THE Bank of the Philippine Islands (BPI) is set to establish two more branches in Davao City this year in their bid to cater to more Dabawenyos.
Joseph Albert Gotuaco, BPI executive vice president and head of the Retail Client Segment Group, told reporters during a round table discussion at the BPI Corporate Office in Davao City on Tuesday, October 24, that they will be putting up new branches in the Buhangin and Mintal area.
He said they will be establishing branches in these areas as they are becoming one of the booming growth centers of Davao City.
Art Gerald Perez, BPI vice president and area business director for the Davao South Mindanao Area, said the branches in these areas will also allow them to cater to the growng demand for banking services.
Aside from the two branches, they are also set to establish branches in Agadao in Davao City, Panabo City in Davao del Norte, and Mati City in Davao Oriental next year.
Gotuaco said in establishing branches, they follow where their customers are.
"If you are in retail it is very easy to see trends where it is growing. Where you see population is migrating, you get ahead of that. When companies open, that is a big opportunity for banks because you are not just after the corporate business but also the payroll," he said.
For a 200 square meter branch, BPI usually spends around P12 million to P13 million for its establishment. Gotuaco added that they usually spend around half of the budget for the information technology and security components of the bank.
For Davao Region, BPI currently has 24 branches, which also includes the BPI Family Savings Bank.