform cash transactions and fulfil customer identification requirements for savings and loan applications for BanKo. BanKo’s website lists 139 partner outlets as of January 2012. Tambunting has approximately 1,000 outlets and Generika has about 250. It is unclear whether all or just some of the retail branches will offer BanKo services.

BPI Globe BanKO is a joint venture between Ayala Corporation, a Philippine conglomerate; Bank of the Philippine Islands (BPI), a commercial bank; and Globe Telecom Incorporated, a telecommunications provider. As of March 2010, BPI Globe BanKO had authorized capital of PHP 500 million (USD 10.7 million) of which PHP 350 million (USD 7.4 million) was paid up. BPI Globe BanKO does not report to the US-based nonprofit Microfinance Information Exchange (MIX), and more recent data on the company is unavailable elsewhere.

By Kristha Abores, Research Associate

About BPI Globe BanKO: BPI Globe BanKO is a joint venture between Ayala Corporation, a Philippine conglomerate; Bank of the Philippine Islands (BPI), a commercial bank; and Globe Telecom Incorporated, a telecommunications provider. BPI Globe BanKO is based in San Juan, Philippines, and offers loans and savings services to individual clients and microfinance institutions (MFIs). As of March 2010, BPI Globe BanKO had authorized capital of PHP 500 million (USD 10.7 million) of which PHP 350 million (USD 7.4 million) was paid up. BPI Globe BanKO does not report to the US-based nonprofit Microfinance Information Exchange (MIX).

Sources and Additional Resources:

[1] “BanKO extends P2-billion loans, loads to partners,” http://www.philstar.com/Article.aspx?articleId=764936&publicationSubCate

MicroCapital.org article, October 25, 2011, “MICROCAPITAL BRIEF: Mobile Microfinance Bank BPI Globe BanKO to Launch Microinsurance in the Philippines in Partnership with BPI-Philam Life Assurance Corporation, BPI/Mitsui Sumimoto Insurance Corporation ,” https://www.microcapital.org/microcapital-brief-mobile-microfinance-bank-bpi-globe-banko-to-launch-microinsurance-in-the-philippines-in-partnership-with-bpi-philam-life-assurance-corporation-bpimitsui-sumimoto-insurance-corpor/

MicroCapital Universe Profile: BPI Globe BanKO, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=BPI

Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/

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