Sustainability Report

Transcription

Let’s
bank on
shared value
2014 Sustainability Report
Over the last 163 years, the Bank of the
Philippine Islands (BPI) has built stakeholder
trust on the foundation of expertise in
advisory and relevant products and services
that empower our clients financially. Moving
forward, we aim to keep every Filipino’s
trust by embedding economic, social, and
environmental value in everything we do.
G4-3
Through our commitment to shared value, we
aspire to contribute to Filipino society beyond
the scale of the financial services we provide.
We realize that our continuing success as a
financial institution significantly depends on
how well we work for every Filipino’s longterm financial welfare and how well we enable
sustainable development in the Philippines.
Leveraging on our shared value focus and our vital
assets—prudent capital management, engaged
workforce, efficient processes, and continued trust
by stakeholders—places us in a strong position to
become the Filipino banking champion.
To this end, we continually innovate to transform
the way Filipinos bank, enhance livelihood and
businesses, and encourage more sustainable
investments, while delivering value for our clients
and shareholders.
In this report, we share with you our success
stories thus far, our stories of “Banking on Shared
Value.”
2
BANK OF THE PHILIPPINE ISLANDS
2014 SUSTAINABILITY REPORT
3
The BPI Credo
We believe our first responsibility is to our Clients.
If we understand and address our clients’ financial
needs, we will be entrusted with their most
important financial transactions, and we will build
lasting relationships. We do well when our clients
do well.
We believe in our responsibility to our People.
We seek to hire the best people for each job,
provide them with the means to perform at a high
level and reward them fairly. We value integrity,
professionalism, and loyalty. We promote a culture
of mutual respect, meritocracy, performance, and
teamwork. We strive to be the employer of choice
among Philippine financial institutions.
We believe in our responsibility to our
Shareholders. We treat capital as a most
valuable asset and seek to generate superior
returns while being prudent in risk-taking,
spending, and investment.
04
BPI at a Glance
06
Joint Message from the Chairman
and the President and CEO
10
Our Report
14
xx
Our Business
23
Let’s Set Financial Wellness in Motion
37
Let’s Foster Financial Inclusion
49
Let’s Invest in Sustainable Development
71
Let’s Enhance Our CARE Systems
83
Let’s Empower Our People and Society
101
Let’s Use Resources Efficiently
109
Let’s Build Trust
129
Appendices
GRI Content Index
Independent Assurance Statement
Acknowledgment
We believe in our responsibility to our Country.
Our prosperity is greatly dependent on the
well-being of our nation. We aim to be inclusive
and responsible in nation building. Through
BPI Foundation, we are committed to the welfare
and sustainability of the communities we serve.
5
BPI at a Glance
Financial Wellness
67% increase in savings volume of
Save-Up accounts
40% growth in number of OFW
Regular Subscription Plan investors
12% growth in the number of investors Financial Inclusion
27
% increase in savings volume of Easy Saver accounts
26
Ka-Negosyo roadshow events
nationwide
Sustainable
Development
Investments
27.5B Pesos worth of
approved loans to fund renewable energy, energy efficiency, and climate resilience projects
814K tonnes CO e
2
avoided per year
from the Personal Banking segment
Operational Efficiency
234% increase in financial transactions
84% of transactions done through electronic channels contributing to reductions
People and Society
Resource Efficiency
84% Sustainable Engagement score
39% decrease in
done through mobile app
47% increase in
total number of promotions
11K volunteer hours rendered
4
in construction of physical branches and fuel consumption of armored vehicles
water consumption
16% decrease in
carbon emissions
Building Trust
+61.23
net promoter score – above
the average score of
international financial
institutions
House of the Year
Asia Risk Award
for local communities
5
Joint Message from the Chairman
and the President and CEO G4-1
CHANGES ARE HAPPENING
FOR YOU AT BPI
To all our stakeholders,
We have placed creating shared value as a cornerstone of our business. We continue to empower our
people to innovate systems, products, and services that address our biggest sustainable development
challenges – poverty, food security, climate change, ecosystems degradation, among others – while
generating significant value for our business and our shareholders.
This year, we report on the progress we are making on three focus areas where we can deliver most impact
– Financial Wellness, Financial Inclusion, and Sustainable Development Investments.
Financial Wellness
We aim to help every Filipino attain a strong financial foundation and build a healthy and productive
financial future. We assist our clients by providing financial advice and offering a wide array of financial
products and services suited for their needs. Our products are designed to foster a culture of saving,
responsible borrowing, informed investing, and protection of asset value. We offer investment products
with lower minimum amount requirement, as well as a regular subscription plan (RSP) that allows
monthly contribution for investments.
6
7
In 2014, we saw a 67% increase in Save-Up
accounts, a 40% growth in OFW investors’
investments through RSP, an 8% increase in the
number of mutual funds investors, and a 12%
increase in the number of investors from the
Personal Banking client segment.
Financial Inclusion
As a financial institution, we recognize our key
role in addressing poverty. We continue to put
special attention on the unbanked and low-income
segments. We develop products that allow them
entry into the formal banking sector.
Our Easy Saver product which does not require a
maintaining balance helps low-income individuals
start a relationship with the Bank. We help those
who wish to start a business but do not have ready
access to capital by offering affordable loans with
extended payment terms.
In 2014, our total savings volume of Easy Saver
accounts increased by 27% with a 14% increase
in the number of account holders. We have also
financed about 200 entrepreneurs who acquired
franchise outlets.
Sustainable Development Investments
We focus on enabling investments that foster
sustainable development, especially in the
countryside. Of the total loans we provided in
2014, P94 billion went to investments in the
countryside, boosting wholesale and retail trade,
agriculture, manufacturing, and real estate, among
others.
We are particularly proud to report that as of
end of 2014, we approved P27.5 billion worth of
loans to fund 174 projects in renewable energy,
energy efficiency, and climate resilience. These
investments generate over a thousand gigawatt
hour (GWh) of renewable power, save 234 GWh
of electricity from energy efficiency, and cut 814
thousand tonnes of greenhouse gas emissions.
Our Key Enablers
Our success thus far has been a product of efficient
systems and channels, robust risk management,
empowered employees, and customer trust.
Our electronic channels help reduce our
transaction costs, thus enabling us to serve
more low-income individuals. In 2014, 84% of
total transactions were done through electronic
channels, which reduced the need for many more
physical branches.
We measure our performance as an employer using
a sustainable engagement metric. In our latest
survey, 84% of our employees consider themselves
sustainably engaged, across various parameters
such as involvement and empowerment, strategy
and direction, as well as work tools and efficiency.
BPI’s proactive approach to enterprise and
financial risk management allows us to effectively
meet domestic and international market
challenges. We have a strong top-down risk
management culture, very experienced risk
management leaders, well-defined risk appetite
and metrics, and robust models and systems.
Our customers rated us 94.2% in overall
customer satisfaction and 61.23 in net promoter
score, which is well above the average score
of international financial institutions. This is
validated by the awards we received this year such
as Best Payment Product Award, Diamond Award
for Marketing and Best Retail Bank Award.
Jaime Augusto Zobel de Ayala
Chairman
8
Our Business Bottomline
By serving our clients well, we achieve strong
and sustainable financial performance. Our total
revenue increased from P52.5 billion in 2013
to 55.8 billion in 2014. BPI recorded both net
income and total comprehensive income of P18.0
billion, achieving a return on assets of 1.44 percent
and a return on equity of 13.75 percent. For 2014,
we received Bangko Sentral approval to pay P7.08
billion in total dividends, an annual payout ratio
of 39.2 percent.
Looking Forward
We realize the extent of change we seek to
create sustainable value for our clients, for the
environment, for society and for our stakeholders
via our various activities. What we achieved in
2014 inspires us to do more in the coming years.
So, to all our stakeholders, “Let’s Bank on Shared
Value.”
Cezar P. Consing
President & Chief Executive Officer
9
Our Report
Scope and Coverage
G4-28, G4-29, G4-30
Let’s bank on shared value is BPI’s seventh
annual Sustainability Report. It covers
our business operations, inclusive of our
subsidiaries and affiliates within the period
of January 1 to December 31, 2014.
Purpose
This report presents the analysis of the
economic, environmental and social
performance of our business. Through
this report, we update our stakeholders
on the progress of the Bank’s shared value
initiatives.
This report adheres to the Global Reporting
Initiative (GRI) G4 Sustainability Reporting
Guidelines and completed GRI’s Materiality
Disclosures Service Check.
Data Sources
Sector performance data are sourced from
the following documents or guidelines:
Economic Performance
• Audited financial statements
conforming with Philippine
Financial Reporting Standards
• Internally generated reports
consolidated from the management
information systems of the Bank’s
various units
10
Environmental Performance
• Consolidated data from our head
offices, Philippine branches, satellite
offices, and subsidiaries
• Energy and water consumption
from meter readings by utility
companies
• Records of diesel consumption of
vehicles and facilities
• Greenhouse gas (GHG) emissions
calculations using the GHG
Protocol Corporate Standards,
Intergovernmental Panel on
Climate Change (IPCC) emission
factors for direct energy and
National Grid Emission Factors of
the country’s Department of Energy
(DOE) for indirect energy
Reporting Standards G4-32
Additional Reference
This report is ‘In Accordance’ with the
GRI G4 Guidelines - Core option for the
non-financial performance. It is guided
by peer performance comparison and
benchmarking. The integrated macro and
micro viewpoints enabled alignment with
the 360° Sustainability Framework adopted
by Ayala Corporation since 2013.
The Bank’s operational and financial
performance is stated and filed at the
Philippine’s Securities and Exchange
Commission (SEC). It forms part of the
Information Statement sent to stockholders.
This is available for online access at
www.bpiexpressonline.com.
This report details 40 General Standard
Disclosures, 20 Material Aspects and 25
Specific Standard Disclosures. See page 130
for the complete list of Material Aspects
and its boundaries; pages 132 to 133 for the
GRI Content Index.
Social Performance
• Internally generated reports
on our employee engagement,
legal compliances and customer
satisfaction
Contact Information G4-31
For questions, comments, and suggestions,
contact us:
Fidelina A. Corcuera
Chief Sustainability Officer
Sustainability Office
16th Floor BPI Building
6768 Ayala Avenue
Makati City 1226, Philippines
Telephone: (632) 845-5202
Email: [email protected]
Assurance G4-33
The Bank enlisted TUV Rheinland, a global
expert in Testing, Inspection, Certification
& Training, for third-party verification.
TUV conducted an Environmental, Social
and Governance (ESG) on-site audit to
ensure balance, accuracy, completeness,
and comparability of the disclosures in
this report. See pages 134 to 135 for the
Independent Assurance Statement.
11
Sustainability Strategy Framework
G4-2, G4-18, G4-19, G4-20, G4-21
Our Sustainability Strategy Framework guides our thrust to become every Filipino’s Banking Champion – in
financial wellness, in financial inclusion and in sustainable development investments. To achieve this, we share
in this report how we innovate for operational efficiency, empower our people and society, use resources efficiently,
and continue to build stakeholder trust. This is aligned with our organizational philosophy as stated in
our Credo.
Our three main focus areas include:
• Financial wellness – We help individuals,
communities and businesses grow their funds
and build their wealth by facilitating financial
• Financial inclusion – We continually strive to
widen our reach by developing products and
services that address the needs and preferences
of clients coming from low-income and
underserved segments. We adhere to the ideals
that true prosperity can only be achieved when
everyone is involved.
• Sustainable development investments –
We promote investments in industries
that strengthen urban and countryside
development. Advocating and advancing
shared value financing, we also stimulate
business innovation through cleaner, lowcarbon, and resource efficient technologies.
wellness opportunities, a range of innovative
programs and more accessible investment options.
