The Market Monitor Minding the Nation's Business
The Philippine economy slowed in the third quarter of 2025, with GDP growth easing to 4 percent from 5.2 percent a year ago and 5.49 percent in the previous quarter, data from the Philippine Statistics Authority (PSA) showed.
The slowdown reflects the impact of recent weather disturbances and ongoing concerns over governance issues.
BPI President Jose Teodoro Limcaoco described the Q3 performance as “a little bit disappointing but not quite unexpected” and expressed optimism for a recovery in the coming quarters.
“I think the Q3 number might be a one-off. It might spill a little bit to Q4 as the government tries to understand its spending. But as we roll into next year, we should hopefully get back to the 5 percent handle,” he said.
Asked about the impact on BPI’s business, Limcaoco said the bank remains focused on expanding its consumer base. “So, as long as the consumer remains resilient and confident, that’s good for us. The economy is what it is and you just have to roll with the punches. If it’s strong, it’s good for us. If the economy is weak, we try to be resilient,” he added.
He noted that the BSP’s series of rate cuts, totaling 100 basis points so far this year, continue to stimulate the economy. “It encourages borrowers to borrow rather than us to lend. So our loan growth in the third quarter was close to 14 percent. This continues to demonstrate that consumers remain relatively confident,” Limcaoco said.
Expanding offerings, BPI launched a partnership with Robinsons Retail Holdings, Inc. (RRHI), allowing account holders to withdraw cash from 300 RRHI stores without using an ATM card.
Customers can generate barcodes through the BPI app to present to cashiers at participating stores, which include Robinsons Easymart, Robinsons Supermarket, No Brand, The Marketplace, Shopwise, Robinsons Department Store, and Toys’R’Us.
Transactions are capped at a minimum of PHP100, a maximum of PHP10,000, and up to five barcode generations daily. About one-third of BPI’s 18 million app users, or roughly 6 million, are active and will initially benefit from the service.