BPI savings bank unit named best for SMEs

BPI Family Savings Bank, BPI’s retail lending arm, was named the Best Small and Medium Enterprises (SME) Bank at the 10th Annual Best Financial Institution Awards organized by Alpha Southeast Asia Publishing in ceremonies held at the Conrad Centennial Singapore.

BPI’s Retail Lending Head Ginbee Go, in receiving the award, emphasized the bank’s commitment to provide expert financial advice to the SME segment, a major driver of development in the country.

“Our commitment to small- and medium-sized enterprises is hinged on a belief that this sector fuels economic growth.

Ninety-nine percent of businesses in the Philippines are SMEs, yet access to capital remains to be one of the biggest challenges SMEs face.

This is what compels us—the opportunities that this sector represents,” said Go.

Siddiq Bazarwala, Alpha Southeast Asia Publishing CEO, pointed out the impact that BPI Family Savings Bank has made on a wide swath of homegrown businesses. “What makes BPI Family Savings Bank unique is the fact that its branches across the country are equipped with the knowledge and expertise in serving the needs of SMEs,” he said. “In addition, as a result of its aggressive enhancement of processes, structural changes, product innovation and, communication strategy, the bank’s market penetration of micro-, small- and medium-sized enterprises has continued to rise year after year,” he said.

Alpha Southeast Asia also named BPI as Best Asset and Fund Manager and Best Trade Finance Bank. Aside from the Philippines, the five other countries covered by the Alpha SouthEast Asia awards were Indonesia, Malaysia, Singapore, Vietnam and Thailand.

Over 200 credentials from local and foreign financial institutions, comprising commercial and investment banks and brokers, were evaluated, making this the most conclusive award in banking and finance in Southeast Asia.