FOCUS AREAS
OUR SUSTAINABILITY STRATEGY FRAMEWORK
FOCUS AREAS
Setting
Financial Wellness
in Motion
Fostering
Financial
Inclusion
Investing in
Sustainable
Development
Culture of Saving
Responsible Borrowing
Investment Options
Financial Literacy
Wealth Creation
Asset Insurance
12
Balanced Development
Wider Accessibility
Sustainable Financing
Low-Carbon Economy
Agribusiness Assistance
Catalyzed Growth
FS7
FS6, FS8, G4-EN27
ENABLERS
ENABLERS
Using
Resources
Efficiently
Easy Saving Options
Payment Solutions
Affordable Loans
Enterprise Assistance
Employee Stock Options
Micro Insurance
Convenient Banking | Electronic Channels | Cash Management Solutions | Retail Services
Reliable Remittances | International Network
Enhancing Operational Efficiency
Empowering
Our People
and Society
G4-EC8
Building
Trust
Engaged Employees
Career Development
Employee Satisfaction
Environmental Sustainability
Enterprise Development
Nation Building
Reduced Carbon Footprint
Conserved Fuel and Energy
Saving on Electricity
Decreased Water Consumption
Supply Chain Management
100% Local Sourcing
Customer Satisfaction
High Quality Service
Marketing Brilliance
Sound Risk Management
Business Continuity
Management
Leadership Excellence
G4-LA1, LA9, SO1
G4-EN3, EN4, EN8, EN15, EN16,
EN17, EC9
G4-EC1, PR5, PR7, PR8, HR3,
HR4, HR5, HR6, SO5, SO8
13
Our Business
G4-4, G4-5, G4-6, G4-8, G4-9
A
s one of the leading banks in the
country for the last 163 years—our
business, products and services have
contributed significantly to the national
economic landscape and the day-to-day
lives of Filipinos. Being the first bank
established in the Philippines and in
the Southeast Asian region, our history
has been one of client trust, financial
strength and innovation.
Our portfolio is strategically geared
towards a sustainable and inclusive
society. In our book, everyone is
included. Individuals, enterprises and
institutions alike benefit either directly
or indirectly from the economic drivers
generated by the Bank’s business. We will
continue to deliver products and services
efficiently, mindful of our corporate
values of integrity, strength, innovation,
and productivity.
With headquarters in the Makati Central
Business District, BPI has ushered in
84%
of revenue distributed
to key stakeholders
many firsts in the country’s banking
and financial industry. This includes the
automated teller machine (ATM), cash
deposit machine (CDM), BPI Express
Assist (BEA) machine, point-of-sale
debit system, kiosk banking, phone
banking, internet banking, and mobile
banking. Our 825 branches and business
centers and 2,575 ATMs and CDMs
connect to form the largest combined
network servicing seven million clients.
Beyond nationwide coverage, our branch
presence includes one in Hong Kong and
four in Europe.
Acknowledged as a leading provider
of financial services in the Philippines,
together with our subsidiaries, we
offer clients a wide range of financial
products and services in corporate
banking, consumer banking and lending,
investment banking, asset management,
insurance, securities distribution, foreign
exchange, and leasing.
17%
increase in total
economic value distributed
(from 2013)
15
Economic Value Distribution
G4-EC1
e
a
Economic Value
Distributed in 2014
d
In million pesos
%
8,401
18%
b Payments to employees
11,653
25%
c Payments to providers of capital
15,817
34%
d Payments to governments
11,203
24%
e Payments to communities
51
0.1%
a Payments to suppliers
47,125M
b
Responsible contribution to nation building requires us to take on the challenge of fostering inclusive growth and
wealth creation for every Filipino. This process begins in our internal systems and processes. Honest, accurate,
and fair handling of information ensures that stakeholders who invest with the Bank are
rewarded commensurately.
Fidelity to Ethical Corporate Citizenship
Our Unibank Central Accounting Division
(UCAD) consolidates financial data, while
Strategic and Corporate Planning Division
(SCPD) assesses them for accuracy, in preparation
for presentations to the Board of Directors and
submission of reporting requirements to the SEC
and Philippine Stock Exchange (PSE).
UCAD controls the Bank’s books of accounts
to ensure accurate, fair and timely financial
statements and other management reports. It also
sees to it that all entities in the group compute and
pay required taxes. It ensures compliances defined
to UCAD with regulatory reporting to the Bangko
Sentral (BSP), SEC, PSE, and Philippine Deposit
Insurance Corporation (PDIC). This ensures that
all disbursements assigned to UCAD are processed
within the prescribed authority limits.
SCPD is responsible for providing sound budget
and variance analysis of the reports generated by
UCAD. It guarantees that reporting requirements
to the Bank’s Board of Directors and to
government regulators are met.
The Board conducts check-and-balance practices as
well as audits of the Bank’s financial performance
and targets on a monthly basis. We also undergo
quarterly and annual review checks by the SEC.
2012
2013
2014
Economic value generated: Revenue
47,385
52,498
55,787
Economic value distributed
48,041
40,120
47,125
Payments to suppliers
6,767
7,502
8,401
Payments to employees
10,401
10,481
11,653
Payments to providers of capital
22,811
12,204
15,817
Payments to governments
8,026
9,842
11,203
Payments to communities
38
90
51
(656)
12,378
8,662
Economic value retained
16
• Revenue / economic value generated: Our
total revenue increased from ₧52.5 billion in
2013 to ₧55.8 billion in 2014, largely driven
by the improvement in net interest income
by ₧4.5 billion. For the same period, our
₧30.3 billion net interest income increased by
14.8% to ₧34.8 billion. This upsurge is due
to expansion in our asset base of 24.6%, or
₧247.0-billion, tempered by a 28-basis point
drop in net interest margin.
revenue streams, i.e., interest income,
foreign exchange, security trading, fees,
commissions, and other income. These
also include income and fringe benefit
taxes for employees and taxes derived from
properties and operational transactions.
Taxes in 2014 amounted to ₧11.2 billion,
a 14% increase over 2013’s ₧9.8 billion.
Payments to suppliers: This covers
payments for trainings abroad and
all suppliers and service providers.
Procurement expenditures increased by
12% in 2014 reaching ₧8.4 billion, from
₧7.5 billion in 2013.
Payments to communities: This primarily
pertains to donations and contributions to
charities.
• Economic value distributed: Our total
economic value distributed increased by 17%,
from ₧40.1 billion in 2013 to ₧47.1 billion in
2014.
2014 Economic Figures
In million pesos
c
Payments to providers of capital: This
refers to dividends paid and interest payments
for deposits and borrowings. Amount totals
from 2013 to 2014 show a 30% increase, from
₧12.2 billion to ₧15.8 billion.
Payments to employees: Disbursements
due to salaries, wages and bonuses and
staff benefits rose by 11%, from ₧10.5
billion in 2013 going up to ₧11.7 billion
in 2014.
Payments to governments: These
are tax payments made for corporate
• Economic value retained: BPI posted a
lower economic value retained from the
previous year at ₧8.7 billion in 2014. This
means we have increased our disbursements to
key stakeholders. Our 2014 Annual Report,
available online at www.bpiexpressonline.com,
discusses our financial performance in detail.
Our indirect economic impact is discussed in
detail in pages 21 to 81 of this report.
17
Defining What’s Material to Us
G4-18
The Bank conducts periodic review of its materiality to identify key opportunities and risks relevant
to emerging economic, social and environmental issues. We refer to key local and global sustainable
development issues and define which issues we have the competencies to provide solutions to. We also
value the perspectives of our four major stakeholders—Clients, People, Shareholders, and Country—that
help us define our materiality, scope and boundaries.
Through this process, we are able to focus our efforts on areas where we are most competent on and where
we are able to create the most positive impact.
This report defines management approaches for issues considered as material. We present our performance
on these aspects using indicators that best capture our business context.
Guided by the GRI G4 Sustainability Reporting Guidelines, we conducted the materiality process, as
outlined below.
Identification: Sustainability Context and
Stakeholder Inclusiveness
We referred to the 10 global megaforces
identified by KPMG (Expect the Unexpected:
Building Business Value in a Changing World,
2012)–climate change, energy and fuel, water
scarcity, material resource scarcity, population
growth, wealth, urbanization, ecosystem
decline, food security, and deforestation–where
any changes to which are likely to have the
highest impacts to our business. We also looked
at national trends and statistics, company
reports, market and industry developments,
and regulatory updates for localized
sustainability context.
We collected information on stakeholder
expectations as inputs to our process.
18
Prioritization: Materiality and
We engaged key officers and staff to identify
which of the aspects are relevant to them
and which fall under their competencies.
Information were obtained through extensive
series of meetings with various business units
and through electronic communication
exchanges.
In these discussions, we defined focus areas
where the Bank can provide business solutions.
Stakeholder data including customer survey
results, investor briefing materials and other
information were used to validate identified
material aspects.
Validation: Completeness
and Stakeholder Inclusiveness
Our management reviewed the BPI
Sustainability Strategy Framework to ensure
completeness and alignment to business
strategy. Our various business units also
confirmed that all important aspects and
impacts of the business activities are considered.
Review: Sustainability Context and
We review our previous reports and
continually find better indicators that provide
a balanced picture of our impacts and
sustainability performance. Moving forward,
we will performs similar review process for the
next reporting cycle.
We have consolidated these material aspects
into our new BPI Sustainability Strategy
Framework (see pages 12 to 13).
19
Stakeholder Engagement
G4-25
Who are our stakeholders and
how do we engage with them?
G4-24, G4-26
What matters to them?
How do we address them?
G4-27
G4-27
CUSTOMERS
•Daily customer touch points – branches,
personnel, phone, email and social
media channels
•Annual and periodic satisfaction surveys
•Regular visits to existing clients
including area briefings
Who are our stakeholders and
how do we engage with them?
G4-24, G4-26
•Quality of service
•Accessible electronic services
•Convenient, affordable, reliable, and
efficient delivery of products and
services
•Product requirements and processes
•Sound or customized financial advice
•Proactive approach to customer concerns
(i.e. proper allocation of manpower
resources, review of outsourcing services
and setting up of more effective contact
centers)
•On-going personnel capacity building
through product briefings, seminars and
training
•Annual bank examination
•Regular audits
•Regular correspondence through letters
and e-mail
•Regular investor briefings
•Shareholder return
•Annual stockholders’ meeting
•Financial performance
•Transparent and timely disclosures/
reports
•Transparency and accountability
•Report on compliance to regulations
•Feedback on the Bank’s operations
•Conduct of internal and external audits
•Membership
•Continuing membership
•Periodic industry meetings and working
committee meetings
•Sharing of industry updates and
common concerns related to product
and service delivery
•Transparent and timely disclosures
•Career development programs
•Lobbying of significant business
concerns
•Attendance to meetings, exhibits,
conferences, seminars, symposia and
fellowship activities
•Participation in meetings with key policy
and decision makers
•Active membership
•Discussion of industry trends and
adoption of new rules and regulations
•Setting of industry standards and
market practice
EMPLOYEES
•Annual performance appraisals
•Clear understanding of
organizational goals
•Innovation in employee development
programs, systems, processes and
company practices
•Periodic engagement survey
•Effective leadership
•Employee volunteerism programs
•Provision of avenues for personnel
growth (for example, enhancement of
technical knowledge and participation in
socio-civic projects)
•Building of collaborative networks
NON-GOVERNMENT AND
CIVIL SOCIETY GROUPS
SUPPLIERS AND CONTRACTORS
•Procurement policies (requirements,
criteria for evaluation)
•Other procurement-related concerns
(cost, terms of payment, mode of
shipment, warranties)
•Compliance with relevant national laws
and regulations
INDUSTRY GROUPS AND PARTNERS
•Business growth and continuity
20
G4-27
•Formal explanations and responses to
queries
•Periodic conferences, seminars and
fellowship activities
INVESTORS
•E-mails, letters and memos
G4-27
•Constant monitoring and upgrade of
systems
•Timely provision of customized feedback,
advice and/or solutions to inquiries
•Accreditation
How do we address them?
REGULATORY AGENCIES
•Personnel capability to address concerns
•Online portals, face-to-face meetings
and learning sessions
What matters to them?
•Cascade of policies
•Real-time updates
•Partnerships
•New projects and initiatives
•Attendance to meetings
•Regular correspondence through
e-mails, letters and memos
•Update on existing projects
•Real-time updates
•Takeaways from activities conducted
•Post-event feedback
21
Let’s
set financial
wellness
in motion
22
23
W
e aim to help every Filipino attain a strong financial foundation on which they
can build a healthy and productive financial future. Our wide array of products
and services address our clients’ needs throughout their path towards financial
freedom. In addition, our offerings are designed to help achieve long-term benefits for
our clients, from fostering the value of saving, building healthy credit, to learning how
to invest wisely and protecting assets. With this approach, BPI is well-positioned to be
the Filipino’s banking champion, a champion that the Filipino public could trust to
lead them to financial wellness, empowerment, and growth.
