AYALA-LED Bank of the Philippine Islands (BPI) will be spending up to P2 billion to open more branches and modernize its existing ones.
“We’re looking at refurbishing a lot more branches in 2018. Our branches will reach 840 by the end of the year. If you look at what happens next year, we could see us adding another 20 to 30 branches,” Joseph Gotuaco,
BPI executive vice president, told reporters on Tuesday night following the launch of its new branch in Makati.
“We will be spending P1.5 to P2 billion…,” he said.
Gotuaco said the Bangko Sentral ng Pilipinas had approved BPI’s plan to establish dozens of new branches in the country. “[S]o we’ll use those licenses between this year and next year,” he added.
The newly opened flagship branch at the Insular Life Building in Makati City sports a minimalist and modernized design. The 680-square-meter branch is much bigger compared to the usual branches of the bank, Gotuaco noted.
“Basically, when you think of how we do banking in major city centers, you’re going to see branches like this that are larger than normal and can accommodate a much broader range of clients. When this branch was designed, we thought it would not just be for our retail customers but also for our corporate customers,” he said.
Gotuaco said there are also plans to establish similar designs in other areas but did not disclose the specific locations.
“Three to four in Makati and in other metro cities, we’re looking at those sites right now,” he said.