SPEAKING OUT
On the occasion of the 173rd founding anniversary of Bank of the Philippine Islands (BPI), it is fitting to reflect on BPI’s remarkable journey—a legacy of stability, progress, and pioneering spirit. BPI has stood as a pillar of economic leadership, shaping the financial landscape and driving growth in our country.
BPI celebrated the anniversary last Aug. 1 with a thanksgiving mass officiated by His Eminence, Jose Cardinal Advincula.
In his message, BSP Governor Eli Remolona said that this milestone underscores BPI’s resilience and adaptability in an ever-changing world. Through growth and crises alike, BPI has consistently supported the evolving needs of the Filipino people. The BSP Governor commended BPI’s commitment to digital transformation, customer experience enhancement and financial inclusion. As a partner of BSP, the Governor stressed that BPI contributes to creating a sustainable and climate-resilient economy.
With justifiable pride, BPI Chair Jaime Augusto Zobel de Ayala, remarked: “For 173 years, BPI has stood as a pillar of stability and progress in our country, shaping the financial landscape, driving growth. We have many milestones to celebrate. But just to mention a few. I firmly believe that BPI’s current focus on financial inclusion, digitalization, and sustainability are absolutely crucial for our continuous relevance and success.”
Few financial institutions worldwide can boast a history spanning 173 years. BPI was established on Aug. 1, 1851, as the El Banco Español Filipino de Isabel II. BPI was the first government bank in the Philippines. The royal decree establishing the Banco Español-Filipino granted it the power to print Philippine currency. BPI was responsible for issuing the Philippine peso fuerte, which served as a precursor to today’s Philippine peso. Before 1851, various currencies were in use, including the Mexican peso. BPI emerged from historical challenges, including the Spanish-American War and the Japanese invasion. It weathered the tumultuous period of martial law and coups d’état in the '80s and early '90s.
BPI’s enduring presence and continuous growth are extraordinary. From its inception, BPI has been committed to adding value to the communities it serves. Today, with over 12 million customers and 22,000 employees, it remains a vital force in our nation’s progress.
BPI’s unwavering commitment to financial inclusion is commendable. Initiatives like BanKo, the microfinance arm, and Legaspi Savings Bank, dedicated to teacher loans, ensure that more Filipinos have access to essential banking services. By empowering individuals at the grassroots level, BPI contributes to a more inclusive economy.
In an era of rapid technological advancement, BPI’s digital platforms are transforming customer interactions. Banking has become more convenient and accessible, thanks to innovative solutions. By embracing digitalization, BPI stays relevant and responsive to evolving customer needs.
BPI’s sustainability initiatives are a testament to responsible banking. Its ongoing ₱5 billion denominated ASEAN Sustainability Bond demonstrates the bank’s commitment to benefitting both people and the planet. These bonds finance eligible green and social projects, reinforcing BPI’s dedication to a sustainable future.
As part of the Ayala group, BPI plays a significant role in touching lives. Its collaboration with the Ayala Foundation promotes financial knowledge and fosters social enterprises. Together, they create a positive impact on society, reflecting sustainable practices through their operations.
BPI places clients at the heart of everything it does. Projects like Project Heart, Agency Banking, and VYBE enhance clients’ quality of life and help them achieve their financial goals. By offering innovative products and exceptional service, BPI empowers clients to build a brighter future.
BPI’s commitment extends beyond banking. Through acts of volunteerism and support for sustainable advocacies and charities, it aims to make a lasting difference. By uniting efforts, it can build a better BPI and, in turn, a better Philippines.
BPI President TG Limcaoco credits the 22,000 unibankers’ unwavering dedication as the driving force behind BPI’s success.
The numbers for the first half of 2024 speak for themselves: net income surged to an impressive ₱30.6 billion, marking a remarkable 21.5 percent year-on-year increase. Equally noteworthy, total revenue soared by 23.8 percent to reach ₱81.2 billion.
But beyond the figures lies a deeper truth. The unibankers’ collective hard work, commitment to BPI’s N-I-C-E values, and unwavering belief in the bank’s vision have propelled BPI forward. BPI not only achieved financial milestones but also secured market share gains across its various business endeavors.
Extolling BPI Unibankers, Limcaoco said: You are the heart of our success story. Your resilience, passion, and shared purpose have shaped our journey toward building a better Philippines. Let’s continue to innovate, collaborate, and drive positive change together.
Indeed, BPI’s legacy is not just about numbers; it’s about transforming lives and contributing to our nation’s progress. ([email protected])