32%
8%
5,000
increase in number
of Jumpstart accounts
increase in number
of AMTG investors
individuals provided with
stock market education
₧805.9B
₧824.8B
₧824.8B
sum insured
for earthquakes
sum insured
for typhoons
sum insured
for floods
25
Instilling a Culture of Saving
With only 43% of Filipino adults currently
having savings (BSP National Baseline Survey on
Financial Inclusion 2015), taking steps to improve
this basic indicator of financial wellness is an
imperative for us.
We offer a convenient means to help depositors
regularly set aside a portion of their salary
for future needs. The BPI Save-Up Account
automatically transfers an amount specified by the
depositor on a regular basis from an ATM source
account such as Express Teller Savings, into a
BPI Save-Up.
BPI Save-up also offers free insurance coverage
through a tie-up with Philam Life Assurance
Corporation. The insurance coverage–basic
life insurance, accidental death, and accidental
dismemberment–does not require medical
clearance or premium payments. The coverage can
equal to as much as ten times the account balance,
with a maximum of ₧4 million.
Year-on-Year Growth in
Volume of Save-Up Accounts
Starting Them Young
Aside from scheduled automatic fund transfers,
one may also transfer funds to his Save-up account
any time. To further promote the habit of saving,
the Save-Up account does not come with an ATM
card and withdrawals cannot be made over the
counter either. A Save-Up client may transfer and
track his funds via our electronic banking portal,
BPI Express Online
(www.bpiexpressonline.com), the BPI Express
Mobile app, or through our phone banking
facility, BPI Express Phone (89-100).
In 2014, total savings generated via Save-Up
accounts grew by 26% from 2013, despite the
10% drop in the number of accounts. The average
account size likewise increased significantly by
39%, showing that the average Save-Up account
holder is able to save more over time.
Realizing that saving has more lasting impact when
the habit is formed early on, we created a deposit
product for the youth with the mentoring of their
parents.
Branded as Jumpstart, it is BPI’s banner product
in the BSP’s Build Up on Your Future (BOYF)
Advocacy Program. Jumpstart’s product features
enable parents to have a tool to teach their
children practical money management and
introductory banking, which are disciplines that
hold value for life. These features are:
• Guaranteed Savings protects a portion of the
child’s funds from unplanned withdrawals, to
help attain a future goal.
•An allowance transfer facility ensures that the
child’s allowance gets credited to his Jumpstart
account on a timely basis.
• The Jumpstart ATM is as good as cash at over
40,000 BPI Express Teller Payment System-
2014
2012
2013
2014
Number of Jumpstart^ Accounts
32%
39%
38%
23%
26
By 2014, the Jumpstart account holder base had
grown by 32% from the previous year while
volume has also increased by 14%.
14%
Average Savings per Account
2012
The continuing success of Jumpstart stems from
targeted companies implemented by BPI’s Deposit
Products Business Unit and Field Sales, together
with the branches. Integral to these campaigns
were the Financial Wellness Seminars for kids
conducted in partner schools as well as product
and advocacy awareness spread through Digital
and Social Media Channels.
19%
33%
2013
• Cellphone reloading can be done at the
nearest BPI Express Teller ATM, by calling
BPI Express Phone at 89-100, by accessing
BPI Express Mobile Menu on the cellphone,
or on www.bpiexpressonline.com.
Savings Volume of Jumpstart^
Accounts
26%
2012
accredited stores. It’s also the child’s Debit and
Privilege Card when used at partner merchant
outlets, where perks and privileges are offered.
2013
2014
2012
2013
2014
27
Promoting Responsible Borrowing
Bringing Investing Closer to People
We help families stretch their cash flow through
the low-interest BPI Family Credit Card. Aside
from having a low finance charge at 2%, it also has
an affordable annual membership fee.
Clients who became victims of
of super typhoon Haiyan, locally
named Yolanda, availed of a onemonth Payment Holiday on credit
card payments. Some 3,200 clients
benefited from this program.
Bringing the benefits of a robust economy to more
Filipinos is one of our aspirations. We believe our
investment products bring this aspiration closer
to reality.
We also extend our services to individuals often
tagged ineligible to acquire a credit card through
our Express Start Program. These include those
who don’t have a fixed or regular income such as
homemakers and retirees, and those who for some
reason are unable to submit income documents
such as fresh graduates and students who are
at least 18 years old. Such individuals are only
required to maintain a deposit account with
the Bank over a certain period of time. Annual
membership fees for individuals in this program
are waived for the first year.
The BPI Asset Management team offers various
investment options for clients looking to
earn more than just interest on savings. These
investment products enable clients to reach their
long-term financial goals sooner by making their
money “work harder” through higher earning
investment instruments.
Part of our mission of fostering financial wellness
is dealing proactively with pre-delinquent clients
through special payment arrangements. Our
Pre-Delinquency Management service caters to
clients undergoing financial difficulty resulting
from unemployment, medical conditions and
natural calamities, among others.
Through the special balance conversion facility of
this service, clients who meet certain requirements
may have their credit card debt restructured.
Payment terms under this facility range from
six to 18 months at 1% interest; the minimum
amount due on the credit card debt becomes the
required down payment under the restructuring.
In exceptional cases, the repayment period may be
extended up to 36 months. Processing of requests
to avail of this facility are completed within three
days of the request.
Filipinos seeking to achieve financial growth
should not be hindered by a general lack of
knowledge of alternative income sources such as
from investing.
As a result of our innovative approaches and more
accessible channels, our client roster for this sector
increased by 8% from 81,479 in 2013 to 87,869
in 2014. Clients 30 years old and below comprise
the majority at 35%.
The use of alternative channels, such as the
Internet and mobile, for investment-related
transactions further increased to 47% in 2014
from 41% in 2013. For the same years, use of
electronic statements also grew by 40% to 9,164
from 6,539.
Number of AMTG Customers
8%
6%
2012
28
2013
2014
29
30
Advocating
Financial Literacy
Promoting
Investing as a Lifestyle
BPI consistently provides investor education
programs. An important part of our efforts is an
investment summit called Investment Roadmap
which we conduct in various parts of the country.
This summit highlights goal-setting and the means
to achieve them through investing.
The world of investing is unfamiliar to most
Filipinos. While people generally desire much
bigger returns on their savings, their lack of
knowledge and training in the many investment
options keeps them from fulfilling their potential
for financial growth.
We also keep our clients informed on the state of
economy and financial markets through financial
advisories entitled BPI Asset Management WISE
(Weekly Investment Series), Investment Insights
and Investment Academy.
We are adequately addressing this need through
investment seminars and training. We educate our
clients on the how-tos of investing based on their
particular capacity, willingness, and risk appetite.
Harnessing the power and reach of social media,
we are gradually transforming public perception on
investing, making it more accessible and attainable.
31
Offering a Wide Array
of Investment Options
Educating People
on the Stock Market
Creating
Filipino Millionaires
To determine the best investment option for a client, BPI
Asset Management considers both investment capacity and
risk tolerance. The client is given access to the best available
investment information to build confidence and set realistic
expectations from investments.
Only 1% of Filipinos invest in the stock market,
in contrast to Hong Kong’s 30% plus. We aimed
to change this trend by democratizing access to
financial markets and increase the stock market
penetration rate in the country. To this end, BPI
Securities established the Invest-in-You Trading
Academy (I-TRAC) to educate potential retail
investors on stock market investing.
One of the ways by which BPI Securities promotes
investing as a lifestyle is through the Pinoy
Millionaryo Club (PMC). We have virtually
become the industry leader, being the only broker
in the country with a successful track of hosting
a “community” of investors. Through social
events, seminars and social media campaigns,
clients become passionate about investing and
gamely interact with one another in a more deeply
connected environment. Our goal is to help create
as many Filipino millionaires as possible.
Our clients with limited financial know-how or start-up
investment money are assisted through our Investment
Funds. Unlike deposit accounts (savings and current
accounts) that are generally for emergency and daily
needs, our investment funds serve longer term financial
goals, like tuition, retirement and home ownership. Our
Investment Funds allow for greater flexibility and variety
of investment choices:
BPI Unit Investment
Trust Funds (UITF)
ALFM Mutual Funds
Regular Subscription
Plan (RSP)
These allow clients to start an investment account for as
low as ₧10,000. Our UITFs are invested in the money
market, bonds, and equities. Clients may choose particular
funds to invest in, according to their preferred investment
strategy. Withdrawal of earnings from UITFs can be made
at any time.
These funds are managed by BPI Investment Management
Inc. (BIMI), a wholly-owned BPI subsidiary. Our
professionally managed mutual funds provide more
diversification than most investors could achieve on their
own. ALFM mutual fund offerings by BIMI only require a
minimum investment of ₧5,000.
This move propelled BPI Securities to be the 9th
highest ranked broker in terms of market share
among 184 Philippine trading participants. It also
currently holds second place among all online
brokers in the country. The program’s effectiveness
is evident in the increased volume of trade
transactions, which has multiplied five times over
the past two years.
I-TRAC’s investor education programs promote
stock market investing to ordinary citizens in
schools, workplaces and various organizations in
the country. Since 2013, the I-TRAC program has
served more than 5,000 individuals. Stock market
education seminars now run five to six times a
month, where previously they were held twice a
month in 2013.
Having access to sound financial advice helps our
client to properly navigate the market, make sound
investment decisions and choose the right stock
options. As members of PMC, they benefit from
one-on-one sessions with our stock market coaches
and are given priority in our investor education
seminars. Moreover, they get access to exclusive
research and special events.
RSP allows clients to nominate a regular contribution
amount for their investment account for purchase of units
or shares, on a monthly or a quarterly basis, working
like forced savings. Aside from delivering affordability,
convenience and control, RSP results in higher returns
for investors due to cost-averaging. There is no penalty for
missing a scheduled contribution.
Since the lowering of minimum investment amount
requirements in 2013, there has been a marked increase
in our investor count. For the overseas Filipino segment,
investors increased by 40% to 6,552 in 2014 from the
previous year’s 4,668. Investors from the Personal Banking
segment grew by 12%, from 36,836 in 2013 to 41,200
in 2014.
32
33
Helping Prepare for the Unexpected
Testimonial
Being in a country frequently visited by typhoons
and other natural calamities, we are taking the lead
in instilling the value of protecting one’s assets and
managing risks.
BPI/MS Insurance Corporation (BPI/MS)
issued a total of 236,791 insurance policies in
2014, serving 132,211 clients. Most clients availed
of our motor insurance policy, with 118,840
policies; followed by fire insurance with 78,151;
marine insurance with 13,349; and personal
accident with 9,679 policies.
Jimmy is a veteran insurance agent. He is now
just 2 years shy of his 25 year engagement with
BPI/MS.
BPI/MS relies on its 12 branches/satellite offices
nationwide and the Unibank network to bring our
products to the market. Our distribution channels
include agencies, brokers, bancassurance, branches,
and the Japanese Marketing Division.
If a life well-lived means being married for
forty-three years, having four children and
13 grandchildren, then accountant Jaime O.
Mayoral is living the high-life indeed. Add a
winning attitude and great outlook to life; he is
among the bank’s best success stories.
Total premiums generated for 2014 amounted to
₧5.23 billion. Of this amount, 59% is attributed
to fire insurance, 28% to motor insurance and
13% to the other products.
“At 68, I am still an active BPI/MS Agent.
Compared to other businesses, you need capital.
You need space. But being an insurance Agent,
what you need is knowledge. For us senior
citizens, that’s what we have. Experience is the
best teacher, and it made us sharp and credible.”
Meanwhile, total sums insured for natural
catastrophe perils are ₧805.9 billion for
earthquakes; ₧824.8 billion for typhoons; and
₧815 billion for floods.
Insurance Policy Type
Motor
%
118,840
50%
Fire
78,151
33%
Marine
13,349
6%
Personal accident
9,679
4%
Other casualty
4,647
2%
Engineering
1,817
1%
10,308
4%
Bonds and other
insurance policies
Across our major product lines, 236,791 insurance policies were availed of by
policy holders in 2014. Collectively, motor, fire and marine insurance comprise
89 percent of this total.
