BanKO gets additional capital
AYALA-controlled mobile-based BPI Globe BanKO, Inc. received a
P52-million fresh capital infusion in December last year as it targeted
to grow its microfinance lending business by more than a fifth this year.
"We received a capital infusion of P52 million in December last year
from our stakeholders, bringing our paid-up capital to P552 million,"
BPI Globe BanKO President Teresita B. Tan said in an interview last Tuesday.
The Bank of the Philippine Islands (BPI), the country's third largest in
asset terms, and Globe Telecom, Inc. (Globe) each poured in P20 million
while Ayala Corp. contributed P12 million.
The thrift bank had a paid-up capital of P350 million when it launched
operations in late 2009.Its three shareholders infused an additional
P150 million in March last year.
BanKO is the country's first mobile-based microfinance-focused thrift
bank. It makes use of Globe's GCASH e-money to extend microfinance loans
to wholesale clients, composed of rural banks, nongovernment
organizations and cooperatives, as well as to retail clients.
Ms. Tan said BanKO targets to grow its loan portfolio to P2.5 billion by
the end of the year, up 23.15% from P2.03 billion last year.
The bank has extended P2.1 billion in loans so far.
Next year, Ms. Tan said, "we want to grow our loans to P3.5 billion...
and we expect more capital infusion from our shareholders."
"Bulk of these loans are retail loans and we expect our retail lending
business to drive the growth of our portfolio this year and next year,"
she said.
"The increasing number of our partner outlets is also expected to boost
the bank's lending business," she said.
The bank's partner outlets, composed of small variety stores and
pawnshops, perform cash-in/cash-out transactions and conduct customer
identification for savings and loan applications.
BPI Globe BanKO currently has 2,000 partner outlets. "We hope to end the
year with 3,000 partner outlets," Ms. Tan said.
She also said the bank does not plan to add more branches to its six
regional branches -- two each in Luzon, Visayas and Mindanao.
"We already have two branches each in the major islands, we can manage
our partner outlets from there and since we have mobile-based
transactions we don't need to put up additional branches," she said. --
ARRG
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CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
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