BPI anticipates that customer growth will be driven by the continued expansion of its agency banking program and the permanent removal of fees for InstaPay and PESONet transfers.
At a recent media roundtable, the bank’s president and chief executive highlighted that the May BPI Dito flagship agency banking initiative has broadened its reach through an increasing number of partnerships, strengthening its nationwide presence.
The program now collaborates with 34 partner businesses, encompassing more than 7,100 locations. These partners serve as mini‑branch hubs, offering account opening, cash deposits and withdrawals.
Currently, 1,369 partner stores provide cash deposit and withdrawal services. The bank aims to equip all partner outlets with these capabilities by mid‑next year.
A partnership with Robinsons Retail Holdings accounts for nearly 800 touchpoints, forming the core of the network’s physical locations.
Since its inception, the May BPI Dito program has onboarded over one million new depositors through its partner stores.
The agency banking model also eases congestion at traditional branches, allowing staff to concentrate on customer education and product promotion.
The chief financial officer noted that the model reduces operating expenses and enables the bank to extend services to areas lacking a physical branch, improving cost efficiency.
In line with the central bank’s directive on fair pricing for digital fund transfers, BPI will eliminate fees for InstaPay and PESONet, charging only the network switch fee of P1.50.
The executive team expects that the fee‑free transfers will attract additional customers and increase transaction activity, providing deeper insight into client needs.
In the first quarter, BPI reported a 1.7 percent year‑on‑year increase in net income, reaching P16.92 billion. The bank’s shares closed at P98.55, up 2.66 percent from the previous day.