Jaime Mayoral
Insurance Agent
BPI/MS Insurance
“There is ‘less stress’ in being an
agent because you manage your
own time, especially so, if you
are in the right company with
the right products.”
There is, according to him “less stress” in being
an agent because you manage your own time,
especially so, if you are in the right company
with the right products. Jimmy also appreciates
the high regard that agents like him are given at
BPI/MS. He says, “You can feel the warmth and
respect that the staff is giving to agents here at
BPI/MS, especially to us elderlies.
Jimmy enjoys the freedom of not being limited
to what his pension brings. He says, “having
good products and the right clients, being an
agent is more profitable. Ultimately, there are
less financial worries. At my age, I am still
able to help our relatives in the province of
Pagudpud, Ilocos, Norte in their livelihood.”
Beyond the endless financial opportunities,
selling products that truly helps the clients
gives meaning to his work. “I am still an active
member of insurance clubs and associations.
This helps me become an even more effective
agent.”
“I will continue being a BPI/MS agent for as
long as I could.”
34
35
Let’s
foster
financial
inclusion
36
37
F
inancial inclusion, or the delivery of financial services suited to low-income
individuals and households, is a challenge that we at BPI try to address through
our various products, services, and channels.
By making banking more accessible, we help make financial well-being a reality for
more Filipinos.
14%
growth in number
of Easy Saver accounts
32
cities covered by enterprise
development program
over
200
franchise outlets
thriving
39
Banking the Unbanked
Providing Payment Solutions
FS7
More than 21 million or 56% of the total employed persons in the country are minimum wage earners (2015
Philippines in Figures, Philippine Statistics Authority). This reality makes it difficult for a lot of Filipinos to save
enough to open and maintain a regular bank account. Our Easy Saver deposit product was developed to change this.
Easy Saver
An Easy Saver account may be opened with
only ₧200 and a ₧50 ATM card fee, with no
maintaining balance required. Only a minimal
fee of ₧5 per transaction is charged for BPI
ATM withdrawals and debit transactions such
as payments via the Express Payment System/
POS, ATMs, mobile app, among others.
By 2014, the number of Easy Saver accounts
increased by 14% from 2013. These accounts
comprise a significant portion of BPI’s
depositor base.
Average account size steadily increased by
12% annually from 2012 to 2014. This
indicates that Easy Saver is able to serve
account holder needs.
These numbers show that given access to
affordable deposit products, Filipinos—from
all walks of life—are able to gradually build
savings through their deposit accounts.
Debit Cards
All ATM cards issued by our Bank are debit
cards. These cards may be used for cash
transactions in lieu of actual cash via Express
Payment System (EPS). The amount of a
purchase is deducted from the account’s
available balance. In support of BSP’s thrust
of reducing the circulation of cash and coins,
the Bank provides incentives to its customers
who use the EPS through a rebate or reward.
This gives risk-averse and practical customers a
seamless way to pay for everyday needs.
Prepaid Cards
Our prepaid cards provide an efficient way for
those without regular BPI savings accounts
to manage their finances. They allow the
cardholder to pay for purchases and services
with a pre-deposited balance, which when
Total volume of savings from Easy Saver
accounts also grew by 27% from 2013.
number of Easy Saver Accounts
Our debit and prepaid cards play significant roles in helping individuals previously unfamiliar with banking
and financial transactions. These provide simple, convenient and secure payment options.
Savings Volume of Easy Saver
14%
Average Savings per Account
51%
12%
12%
27%
used up may be replenished as desired by
the cardholder.
This is the entry-level product for individuals
that may have specific needs or may not yet
have the credit history like the young and
underbanked individuals.
As prepaid card holders become more
comfortable with cashless transactions, they
eventually signed up for our other products.
Over the last two years, about 30,000 prepaid
card holders opened deposit accounts with us.
Pantawid Pasada Prepaid Cards
This prepaid card variant, launched for the
Department of Energy, is aimed at helping
drivers of public utility jeepneys (PUJ)
cushion the impact of high fuel prices. PUJ
drivers may present their Pantawid Pasada
prepaid cards in retail gasoline stations in
order to avail of government fuel subsidies.
When loaded with money through BPI’s
ExpressLink real-time funds transfer system,
the cards may be used at most of the retail
gasoline stations nationwide.
69%
The use of prepaid cards reduces operational
cost and relevant carbon footprint of the Bank
from the management of ATMs as well as the
risk to theft at ATM centers.
2012
40
2013
2014
2012
2013
2014
2012
2013
2014
41
Making Loans Accessible
FS7
Many Filipinos are hard-pressed to achieve financial stability and security for lack of funds and access to financial
services. By providing easy access to loans, the Bank is making good progress in improving this situation.
BPI Housing Loans
BPI Ka-Negosyo
We continually support events and gatherings that
provide the public with information on property
financing through various means.
A good number of Filipinos who plan to start a
business are unable to do so for lack of confidence
or financial capability. We help them overcome
these obstacles by providing financing assistance to
both existing and start-up Filipino entrepreneurs
through our BPI Family Ka-Negosyo loans.
Short-term, long-term, or franchising loans serve
to bridge capital requirements suited to different
types of businesses.
We actively support the conduct of housing fairs,
usually in consumer frequented areas like malls. By
participating in these fairs, we reach prospective
homebuyers. Aside from being able to educate
the public we are able to receive and process loan
applications on the spot. This way, we reach our
market more efficiently. This resulted in increase in
housing loan applications.
We hold investment talks to deepen relationships
and nurture goodwill with our clients. In these
talks, we share real estate trends and updates and
enrich knowledge on housing loan products to
improve understanding of market opportunities.
The Bank encourages community and individual
growth of real estate brokers by widening the range
of our accreditation and compensation programs
for bona fide members of broker communities.
We also reward successful loan referrals by
accredited brokers with corresponding incentives
through our Brokers Circle Incentive Program.
This scheme aims to inspire more brokers into our
roster. This has resulted increases in loan referrals
and actual real estate loan transactions.
42
We make investing in a business more interesting
and appealing through social media posts and
online community fora. Through these channels,
we promote positive and educational conversations
around business strategies, business growth and
financial wellness, among others.
brands vetted by BPI for business soundness.
This allows for intelligent and less risky choices
by our Ka-Negosyo loan clients.
We further alleviate overwhelming concerns
of starting-up a business through extended
payment terms.
We deliver this product through a 182-strong
BPI Ka-Negosyo staff across 813 bank branches
and 10 provincial centers nationwide.
In 2014, we conducted four major roadshow
events in Metro Manila and six in the
provinces, contributing to 14% growth in
number of accounts.
To educate would-be entrepreneurs, our KaNegosyo team regularly conducts investment
seminars, training sessions, and solutions
presentations.
Ka-Negosyo fosters partnerships with various
business organizations such as the Philippine
Franchise Association, Association of Filipino
Franchisers Inc. and Go Negosyo who share our
goal of helping entrepreneurs and business start-ups.
We also conduct roadshows where we present our
“Ka-Negosyo Best List,” a short list of franchise
43
Testimonials
Cheysserlyn Ting
Entrepreneur
Daddy’s Toasted Siopao
Marlowe and Roselle Mendoza
“We made the right decision
in starting young.”
From Fruits to Franchise
Cheysserlyn Ting always had a passion for
entrepreneurship. Her parents made a decent
living from selling fruits and vegetables in
Cauayan, Isabela. Now, at 26 years old,
her passion compelled Cheysserlyn and her
husband to set up their own business franchise
of Daddy’s Toasted Siopao.
Through BPI Ka-Negosyo, managing the
franchise became easier. “We didn’t have a hard
time contacting them – the internet made them
easy to reach via their website. They lent us our
44
Restaurateurs
Red Engine Diner, Hermana,
The Recados
Restaurant Success
start-up capital and once we started discussing
terms and conditions, the Ka-Negosyo team
was very helpful and encouraging.” she states.
It has only been two months but Cheysserlyn
and her husband are enjoying their experiences
in franchising. “I also believe we made the right
decision in starting young. My family and I can
enjoy our financial independence this early and
create a self-sustaining means for our security as
we grow older.”
Since getting married in 2006, Marlowe and
Roselle Mendoza have dreamt of putting up
their own restaurant. While both worked hard,
capital was their main challenge.
The Mendozas found a reliable partner for their
initial enterprise with BPI Family Savings Bank’s
Ka-Negosyo Business Loans. “The Ka-Negosyo
team really helped us a lot. They knew what we
needed, allowed us to negotiate, and they were
also motivated to help us succeed.”
“BPI knew what we needed,
allowed us to negotiate, and
they were also motivated to
help us succeed.”
Their first business funded by Ka-Negosyo was
Red Engine Diner in Makati. Over the years,
the Mendozas built other dining places such
as Hermana, and The Recados - all possible
through Ka-Negosyo.
“We are so grateful to have found one in BPI
Family Ka-Negosyo. For middle-class people
like us who were not born with a silver spoon,
cashing in on an opportunity when it presents
itself is priceless”, Roselle exclaimed.
45
Guiding Young Minds
Educating Emerging
Entrepreneurs
Insuring Your Future
Sharing Financial
Growth with Employees
The Bank believes in the Filipino youth and in the
integrity of their ingenious ideas. We encourage
idea innovation among our country’s brightest
students who lack the groundwork for future
business development.
BPI promotes entrepreneurship and empowers
aspiring entrepreneurs as catalysts of positive
change in communities.
BPI/MS in cooperation with BPI Globe BanKO
helps those in the lower income segment by
providing innovative and affordable microinsurance products and taking on the transfer of
risks for their protection.
Through the initial public offerings (IPOs)
services of BPI Capital Corporation, we
influence our clients to allocate stocks for their
employees. This affords the employees the
financial benefits gained as the company
goes public.
The BPI-DOST Science Awards provides an
avenue to present sound concepts having strong
potential to be realized as actual science and
technology-based businesses now or in future; or
help advance current technologies for adoption to
businesses thereby enhancing livelihood.
Counting among the most respected of local
national student awards in the country, excellence
in research and application in the fields of
biology, chemistry, computer science, engineering,
mathematics, and physics is duly recognized and
rewarded. This annual program has been on-going
for 25 years and is run with the Department of
Science and Technology.
46
Our Show Me, Teach Me, MSME program,
in partnership with the Department of Trade
and Industry’s Philippine Trade Training Center
(PTTC), teaches emerging entrepreneurs basic
skills that prepare them to develop better products
matched to market needs.
Food packaging, labeling and product design
enhancement, and assessment for the non-food
sector were among the topics covered in 2014.
The program has covered 32 cities and has trained
1,526 MSMEs since 2010, making our local
products more competitive.
BPI/MS Bahay at Buhay product complements
with microfinance loans which improve our
clients’ social standing. We support and empower
our clients’ financial independence by creating
opportunities that allow them to continue to
generate income.
In 2014, we have enabled around 300
employees to avail of the opportunity to invest
in the company they work hard for. This allows
companies to share their potential to create
wealth with their employees.
PaniguroKO gives the account holder access to a
non-life insurance policy that costs only ₧365 for a
one-year coverage.
47
Let’s
invest in
sustainable
development
48
49
A
big part of our success over the years may be attributed to a conscious effort to
foster sustainable growth, anchored on countryside development and sustainable
energy. We are committed to financing projects that help build more vibrant, modern
and low-carbon communities.
The co-dependence of the countryside and urban areas is important to achieving
significant national economic growth. The 6.1% growth in Gross Domestic Product
(GDP) in 2014 is mainly contributed by growth in the countryside–at 4% (2014
Gross Regional Domestic Product Highlights, National Statistical Coordination
Board). Recognizing this, we strengthened our focus in enabling investments beyond
the National Capital Region (NCR).
At BPI, we make sure that the growth we enable is sustainable and inclusive.
