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Manila Bulletin devider Business devider The Stock Market devider BPI unfazed by slowdown, bets on BSP rate cuts for loan growth

BPI unfazed by slowdown, bets on BSP rate cuts for loan growth

Published Nov 11, 2025 04:15 pm
[L-R seated] Robinsons Retail Holdings, Inc.’s Tin Tueres, Food Segment Managing Director, and Robina Gokongwei-Pe, Director and Chairman, with BPI’s TG Limcaoco, President and CEO, and Rally Jereza, Head of Agency Banking. [L-R standing] Robinsons Retail Holdings, Inc.’s Rosalyn Lualhati, Front End Systems Head, Food Segment, Jom Catanghal, Chief Information Officer, and Gina Salgado, Adviser, with BPI Agency Banking’s Vicvic Montenegro, Platforms Business and Shared Services Head, and Bong Lualhati, Product Management Head.
[L-R seated] Robinsons Retail Holdings, Inc.’s Tin Tueres, Food Segment Managing Director, and Robina Gokongwei-Pe, Director and Chairman, with BPI’s TG Limcaoco, President and CEO, and Rally Jereza, Head of Agency Banking. [L-R standing] Robinsons Retail Holdings, Inc.’s Rosalyn Lualhati, Front End Systems Head, Food Segment, Jom Catanghal, Chief Information Officer, and Gina Salgado, Adviser, with BPI Agency Banking’s Vicvic Montenegro, Platforms Business and Shared Services Head, and Bong Lualhati, Product Management Head.
Ayala-led Bank of the Philippine Islands (BPI) remains optimistic about its prospects despite the country's slower-than-expected economic growth in the third quarter, betting on easing interest rates to boost loan growth.
BPI President and Chief Executive Officer Jose Teodoro K. Limcaoco said in an interview on Tuesday, Nov. 11, that the weaker growth gives the Bangko Sentral ng Pilipinas (BSP) room for further rate cuts.
“Given the controlled inflation and the relatively weak economic growth, it all points to the BSP cutting,” Limcaoco said on the sidelines of the launch of BPI’s partnership with Robinsons Retail Holdings Inc. (RRHI). “They just have to take a look at what the Fed does.”
Limcaoco expects the economy to still grow by about five percent next year, shrugging off the third-quarter gross domestic product (GDP) slowdown as a potential “one-off” event, despite the impact of typhoons and the absence of election-related spending.
“It might spill a little to the fourth quarter... as the government tries to understand its spending,” he explained. “But, I think, as we roll into next year, we should hopefully get back to a five percent handle.”
The BPI chief added that this trajectory “should bode well for us. Our big thrust really is about expanding into the consumer base. So, as long as that consumer remains resilient and confident, that's good for us.”
BPI posted a 5.2 percent increase in net income to ₱50.5 billion in the first nine months of 2025. Total revenues grew 13.2 percent to ₱142.3 billion, driven by a 16.2 percent increase in net interest income to ₱109.1 billion.
Meanwhile, BPI has expanded its Partner Store Services across RRHI, a move that allows customers to withdraw cash for free using the BPI app in RRHI stores nationwide. The expansion is one of the largest off-branch banking rollouts in the Philippines, integrating financial services into high-traffic retail environments.
The collaboration significantly widens access points for BPI’s more than six million app users, eliminating the need for a separate trip to a bank or ATM.
“That is what true convenience means—thinking about what our customers need,” Limcaoco said. “They can do it while doing their groceries, or while shopping at the department store. That’s the kind of seamless experience we aim for.”
BPI clients can now withdraw cash securely without an ATM card by generating a barcode through the BPI app. The service is initially available in over 300 RRHI food category stores, including Robinsons Easymart, Robinsons Supermarket, No Brand, The Marketplace, and Shopwise, as well as Robinsons Department Store and Toys’R’Us.
Clients may withdraw up to ₱10,000 per transaction, with a limit of five times per day (limits vary by brand). All partner-store transactions are free of charge. RRHI stores also support BPI savings account opening and product applications, with deposit acceptance slated for phased implementation.
Christine O. Tueres, RRHI Food Segment Managing Director, emphasized the partnership's goal: “This partnership is all about making banking possible and accessible and part of everyday life... Together with BPI we’re not just grocery shopping easier—we’re changing how Filipinos bank.”

Related Tags

Bank of the Philippine Islands Jose Teodoro K. Limcaoco Robinsons Retail Holdings Inc. Christine O. Tueres
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