Growing with Boracay: BPI reaffirms support for locals, SMEs, and tourists
Following the successful reopening of Boracay island, Bank of the Philippine Islands (BPI) has reaffirmed its commitment to improve the lives of all Boracay residents and businesses through its financial solutions and services.
To support the booming tourism in the island, BPI has strengthened further its foreign exchange services, including foreign exchange (FX) buying and selling in various currencies — Australian dollar (AUD), British pound (GBP), Canadian dollar (CAD), Chinese yuan (CNY), Euro (EUR), Hong Kong dollar (HKD), Japanese yen (JPY), Singapore dollar (SGD), Swiss franc (CHF), US dollar (USD).
BPI also offers US dollar and other foreign currency-denominated savings accounts, USD time deposits, and dollar-denominated unit investment trust funds (UITFs) for the foreign residents and for the locals who wish to save and invest in foreign currency.
For 11 years, the BPI Boracay branch has supported numerous enterprises on the island, helping them become successful businesses.
“Years ago, we saw the potential of Boracay as a tourist destination. Thus, we made sure that our presence enabled the growth of the community, at the same time providing an easy and convenient banking experience for the island’s many visitors,” said Angelie King, BPI’s Head of Branch Channels and Sales.
BPI’s Boracay branch, which started as a kiosk with three ATMs, moved to its current location in a two-story building at D’Mall on the Main Road, Station 2, in 2007. With the move, BPI improved the branch facilities and increased the number of staff. The branch has also since been renovated to accommodate its growing number of clients. The first floor of the branch is dedicated to over-the-counter transactions, while the second floor is for customer servicing and new accounts opening.
Empowering small businesses
The BPI Boracay Branch has worked to enable the island’s residents and businesses to reach their financial goals.
Aldrin Castano, owner of AV Seven Resort, credits BPI for helping his business flourish, facilitating transactions with suppliers from elsewhere in the Philippines and abroad. AV Seven is one of the select hotels on the island recently accredited by the Department of Tourism.
“For over a decade, BPI Boracay has helped me expand my business, not only by making my transactions easier but also by providing me valuable financial advice,” Castano said.
Other long-time Boracay clients have also reaped the benefits of having a BPI branch nearby, saying that their relationship with the bank has helped them build and achieve their aspirations.
Cecilia Ebreo, a BPI Boracay client since 2008, was able to acquire a new house through a housing loan with BPI. In addition, with a business loan from BPI, she’s been able to transform her business, the Cecile & Ciara Store, from a small sari-sari store to a full-blown commercial operation.
BPI continues to expand its reach across the country, striving to give more Filipinos easy and convenient access to financial solutions and services.
Banking at the beach. BPI Boracay Branch provides access to financial solutions and services for locals, tourists and foreign residents, reaffirming its commitment to financial inclusion.
ABOUT BANK OF THE PHILIPPINE ISLANDS
The 167-year-old Bank of the Philippine Islands is the first bank in the Philippines and Southeast Asia. We are licensed as a universal bank by the Bangko Sentral ng Pilipinas to provide a diverse range of financial services: deposit taking and cash management, payments, lending and leasing, asset management, bancassurance, investment banking, securities brokerage, and foreign exchange and capital markets. BPI has significant financial strength, with robust Tier 1 capital adequacy ratios and profitability, underpinned by a stringent compliance and risk management regimes. BPI has investment-grade ratings of BBB- (Fitch), Baa2 (Moodys), and BBB (Capital Intelligence).