1,058 GWh
RE generated
94B
pesos invested in
countryside development
(Corporate Clients)
234 GWh
saved from EE
projects
97B
pesos invested in various
development projects
(BPI Capital)
506B
pesos worth of loans for
projects in Metro Manila
257B
pesos raised for various
development projects
(BPI Capital)
51
Ensuring a Balanced
Development
Outstanding Loans
Increasing Accessibility
Where It Matters
In million pesos
87,126
15%
8,900
1%
c Agriculture, Forestry and Fishing
14,226
2%
dConstruction
12,674
2%
e Financial Intermediation
95,631
16%
f Hotels and Restaurants
10,367
2%
170,067
28%
6,073
1%
102,709
17%
j Services
21,339
4%
k Transportation, Storage and
Communication
24,784
4%
l Utilities
46,392
8%
b BPI Leasing and Rental
a
b
l
c
d
k
j
e
600.29B
Our comprehensive range of lending products
includes short term inventory and trade
financing, term facilities for the financing of
capital expenditures or acquisitions and project
financing. These are aimed at spurring growth
in both urban and countryside. We have evolved
from being a funding partner to being a financial
advisor of our clients. We also offer alternative
financing for clients who are raising capital
through IPOs and through the issuance of bonds
and corporate notes.
%
a Wholesale and Retail Trade
FS6
Our lending to corporate entities is propelling
the growth of the country’s business sector, with
more than ₧600 billion released to 100,223
private enterprises in 2014. Such lending has
benefited not only large business conglomerates
but also small and micro-enterprises.
Financing
Strategically located business centers and subcenters all over the country help us to reach clients
over wide areas. In 2014, we served 34,960 large,
medium, small, and micro-enterprises at these
business centers, an increase of 20% over the
previous year, with San Pedro, Laguna (30%) and
Cebu City (25%) having the highest increases.
While positioned to serve large and medium
enterprises–conglomerates and multinationals
whose assets are worth ₧50 million to ₧100
million–our corporate banking also provides loans
to small enterprises and micro-businesses, at ₧5.7
million and ₧2.2 million, respectively in 2014.
Close to a third of our corporate lending goes to
clients in the manufacturing sector at 28%. The
remaining goes to clients in real estate, renting
and other business activities (17%), financial
intermediation (16%), and wholesale and retail
trade (14%).
In 2014, our corporate clients grew by 15% from
the previous year, with total outstanding loans
increasing by 30%.
gManufacturing
f
i
h Mining and Quarrying
i Real Estate, Renting and
other business activities
h
g
Distribution of Loans per Region and Sector
Metropolitan
A reas
Provinces
151,817
18,251
90,960
11,749
85,657
9,974
59,056
28,070
42,979
3,412
Transportation, Storage and Communication
20,527
4,257
Services
14,768
6,571
Agriculture, Forestry and Fishing
7,516
6,710
10,180
2,494
7,605
2,762
8,900
-
5,992
81
In million pesos
Manufacturing
Real Estate
Financial intermediation
Wholesale and Retail Trade
Utilities
Construction
Hotels and Restaurants
BPI Leasing and Rental
Mining and Quarrying
20
52
60
100
140
180
53
Boosting Countryside Growth
DISTRIBUTION OF CORPORATE CLIENTS
We give priority to investments that create significant economic and social benefits in the countryside. In
2014, we provided ₧94.3 billion in loans for countryside businesses, 30% of which went to wholesale and
retail trade, 19% to manufacturing, 12% for real estate, renting and other business activities, and about
7% to food security-related enterprises.
Among other purposes, these business activities inherently create local or regional job opportunities
encouraging more individuals to live and work in the provinces, rather than move to urban areas. By
supporting enterprises in food, retail, transportation and storage, we help enhance the flow of economic
value between urban centers and the countryside.
This contributes to the 10.6 million total employment in 2014 by the wholesale and retail trade,
manufacturing and real estate sectors in the country (Philippines and Figures 2015, Philippine
Statistics Authority).
Outstanding Loans
Distributed to the Provinces
(Total ₧94,331 billion)
Financing
%
28,070
30%
b Agriculture, Hunting, Forestry,
and Fishing
6,710
7%
cConstruction
2,494
3%
d Financial Intermediation
9,974
11%
e Hotels and Restaurants
2,762
3%
18,251
19%
81
0%
11,749
12%
i Services
6,571
7%
j Transportation, Storage and
Communication
4,257
4%
k Utilities
3,412
4%
a Wholesale and Retail Trade
a
b
c
d
94,331M
k
j
e
i
g Mining and Quarrying
h
54
fManufacturing
f
g
h Real Estate, Renting and
other business activities
55
Advancing the Agribusiness Sector
Feature
BPI provided a loan to onion farmers’
cooperative, KASAMNE or Katipunan ng mga
Samahang Magsisibuyas ng Nueva Ecija.
BPI has been lending to the agribusiness sector for
more than 30 years now. Recognizing our potential
to create positive social and economic impact, we
launched Agribusiness Solutions in March 2013,
an enhanced lending program for the use of stateof-the-art technology in piggery and poultry sector
operations. Other types of loan products include
investments for agricultural crops and post-harvest
operations such as rice mill, dressing plant, meat
processing plant, slaughter house, cold storage,
and feed mills, among others.
The loan proceeds invested into piggery and
poultry projects result in healthier animals, better
productivity and better feed conversion ratio.
Through these projects, piggery operators typically
recover their investment in eight to nine years;
poultry operators, five to six years. The proceeds
were also invested in biodigesters for production
of biogas fuel from animal wastes, saving for the
farmers around 65% in electricity cost while
significantly reducing their greenhouse gas
(GHG) emissions.
In 2014, the loans provided through these
products help boost job creation and food
production in the rural areas. A portion of these
loans were channeled through rural banks with
loan portfolios for agriculture and agrarian reform.
Majority was released directly to individual
borrowers and corporate clients. Two cooperatives,
a federation of onion growers in Nueva Ecija and
a sugar cooperative in Batangas, also availed of the
lending facility.
The success of Agribusiness Solutions in 2014 was
a result of aggressive marketing and promotional
activities by a team of five product managers and
three technical staff. Aside from undertaking
advertising campaigns, Agribusiness Solutions
participates in conventions and exhibits for this
sector, like the National Hog Convention, Inahgen
and Agrilink. It also holds technical fora and
product briefings. In 2014, such briefings were
conducted in 10 of our business centers namely
Dagupan, San Fernando, Bulacan, Laguna,
Batangas in Luzon; Bacolod, Iloilo and Cebu
in the Visayas; and Davao and Cagayan de Oro
in Mindanao.
KASAMNE was organized and registered in
1989 at the Bureau of Agricultural Cooperative
and confirmed by Cooperative Development
Authority in 1991. It has a membership of
about 450 onion producers and farmers from
17 cooperatives in the towns of Bongabon,
Palayan, Laur, Gabaldon, Rizal, Gen. Natividad,
Pantabangan and Palayan, and San Jose City of
Nueva Ecija province.
The cooperative exists to help regulate onion
prices year-round, protecting farmers from
low prices during harvest season and local
consumers from price hike during off seasons.
It also helps farmers earn sufficient income
throughout the year.
Financing
Smallholder Farmers
Extending the shelf life of the produce is key to
keeping competitive prices. KASAMNE farmers
turned to BPI to help them address
this challenge.
With financing from BPI, onion growers were
able to acquire and operate a cold storage
facility. A portion of loan proceeds were also
used as working capital of a farm input trading
business. Now, the cooperative generates 95%
of its revenues from storage fees and profits
from sales of farm inputs.
KASAMNE produces 6,463 metric tons
(or 235,000 50-kg bags) of onions a year,
accounting for at least 5% of the country’s total
onion production.
56
57
Raising Capital to Mobilize Growth
Earnings
Apart from providing direct loans, the Bank also
helps clients raise capital through its investment
banking subsidiary, BPI Capital. The Bank sources
and manages capital in the form of debt and bonds
from other investors—individual, corporate, or
institutional. The capital raised helps recipient
companies activate, continue, or complete projects
that advance sustainable development.
For these services, BPI generated combined earnings of ₧634 million. These were mainly contributed by
our earnings from financial services to the retail, food and energy sectors at a combined 50% share.
In 2014, BPI Capital enabled ₧354.6 million
in investments to various development projects.
Of this amount, BPI Capital helped raise ₧257
million (73%) and directly funded ₧97.4 million
(27%). Nineteen percent of the total investments
went to real estate projects, 16% to energy, 9% to
telecommunications, 4% to infrastructure.
Capital Investments
Direct
loans
In million pesos
Raised
by BPI
Conglomerate
28,521
82,880
13,936
53,800
12,690
43,500
25,000
25,000
8,150
25,000
Real Estate
Projects Related to
Sustainable Development
Capitalization
Raised by BPI
Capitalization
Loaned from
BPI
Income
Earned by BPI
Conglomerate
82,880
28,520.50
81.48
Property/Real Estate
53,800
13,936.17
62.21
Energy
43,500
12,690.00
92.52
Finance
25,000
25,000.00
88.98
Telecommunications
25,000
8,150.00
30.69
Infrastructure
11,000
1,517.00
19.94
Retail Services
7,500
2,981.58
115.35
Food
6,900
3,309.86
111.95
Manufacturing
1,600
1,313.00
31.21
257,180
97,418.00
634.33
In million pesos
TOTAL
Energy
Finance
Telecommunications
Income Earned by BPI
(Total ₧643.33 million)
a
Infrastructure
1,517
11,000
Retail Services
2,982
7,500
Food
3,310
6,900
1,313
1,600
Manufacturing
20
60
80
100 120
b
i
c
634.33M
d
h
e
f
g
58
Financing
%
a Finance
88.98
14%
b Conglomerate
81.48
13%
c Property/Real Estate
62.21
10%
dManufacturing
31.21
5%
eTelecommunications
30.69
5%
fInfrastructure
19.94
3%
g Retail Services
115.35
18%
h Food
111.95
18%
95.52
14%
i Energy
59
Strengthening Business Resiliency
Feature
Since business resilience is vital to continuing
countryside development, the Bank has partnered
with the World Wildlife Fund for NaturePhilippines for conducting studies that measure
the climate vulnerability of major cities in the
Philippines outside of Metro Manila.
Entitled “Business Risk Assessment and the
Management of Climate Change Impacts,” a
total of sixteen cities to date have been assessed.
The study ensures that climate change impacts
BPI served as joint issue manager, lead
underwriter and bookrunner for Century Pacific
Food Inc. (CPFI), when it went public in May
2014. CPFI is the recognized market leader in
canned fish, canned meat and milk products
and the pioneer of the country’s tuna
export business.
are correctly considered and industry players,
including businesses, are able to make informed
assessments of climate change impacts and
realistically plan their sustainability strategies.
CPFI’s initial public offering (IPO) in May
2014 garnered an overwhelming response
both from institutional and retail investors.
It was more than 3.5 times oversubscribed.
The initial offer was 229,654,404 shares for
a total offer size of ₧3.16 billion. Following
the strong investor demand, the IPO price
settled at ₧13.75 per share, on the high end of
the ₧12.50-14.50 per share price range. BPI
successfully executed the transaction within
four months.
Research has so far covered Laoag, Baguio,
Dagupan, Santiago, Angeles, Batangas, Naga,
and Puerto Princesa in Luzon; Cebu, Iloilo and
Tacloban in the Visayas; and Cagayan de Oro,
Butuan, Davao, General Santos, and Zamboanga
in Mindanao.
Raising Capital for
a Food Manufacturer
60
On its first trading day, CPFI reached a peak
of ₧16.04 and closed at ₧15.20, up 10.55%
from the IPO price. Trading volume was at 60.8
million shares or about 26% of the outstanding
shares issued.
The IPO’s proceeds will be used for CPFI’s
capital expenditure, working capital, potential
acquisitions, and debt repayment. The IPO
is a prime example of how BPI’s support to
the business sector stimulates growth in the
economy, creates employment and eventually
impacts the community. The partnership of
CPFI and BPI Capital highlights their common
values of management excellence, corporate
social responsibility and openness
to innovations.
61
Making Headways into Low-Carbon Economy
FS8
In the Philippines, power generation is the biggest
source of carbon emissions. Yet, according to
the Department of Energy (DOE), our country
has about 250,000 MW of untapped renewable
energy (RE) capacity (National Renewable Energy
Board Presentation on RA9513, Renewable Energy
Management Bureau - DOE).
