BANK of Makati (BMI) is bullish that small and medium Filipino enterprises will account for half of its loan portfolio by 2022 given the strong performance of its motorcycle lending business.
BMI President Luis Chua said the bank would continue to focus on and tap the micro, small, and medium enterprises (MSMEs) in the country to realize operational growth.
Currently, this sector contributes about 30 percent to the thrift bank’s loan portfolio.
“Our plans right now are [to tap]those individuals, small and medium business owners. It is just [a matter of]tapping those people, it’s a matter of reaching out [and offering]these products to them,” he told reporters on the sidelines of an event on Friday.
Chua said BMI is the leading player in the motorcycle lending segment in the Philippines as it has already expanded in this business nationwide through the 703 outlets of Motortrade, which serves as its sales network.
“We have clients all over the country. Our motorcycle loans right now are not just the riders you see on the road. These include motorcycles availed of by enterprises–food and service business, laundry shops, among others,” he said.
BMI accounted for 96 percent or P14.77 billion of the banking industry’s motorcycle loans as of end-September last year, based on data from the Bangko Sentral ng Pilipinas.
For full-year 2017, BMI’s motorcyle loans surged 20 percent to P15.67 billion versus the recorded P12.98 billion in 2016.
This year the bank is preparing to launch 40 branch ‘lite’ offices to further boost its brand presence in the country. These ‘lite’ offices give flexibility to a banking institution, allowing it to offer products and services suited to the needs of their market.