Making the best out of banking
Here’s how you can move to a banking relationship that you can rely on for trusted advice.
(Published in Philippine Star, Business Section last October 9, 2017.)
According to the latest Consumer Finance Survey by the Bangko Sentral ng Pilipinas, “only 14% of Filipino households save their money in banks.” The survey said that the foremost reason cited by households for not having a deposit account was “not having enough money to keep an account.” Majority also said they “do not like to deal with or do not trust banks or institutions.”
This reveals that most Filipinos are not maximizing the potential of banking capabilities to help improve or manage their finances.
Bank of the Philippine Islands (BPI) gives practical tips on how to help anyone make the most in his or her financial journey with the bank.
Be comfortable with talking about money. Talking about money does not have to be worrisome. The journey to making your finances grow starts with acknowledging what you have and what you want to have.
“Reflect on your financial goals, and take time to identify what you really need to do to attain them,” shares Joseph Gotuaco, BPI Executive Vice President and Head of Retail Clients Segments. “Better yet, share your financial goals with your family or your trusted friends to educate yourself as you make financial decisions.”
Open up to your bank. Once you’ve overcome your anxieties to discuss money matters, it’s time to talk to the group most qualified to listen to your financial goals and have the expertise to help you do something about it: your bank.
“When you come to the bank, don’t be afraid to share specific goals that matter most to you,” shares Dennis Montecillo, BPI Executive Vice President and Head of Corporate Clients, “Don’t be afraid to share with us your ambitions, dreams, or even your fears, as this is the only way that we can provide you with solutions that you will truly benefit from.”
Bankers may be considered as partners when it comes to making big decisions. “BPI Unibankers are equipped with experience and knowledge on market and industries to give you advice on possible financial solutions. Find the time to collaborate with them in achieving your aspirations,” Montecillo adds.
Know your options. It is important to be aware of bank services available to you, but these services have to match your needs. These services come with the financial advice that is customized depending on your goals. For BPI, highly trained individuals bring to life the institution’s promise to make the best happen for all its clients.
“The bank’s relationship and branch managers personify BPI. Through them, we strive to identify our clients’ needs and aspirations to provide them with appropriate solutions and trusted advice. We aim to be the bank that clients will go to for their most important financial transactions, from deposits, to loans, to estate planning and capital markets transactions,” says BPI President and CEO Cezar P. Consing.
You can approach these BPI relationship managers and account officers for financial education and advice on how specific financial products can work together to maximize financial solutions. “Our product experts play a vital role in ensuring that our clients are informed and guided properly. BPI Unibankers collaborate with different groups in the bank to ensure that they give clients the solutions that are most suited to them,” shares Simon Paterno, BPI Executive Vice President and Head of Financial Products and Services Segment.
Invest in a relationship with your bank where you can get Trusted Advice. “A regular update on market developments and projections is always helpful. You should be aware of risks and opportunities that your companies and personal portfolios can guard against and--or take advantage of--using various investments and hedging products that the bank offers. By doing so, you have better chances of growing your business and portfolios to support retirement or even future generations,” says Antonio Paner, BPI Executive Vice President, Treasurer and Head of Global Markets Segment.
As with every relationship that is beneficial for you, make time for people whom you can trust to get you closer to your financial goals.
“The relationship manager and investment counselor are partners in helping you achieve your financial goals. Our systems in BPI are designed to ensure that we support this advisory relationship so we can deliver quality results at a very personalized level,” says Ramon Jocson, BPI Executive Vice President and Head of Enterprise Services.
“Some of our customers have actually grown their businesses from a single proprietorship to a large corporation with the help of their long-time relationship manager. The more the BPI Unibanker knows you, the more that he or she is better able to advice you and push you more towards your goals and potential opportunities,” Montecillo supports.
As the first bank in the country, BPI continues to carry its legacy and renewed commitment to enable Filipinos to lead their best lives through financial literacy and sound advice. At the same time, it emphasizes the importance of customers making a connection with their bank as the first step to making the best happen in every journey that they choose to embark on.
“For BPI, we do well when our clients do well. Getting to know you is only the beginning of the path to success, from understanding your real concerns, to providing you with financial advice you can rely on. Our bankers are key to ensuring our continued success as an institution, and we look to them to create a differentiated service that our clients can truly depend on,” concludes Consing.
ABOUT BANK OF THE PHILIPPINE ISLANDS
The 166-year-old Bank of the Philippine Islands is the first bank in the Philippines and Southeast Asia. We are a universal bank with an expanded banking license. We provide diverse financial services that include deposits, cash management, asset management, securities brokerage, foreign exchange and capital markets investments, bancassurance, corporate lending, leasing, and investment banking. BPI has significant financial strength, with strong Tier 1 capital adequacy ratios and profitability, underpinned by a strong risk management regime. BPI is rated investment-grade by international credit ratings agencies.