BPI contributes to tapping this RE potential
capacity through the development of products and
solutions that encourage investments in sustainable
energy. BPI’s partnership with World Bank
affiliate, International Finance Corporation (IFC)
enabled the bank to get more deeply immersed
in sustainable energy such as renewable energy,
energy efficiency, and climate finance.
Through BPI’s Sustainable Energy Finance
(SEF) Program, companies can invest in new
technologies aimed at improving the efficiency
of energy generation, distribution and use, and
thereby cutting costs. SEF-financed projects
have also significantly contributed to the bank’s
finance portfolio.
Renewable Energy
We measure the impact of our various sustainable
energy finance projects using three indicators:
• financial value - our business returns
expressed in terms of loan amounts;
• socio-economic value - the value our
clients generate as a result of the financial
services we provide; and
• environmental value - the total reduction
in carbon emissions as a result of these
projects.
From 2010 to end-2014, BPI approved loans for
174 projects, amounting to ₧27.53 billion. Of
this amount, 58% financed 110 energy efficiency
projects, 34% funded 51 renewable energy
projects, and the 8% funded 13 projects relating to
building resilience in agriculture and water supply.
By end-2014, a total of ₧22.8B SEF loans have
been released.
MAJOR SUSTAINABLE ENERGY FINANCING PROJECTS
₧2.3B
Construction of
resilient poultry
facilities
₧2.9B
Wind
₧1.8B
Solar
₧1.6B
Mini-hydro
₧0.9B
Geothermal
₧0.7B
Biomass
These projects are seen to generate 1,058 GWh of
renewable power and save 234 GWh of electricity
valued at ₧3.5 billion in annual financial benefit
to our clients, preventing 813.5 thousand tonnes
of carbon emissions from being emitted every year
throughout the project life.
₧15.8B
Energy efficiency
in buildings and
in manufacturing
₧1.5B
Biogas
Energy Efficiency
Climate Resilience
Sustainable Energy Financing
₧2.3B
8%
₧9.3B
34%
Renewable Energy Produced
and Power Saved (GWh)
234
18%
76
9%
₧3.5B
GWh
₧15.9B
58%
GHG Avoidance (thousand tCO2e)
₧0.90B
26%
1,292
27.5B
Annual Financial Savings
1,058
82%
813
₧2.59B
74%
737
91%
* Total SEF loans released as of end-2014
reached P22.8B funding 174 projects.
62
63
Renewable Energy
Energy Efficiency
The renewable energy projects we supported
include two wind power projects with 51 MW
combined capacity at ₧2.85 billion; six minihydropower plants with 31.59 MW combined
capacity at ₧1.61 billion; 17 biogas projects at
₧1.45 billion; and 13 biomass projects at ₧0.68
billion. Biogas projects include waste-to-energy
(methane capture) models for piggery and poultry
farms. Biomass projects include fuel switch from
fossil fuel and refuse-derived fuels production from
municipal wastes. Biomass includes farm waste
such as rice husk, corn and coconut wastes. We
also partially financed a 20MW geothermal plant
and 12 solar energy projects worth ₧900 million
and ₧1.8 billion, respectively.
Renewable energy projects financed by the Bank
generates one thousand GWh of renewable power
per year valued at ₧2.6 billion in annual financial
benefits for our clients, including ₧1.17 billion
from geothermal projects, ₧275 million from
biomass projects and ₧381 million from wind
power generation.
Through these RE projects, some 737 thousand
tonnes of CO2e emissions are avoided including
215 thousand from biogas projects, 171 thousand
from mini-hydro projects, 135 thousand from
geothermal power plant, 59 thousand from wind
projects, and 136 thousand from biomass projects.
In terms of cost-benefit, geothermal power plant
shows optimal value generation in all three
indicators – financial value for the Bank, socioeconomic value for our clients, and environmental
value in climate mitigation.
RENEWABLE ENERGY FINANCING (₧9.3B)
Project Type
Of the ₧15.9 billion loans for energy efficiency
projects, about 78% or of ₧12.33 billion was
provided for the construction of 55 energy efficient
buildings such as hotels, hospitals, warehouses,
malls, among others. About 18% or ₧2.8
billion financed the purchase of energy efficient
equipment for manufacturing, cold storage and
refrigeration, elevators, among others. About 4%
and 1% were provided to lighting and retrofit of
heating, ventilation, and air-conditioning (HVAC)
systems, respectively.
These projects are estimated to save a total of 76.4
thousand tonnes of carbon emissions per year.
In terms of cost-benefit, construction of energy
efficient buildings and purchase of efficient
equipment delivers optimal value for both BPI and
for the environment.
In total, these projects are estimated to save 234
GWh of electricity annually valued at ₧898
million in annual financial benefits for our clients,
including ₧644 million from efficient buildings
and ₧230 million from purchase and installation
of energy efficient equipment.
ENERGY EFFICIENCY FINANCING (₧15.9B)
Project Type
Loans Provided
%
Wind
2,850,000,000
31%
Construction of Energy Efficient Buildings
Solar
1,827,195,615
20%
Purchase of Equipment
Mini-hydro
1,611,841,520
17%
Biogas
1,451,130,000
16%
Geothermal
900,000,000
10%
Biomass
677,200,000
7%
Loans Provided
%
12,335,900,000
78%
2,808,897,273
18%
Lighting and HVAC Retrofit
625,450,000
4%
Purchase of EE Vehicles
125,000,000
1%
Costs and Benefit of Energy Efficiency Projects
Costs and Benefit of Renewable Energy Projects
3,000
300
2,500
250
2,000
200
1,500
150
1,000
100
500
in million
pesos
64
50
Biogas
Wind
Solar
Mini-hydro
Geothermal
Biomass
in thousands
(t CO2e)
15,000
60
12,000
48
9,000
36
Loan amount
Annual financial benefits
GHG avoided/year (tCO2e)
Loan amount
6,000
24
3,000
12
in million
pesos
Annual financial benefits
GHG avoided/year (tCO2e)
in thousands
(tCO2e)
Construction
of Energy
Efficient Buildings
Purchase of
Equipment
Lighting
and HVAC
Retrofit
Purchase of
EE Vehicles
65
Climate Resilience
Financing
Carbon Reduction
Cost-Effectiveness
Of the 13 projects funded under this facility,
11 projects relates to food security, i.e. poultry
farms modernization, with a combined loan
amount of ₧2.3 billion. A good ₧3.8 million
worth of financing was also provided for Bulk
Water Supply Project in Visayas region.
We also look into the carbon reduction costeffectiveness of each project, that is, cost (in ₧ terms)
per tonne of CO2e cut. Investments in biogas and for
the purchase of energy efficient vehicles proved to be
most cost-effective in delivering climate mitigation
options.
For every tonne of CO2e reduced, biogas projects
required ₧294 investment while purchase of energy
efficient vehicles requires ₧841. In contrast, solar
projects require an investment of ₧21,438 to cut one
tonne of CO2e.
CLIMATE RESILIENCE FINANCING (₧2.3B)
Loans
Provided
%
2,313,600,000
99.8%
3,800,000
0.2%
Project Type
CCS Poultry
House Construction
Bulk Water
Supply Project
Feature
Venvi Agro Piggery
Venvi Agro partnered with BPI for the expansion
of its sow-level piggery capacity from 1,200
to 2,400 heads. A corresponding expansion
of its existing biogas system for pig manure
management is also being established. This is
expected to generate additional electricity from
the increased methane production. The farm site is
at Sitio 3, Barangay 21 San Agustin, San Nicolas,
Ilocos Norte.
Financing acts as a strong incentive for enterprises to
improve their efficiency, deliver better quality goods
and services and invest in innovation. BPI has sought
to make financing for sustainable energy projects
more visible and accessible. Every year, we continue
to endeavor to bring sustainable energy financing to
scale.
25
21.44
20
Business and Community Benefits
The new system provides environmental, health,
and financial benefits including:
14.79
11.67
8.70
10
6.44
ENERGY EFFICIENCY
66
Biomass
Wind
Geothermal
Solar
Purchase of EE Vehicles
Lighting and HVAC Retrofit
Construction of Energy
Efficient Buildings
Purchase of Equipment
0.84
1.43
0.29
Biogas
2.43
Mini-hydro
6.19
5
in thousand
pesos
Electricity Yield and Savings
At 2,400 sow level, the estimated waste
production of the farm is 5,306 m3 of gas daily.
Maximum yield is 11,520 kWh per day or an
average of 376 kWh. The piggery is estimated to
require 600 kWh for its full operation.
Biogas Technology Benefits
As a source of renewable energy for its piggery
operations, the biodigester system has been a
successful venture for Venvi Agro’s previous 1,200
sow-level capacity. The expansion is seen
to take the farm to a higher level of success. The
biodigester system provides environmental and
health benefits and allows for operational cost
savings. Venvi Agro is a good bio-technical model
for biogas digester system adoption.
INVESTMENT COST PER TONNE OF CO2e AVOIDED
15
a 2-site (breed-to-farrow and wean-to-finish)
production facility. Once the re-expanded
biogas system is fully running, the energy from
the system is more than sufficient to power the
farm’s full operations. Electricity bought from the
electric cooperative and from diesel generators
serve as standby backup power.
BPI provided funding for the piggery farm
expansion that includes the biogas system. The
electricity yield from the expansion would allow
the biogas system to be the facility’s main power
source for farming operations.
The Venvi Agro pig farm utilizes the best
technologies for optimal operations even with
extreme variations in weather. The piggery is
• High efficiency renewable power generation from biogas
• Reduced operating costs
• Odor control and improvement of discharge water quality
• Jobs generation in areas of operation
• Improved environmental and sanitation conditions
• Reduced incidence of water borne diseases
RENEWABLE EFFICIENCY
67
Feature
RASLAG Corporation
10MW Photovoltaic Power Plant
RASLAG Corporation built a 10MW
Photovoltaic (PV) Power Plant in Barangay
Suclaban, Mexico, Pampanga, Philippines
through the BPI SEF Program. It is the renewable
energy subsidiary of Angeles Power, Inc.
Partnering with BPI
BPI provided construction funding to the solar
project. The PV power plant is seen to enhance
energy security and address climate change
concerns in its area of operations.
raslag case study
Capacity
It has an output capacity of 14,527 Mwh/year. At
a 99.5% plant availability, it generates an annual
production of over 11,800 MWh.
Carbon Savings
The clean energy generated by the power plant
saves 6,537.15 tons of greenhouse gas (GHG)
emissions annually.
Benefits
• This project is seen to expand access to
electricity and help reduce energy imports
and dependence to fossil fuels.
• It provides a model that directly fills a gap
in the Philippine energy shortage scenario.
• Homes and business are provided secure
clean electricity using an alternative supply
to replace diesel-powered generation.
Let’s
enhance our
CARE systems
70
71
G
arnering a greater share of the mass market is a challenging task–with more
accounts to serve, transaction costs could increase, and delivering high-quality
services may be compromised. This challenge drove us to innovate and develop a more
convenient, accessible, reliable, and efficient (CARE) client servicing systems.
Our diverse channels are designed to suit our customer’s lifestyle. We provide channels
that are accessible anywhere, anytime at the convenience of our client’s homes, offices,
or while in commute – that significantly lower our operating costs. We aggressively
invested in the right IT infrastructure to ensure reliability of these transaction
platforms. These embody the utmost care we have for our customers.
Apart from our traditional transactional platforms (branch, ATMs and cash deposit
machines), we offer digital banking services, including online banking, mobile
banking and phone banking for both retail and corporate clients. These platforms
allow for secure deposits, withdrawals, bills payments, reloading of cell phone credit
and prepaid cards, cash transfers, and remittances, making saving and investing easier
for our clients.
In 2014, the use of electronic transactional channels by our clients rose by 3%. Of the
721 million in total transactions recorded last year, some four out of five (84%) were
made via any of the electronic channels. Only one out of five (16%) was carried out
through traditional channels.
120%
increase in mobile
app enrollment
261%
increase in non-financial
transactions done through
mobile app
154%
increase in usage of BEA
online appointments
73
Banking Anytime, Anywhere
Web-Based Banking
BPI offers its clients highest banking convenience
with its mobile banking services through SMS or
mobile app. The BPI Mobile App is currently the
country’s most downloaded financial application at
the App Store, Google Play and Blackberry World.
It is rapidly changing the face of Philippine banking
as it allows people to transact while on the go.
Financial transactions include fund transfers, sale
and/or purchase of investment, prepaid phone
reloading and bills payments; non-financial
transactions include viewing of account balances
and transaction history.
The Bank has continued to invest to improve
the system, from ₧8.1 million in 2012, to ₧38.9
million in 2014. The investments went toward
maintaining the IT system, developing new app
features and promoting the mobile service to the public.
BPI app users grew by 322% to 278,013 in 2013
and by 120% to 611,248 in 2014. Currently, nine
out of 10 subscribers actively use the app.
Number of Transactions
Express Online Transactions
in millions
603
2014
479
2013
in millions
118
2014
116
2013
Electronic Channels
2012
Traditional
Clients enrolled in App
2014
2013
2012
611,248
276,013
143.9
127.1
121.3
Like mobile banking, our web-based
transactional platform, BPI Express Online
(EOL) is a convenient banking channel that may
be used in any location with Internet access.
With the Internet increasingly becoming available
throughout the country, EOL is able to provide
more and more Filipinos with convenient and
speedy access to banking services. The facility has
not only helped the Bank save on costs for brickand-mortar branches construction in far-flung
communities, it has also allowed more Filipinos
to cut down on expenses and on carbon footprint
generated by actual visits to physical branches.
In 2014, EOL recorded 143.9 million
transactions, a 13% increase from 2013. Investors
have increasingly been using this platform. In
2014, investment transactions numbered 349,
595, a 76% increase from the previous year.
BPI Credit Card applicants have also taken
advantage of this platform. In 2014, online
applications reached 4,072, an increase of 56%
from 2013’s 2,617 applications. Deposit accounts
opened via BPI Direct, BPI’s Internet-based bank
subsidiary, increased by 11%, from 37,837 in
2013 to 41,957 in 2014.
65,939
200k
Mobile Transactions
2014
2013
2012
400k
Non-financial
600k
800k
Electronic statements for deposit, credit card
and investment accounts and images of negotiated
checks, are viewable in the EOL; in 2014,
transactions to view these statements
numbered 148,209.
67 9
BEA Online Appointments
3 1
40
60
80
According to the 2013 FMSI Teller Line Study,
the average bank customer waits for two to three
hours for every transaction, while the transaction
itself lasts four minutes. To address this, the Bank
has pioneered an online solution within the EOL
platform that allows clients to make appointments
for bank visits. This solution is called BPI Express
Assist Online, or BEA Online, an enhancement of
our BEA services.
BEA Online significantly reduces the customers’
waiting time in our branches and allows our
branch personnel to serve more clients. In 2014, a
total of 248,851 transactions were done through
BEA Online Appointments, representing a 154%
increase from the previous year.
248,851
97,807
100k
Valuing our Customers’ Time
Transactions
2014
2013
74
In 2014, we invested ₧24.5 million for the
continuous improvement and promotion of EOL;
₧47.4 million in 2013; and ₧29.9 million in 2012.
Financial
19 3
20
More and more of our clients are opting to
go paperless, helping us reduce our resource
consumption. Some 6% of our credit card account
holders, or 38,802 clients, have taken this route,
resulting in considerable savings on paper, printing
and delivery amounting to ₧8.2 million a year.
In addition, 9,164, or 11%, of our investment
account holders have gone paperless, resulting in
savings worth ₧793,255 a year.
150k
200k
250k
300k
75
Cash Management Solution for Business
Feature
Excellence Award for Our Retail Financial Services
Our corporate clients may also carry out
transactions via BPI ExpressLink or ELink, an
Internet-based financial management solution
for businesses of all sizes. SMEs as well as large
corporations benefit from this efficient and secure
cash management and disbursement system, built
on work simplification and automated straightthrough processes.
Functions enabled by ELink include inquiry of
deposit accounts’ balances, data file transfers, fund
transfers, payroll uploading, tax payments, and
collection and payment transactions.
In 2014, ELink handled 26.5 million account
inquiry transactions, including viewed and
downloaded bank statements.
ELink also provides an efficient financial
transaction channel for the supply chain.
Corporate clients can pay service providers and
suppliers who are maintaining BPI accounts by
simply crediting to their accounts online, in real
time. It does away with the lengthy and costly
process of individually preparing, printing and
signing of checks and vouchers.
Top 20%
Corporations
30%
Last year, 2.5 million online payment transactions
amounting to ₧320 billion were done via ELink.
With ELink, business owners can now devote
more time to grow their ventures.
Our continuous marketing efforts through
roadshows and presentations have resulted in the
growing number of ELink clients.
By December 2014, a total of 21,610 clients were
enrolled in ELink, up 19% from the previous year.
Payroll transactions accounting for 80% of our
total number of ELink transactions reached 27.2
million in 2014, up by 16% from 23.4 million
in 2013. In terms of peso amount, total payroll
coursed through the channel totaled ₧289 billion
in 2014.
Our expenditure to continuously improve and
promote ELink in 2014 amounted to ₧9.5
million, from ₧21.5 million in 2012.
Number of Transactions
In millions
21,610
Accounts enrolled
in 2014
MSMEs
70%
76
2014
2013
2012
27.2
23.4
18.8
Bank of the Philippine Islands was named the
Best Retail Bank in the Philippines and Best
Payment Product Awards 2014, in The Asian
Banker’s 13th International Excellence in Retail
Financial Services 2014 Awards.
The Bank was cited for its outstanding financial
performance as a result of revenue and profit
growth, higher fee income and reduction in
cost-to-income ratio. The Bank’s Current and
Savings Deposit Accounts also grew by an
impressive 43%, increasing its market share to
21.28%.
The awards also took note of the Bank’s efforts
and innovative solutions to consistently
deliver cost-efficient services to clients. Among
these solutions is the BPI Express Assist, an
automated queuing system that significantly
reducing transaction time.
The Asian Banker also cited BPI’s high
electronic banking activity, with 84%
of the Bank’s client transactions now
done electronically.
The Asian Banker also named BPI My ePrepaid
MasterCard as the Best Payment Product for
2014. This card, which is meant to address
the shopping needs of those who don’t have
credit cards, contributes over 50% of business
revenues for BPI Prepaid card with 1.6 million
cards activated to date.
77
Transparent and Reliable Remittance Services
The Bank salutes the sacrifices that overseas Filipinos (OFs) who take on job opportunities abroad in order to
give their families a more comfortable life and a better future back home. The remittances that our foreign-based
compatriots send back, account for 10% of our GDP (World Development Indicators 2014, World Bank) and
is the country’s largest source of external funding. Such immense contribution requires a reliable and efficient
remittance system and network, a need that our Remittances and Payments team has sought to answer.
Our remittance business has enabled fund transfers
to be received within 24 hours of sending via
straight-through processing, branch pick-up and
door-to-door delivery alternatives.
The growth in this business is testament to its
efficiency and reliability. In 2014, remittance
volume and transaction count grew by 11% and
10%, respectively, giving us a 29-percent share of
the remittance market.
Transparent and Reliable
Our fixed remittance fees and foreign exchange
rates enable our clients to calculate market prices
and make informed decisions about our services.
We remove the difficulties formerly associated with
remitting money—for example, language barriers,
identification requirements to open a foreign local
bank account, and expensive cross-border transfer
fees—for clients remitting their funds via directto-account arrangement.
Broad Network of Business Partners
Our network of international business partners has
grown from 129 in 2012 to 140 in 2014, while
our domestic distributor partners doubled to 10
in 2014. These partners help us reach underserved
areas, especially where we don’t have a branch.
Through this network, we provide adequate
foreign and local payment financial infrastructure
so that the remittances are safeguarded, sent and
received quickly.
In addition to offering remittance services, we
conduct “pre-departure orientation seminars”
(PDOS) for those about to embark on their work
stint abroad. PDOS are focused on the basics of
money management and are held in what we call
BPInoy information centers in our business and
satellite offices in the country and abroad. BPInoy
centers also provide information on our various
remittance services, banking products and services,
and investment opportunities for the OF.
Maintaining the Bank’s international reach is
a product of several sales channels, including
remittance tie-ups, BPINOY regional partnerships,
online applications, and its largest segment–the
offsite sales channels, which serve the land-based as
well as the sea-based OFs.
Looking after our Filipino Seafarers
The close to 600,000 Filipino seafarers we have
today are estimated to represent 30% of the total
number of seafarers in the world. No less than
20% of remittances sent to the country annually
are from these seafarers.
In 2014, the Maritime Industry Authority
(MARINA), the government agency tasked
with developing, promoting and regulating the
country’s maritime industry, partnered with the
Bank to deliver personal financial management
and financial counseling programs for our seafarers.
These programs help ensure that overseas Filipinos
and their families reap the benefits of the OFs’
hard-earned funds in a positive and enduring way.
Customers Served
211,676
160,288
2012
78
2013
165,825
2014
79
Testimonials
Gerald L. Flora is a veteran Master Mariner
working on board of one of IMS Philippines
Maritime Corporation’s oil tankers. Wishing
a better life for his family, in 1997, Gerald
embarked on working abroad, in search of
higher-paying employment.
Reggie Guillen has been working in Doha,
Qatar for more than three years now. He
has been remitting funds through BPI since
receiving his first salary in May 2012.
“BPI makes my banking transactions so much
easier and faster,” Reggie says. “I can do online
bank transfers to my other BPI accounts, as
well to the BPI accounts of my loved ones from
the comfort of my home, while abroad.”
Reggie Guillen
Assistant Vice President
Hamad Medical Corporation
“I believe that BPI’s remittance
fees are reasonable
and competitive.”
80
Reggie notes the security features of BPI’s
online services and their reasonable and
competitive remittance fees. “I trust BPI
so much that majority of my accounts are
with them—savings, UITF, housing loans,
credit cards. In addition, its over-the-counter
transactions are more convenient than any
other bank in the country,” he says. “BPI has
one of the best banking services, if not the best,
in the Philippines today.”
Adding that the process of subscribing and
redeeming investment funds from BPI is so easy
and convenient, Reggie has recommended BPI’s
products to other Filipinos working abroad.
Reggie says that on those occasions when he
had to ask the Bank to resolve certain issues,
such issues were resolved “in no time.”
Steadfast on his financial goals, Gerald sought
a reliable bank through which he could remit
funds to his family. For 18 years now, he has
done so through BPI.
Gerald says that his loyalty to the Bank
has been matched by the latter’s “secure,
convenient, prompt, and reliable service.”
He finds assurance in the Bank’s stability,
saying it is easier for his beneficiaries to
receive his remittance through BPI, in as
fast as “less than a day.”
Gerald L. Flora
Veteran Master Mariner
IMS Philippines Maritime Corporation
“I feel secure with BPI’s services.
It is safe, reliable, on time,
and convenient.”
Gerald also commends the Bank’s fair
remittance fees and competitive exchange rates.
Apart from providing well for his family,
Gerald wants his money to work as hard as he
does. With his savings, he is able to invest in
stock trading and UITF. He relies on the Bank’s
timely market updates and knowledgeable
fund managers to maintain the security of
his accounts and grow his funds while he
works overseas.
“I feel secure with BPI’s services. I haven’t
had any security issues with them,” says Gerald.
He has recommended BPI to his fellow
OFWs “for the same reasons I chose the
Bank—its safe, reliable, on-time, and
convenient banking service.”
81
Let’s
empower
our people
and society
82
83
P
eople have always been BPI’s valued asset—their integrity, professionalism and
loyalty are the foundations of our competitive advantage.
In 2014, the Board approved the Bank’s new Credo, which further underscores
our emphasis on mutual respect, teamwork and meritocracy to drive outstanding
performance and employee retention. Furthermore, an integral part of our HR
strategy is the development and adoption of innovative approaches to promote
well-being of our people, and to stay as the employer of choice within the
banking industry.
We also offer mechanisms that enable Unibankers to reach out to the communities
where we are and help address development challenges in these areas.
93%
Sustainable Engagement survey
response rate
over
3,000
employee volunteers for
BPI BAYAN projects
85
Engaging Our Employees
Our Human Resources Management (HRM) Group leads our employee management programs. We
employ strategic and systematic approaches to maintain high levels of employee engagement. Career
advancement trainings and development programs are provided for our employees regardless of their
tenure and rank. A wide range of mandatory, functional, leadership and core courses are being offered. We
have also built partnerships with the Harvard Business Publishing for customized programs.
We have promotion acceleration programs, interests clubs, volunteerism platforms, as well as health and
wellness seminars.
Various loans and facilities are also accessible to our employees. Team and individual medical insurance
plans are also provided for. Financial wellness is an achievable goal for our employees from day one,
until their retirement. They have opportunities to participate in seminars that help them make informed
decisions on investing or entrepreneurial planning.
BPI’s Sustainable Engagement Index
100%
80%
81%
85%
84%
2012
2015
83%
60%
40%
20%
2010
2015
Benchmark*
*2015 Benchmark is Tower Watsons’ global norm among Financial Services Companies.
Being aware of our performance is important for us as employer. High level of employee satisfaction drives
our business success. Data that we gather helps us focus our actions toward areas needing
our attention.
Employee Engagement Survey
Our Performance
We gauge our performance as an employer by
our ability to keep our employees highly engaged.
Since 2010, we measure employee engagement
through a survey administered by a third party–
Towers Watson, a leading professional
services firm.
In our 2015 survey, 13,245 employees comprising
93% of total employees provided a response. This
is ten percentage points higher than global survey
response rate. Overall, the Bank’s sustainable
engagement score is at 84% which represents the
number of respondents who consider themselves
sustainably engaged. This is a percentage point
higher than the global norm of financial
services companies.
We adopted Tower Watson’s Sustainable
Engagement framework which indicates how
well we create a work environment that keeps our
employees energized, enabled, and engaged to
contribute positively to our overall objectives as a
financial institution.
Our understanding of our performance on these
three levels of sustainable engagement enables
us to find better engagement approaches and
prioritize initiatives that will significantly raise our
ability to keep our employees highly engaged.
86
87
Engagement Drivers
Our sustainable engagement performance is shaped mainly by our scores on three key drivers, as follows:
Key Drivers
Our Definition
Work Tools and Efficiency
Measures our effort to make the Bank’s operations and
processes more streamlined and cost-effective.
84%
Involvement and
Empowerment
Relates to the management trust placed on employees and
the level of authority they have to do their job well.
81%
Strategy and Direction
Pertains to the clarity of management direction and the
level of optimism about the future of the Bank.
88%
2012
2013
2014
Our Performance
STAFF
MIDDLE
MANAGEMENT
These drivers have the most influence on the level of energy, enablement, and engagement of our
employees towards the Bank. We continually look for ways to improve our performance on these drivers,
by looking into the many other influencing factors such as our ability to provide career development,
training, fair appraisal, and promotion of most competent employees. We set specific metrics and
indicators to track our progress on these areas.
SENIOR
MANAGEMENT
= 6 hours
Average Training Hours per Employee Category G4-LA9
Level
Career Development and Opportunities
2014
42.4
29.15
35.99
Middle Management
62.23
39.69
37.08
Senior Management
55.95
17.57
12.69
Overall, we are steadily moving closer to
our ideal of 40 hours, or five days’ worth of
training hours for each employee yearly.
Average Training Hours
The Bank’s HRM Group monitors the total
and average training hours provided per
employee.
In 2014, Unibankers underwent a total of
525,077 hours of training. On the average,
each of our 14,532 employees received 36.11
training hours.
Promotions
Annually, we are able to carry out promotions,
demonstrating the Bank’s ability to develop and prepare employees to take on higher
responsibilities and roles.
Staff-level employee trained for more hours in
2014, on average reaching 35.99 hours, 23%
more than the 29.15 hours recorded in 2013.
Average training hours of middle and senior
management officers declined by 7% and 28%,
respectively.
In 2014, there were 948 promotions across
all ranks, a 47% increase from 644 promotions
in 2012.
2013
Staff
BPI continuously provides its employees opportunities for professional growth and career development.
We track our performance on this aspect using indicator such as average training hours, number of
promotions, and average time in rank.
88
2012
Number of Promotions
To Assistant
Manager
2012
2014
To Manager
To Senior
Manager
290 | 494
204 | 258
83 | 110
To AVP
42 | 62
To VP
17 | 20
To SVP
7|3
To EVP
1|1
89
Average Time in Rank
We continually review the progress of the careers of our employees to enable deserving employees to
move up faster in the organization.
We use metrics such as average time in rank–the length of stay in a rank before promotion–to track
our performance. From 2012 to 2014, the average time in rank of our employees improved on the
average by two years for most levels.
8
Number of Years in Rank
2012
6
2014
4
2
Assistant
Manager
90
Manager
Senior
Manager
AVP
VP
SVP
EVP
91
Our Employee Statistics
Employee Breakdown
by Region
G4-10
Our total employee headcount grew by 12% from
13,000 in 2013 to 14,542 in 2014.
Year-on-Year Employee Headcount
2013
2014
Mindanao
578
679
752
Visayas
896
1,023
1,203
10,932
11,298
12,587
2012
2013
2014
Senior Management
169
168
180
Middle Management
3,689
4,695
5,410
Staff
8,527
8,161
8,952
Luzon
G4-9
Of our total employees in 2014, 70% are females
and 30% are males. Forty-nine percent are below 30
years old, 43% are between 30 to 50 years old, and
8% are over 50 years old.
2012
14,542
13,000
Employee Breakdown
by Employee Category
12,406
G4-10
Eighty-seven percent of our current employees are in
Luzon, 8% in Visayas and 5% in Mindanao. Sixtytwo percent of our employees are staff level, 37%
belong to middle management and 1% are in senior
management.
2012
2012
2013
2014
Employee Breakdown
by Age Group
G4-10
2012 2013
2014
by employee category
New Employee Hires
by Age Group
2012
2013
2014
Over 50 years old
578
1,097
1,115
30 to 50 years old
896
5,854
10,932
6,049
Below 30 years old
2013 2014
by region
New Employee Hires
by Region
G4-LA1
2013
2014
Over 50 years old
11
16
6,264
30 to 50 years old
152
226
7,163
Below 30 years old
1,771
2,748
Employee Breakdown, by Gender
New Employee Hires, by Gender
G4-10
G4-LA1
G4-LA1
2013
2014
Mindanao
115
164
Visayas
132
236
1,685
2,590
Luzon
2012
8,623
3,783
9,146
1,330
2013
3,854
10,164
2013
604
2014
989
2,001
2014
4,378
92
93
As of 2014, of the 2,990 new employee hires, 67%
are females and 33% are males. Nearly 92% of
them are below 30 years old, 7% are between 30
to 50 years old, and less than 1% are over 50 years
old. Eighty-seven percent of them are in Luzon,
8% in Visayas and 5% in Mindanao.
percent are below 30 years old, 57% are between
30 to 50 years old, and 11% are over 50 years old.
In the case of our staff, 73% are females and 27%
are males. Sixty-one percent of them are below 30
years old, 35% are between 30 to 50 years old, and
4% are over 50 years old.
Our turnover rates in 2014 indicate that out of
1,472 employees, 67% are female and 33% are
male. Seventy-one percent of them are below 30
years old, 19% are between 30 to 50 years old,
and 10% are older than 50 years old. Eighty-nine
percent are from Luzon, 5% are from Visayas and
6% from Mindanao.
On the other hand, 51% of our Senior
Management are male and 49% are female.
Among them, 65% are over 50 years old and 35%
are between 30 to 50 years old.
In 2014, employees in our Middle Management
consist of 66% females and 34% males. Thirty-two
Employee Turnover, by Gender
Diversity in the Senior Management Levels
G4-LA1
G4-LA12
2013
512
2014
Female
Male
Over 50 years old
30 to 50 years old
486
by gender
In 2014, collective bargaining agreements covered
95% percent or 8,516 staff level employees out
of a total 8,952. BPI recognized twenty-five (25)
labor unions during the reporting year. G4-11
by age group
88 92
63 117
2012
2013
Diversity in the Middle Management and Staff Levels
G4-LA12
Employee Turnover
by Age Group
G4-LA1
6,514
Employee Turnover
by Region
2013
2014
Over 50 years old
151
143
30 to 50 years old
315
278
Below 30 years old
849
1,051
G4-LA1
5,444
2013
2014
Mindanao
50
83
Visayas
60
80
Luzon
1,205
3,562
1,848
3,085
1,719
1,309
by age group
Middle Management
Over 50 years old
30 to 50 years old
606
by gender
94
3,116
2,438
392
by gender
Below 30 years old
by age group
Staff
95
Uplifting the Social and Economic Well-being of Filipinos
We envision a nation that is made up of self-reliant, financially healthy and empowered communities. The BPI
Foundation has several initiatives in place that directly engage and advance education, entrepreneurship and
environmental sustainability. These programs run parallel with the Bank’s products, services and innovations
resulting in financial wellness and economic empowerment synergies.
BPI BAYAN G4-SO1
One of our important programs is our unique employee volunteering platform, BPI BAYAN (Bayanihan
Para sa Inang Bayan). Our employees get to create and facilitate programs that address the needs of local
communities in all areas where we have existing branches.
How do we do this?
• Stakeholder and Needs Identification
Unlike most community organizing and
volunteering practices where employees are
encouraged to be participants of already
established projects, BPI BAYAN inspires
and activates employees to identify their
own beneficiaries with the most pressing
needs in their local community. These
needs are assessed and determined through
community consultations, site visits,
surveys, and interviews with key persons of
the locality.
•Implementation
Based on the results of the assessments and
consultations, employees conceptualize,
organize and deliver the project that
addresses the help or service that the
community needs. This way, we assure
that the projects carried out are relevant to
the communities where BPI employees live
and work.
• Funding
Even as the Bank owns the BPI BAYAN
program, each group of BPI volunteers
is tasked to design their own approach
towards funding their project. This
motivates employees to enhance their
management skills, resourcefulness, and
interpersonal relations to ensure the success
of the project.
96
BPI BAYAN’s Program Features
Management support is provided by
the area head through BPI BAYAN
group leader.
Volunteer managers are nurtured through
annual workshops or summits organized
by the Bank.
Recognition, in the form of annual
awards, trophies and cash prizes, is given
to best-performing and most relevant
community projects.
Campaign platforms such as the company
intranet and BPI BAYAN Facebook page
are used to promote its projects and
endeavors internally and externally.
Monitoring and evaluation is ensured
by the quarterly reports submitted by
various group leaders; these reports
are then consolidated and reviewed
by the BPI Foundation. The reports
contain comprehensive information on
needs identification, project objectives,
fund-raising, partner engagement and
management, project implementation
metrics, impact assessment, project
sustainability methods and features, as well
as testimonials from the stakeholders.
2014 Project Highlights
In 2014, 65% or 31 of our branch business areas
and 8 head office-based business units undertook
BPI BAYAN projects across five focus areas—
education, livelihood, health, financial wellness,
and the environment.
A total of 11,007 volunteer hours, or 459 days,
were rendered by 21% of all BPI employees.
BPI BAYAN 2014 SERVICE AREA HIGHLIGHTS
Pillar
Volunteer
Hours
Education
3,741
583 students and
beneficiaries of various
learning materials, tools,
scholarships, etc.
Livelihood
2,596
967 attendees of the
livelihood training
programs*
Health
1,847
166 beneficiaries
Financial
wellness
1,790
1,519 participants from lowincome families
Environment 1,034
Key Outcomes
868 members of local
communities
*Participants were mostly parents, women, housewives, visually
impaired persons, alternative learning system students, outsourced
security and maintenance personnel. Training programs conducted
include candle, rag, soap, and craft making, paper weaving, hair
cutting, hair coloring, snap hydroponics, reflexology, etc.
97
Feature
The Challenges
Generating the necessary funds to procure bamboo
fences and other materials for the nursery was the
group’s biggest challenge. By spreading the word
on the need for support and conducting several
fund-raising activities, the members were able to
secure the resources needed to deliver on their
commitment to the residents of Barangay Tuburan.
The Results
The group completed 2 mangrove planting
activities, set up 2 nurseries and conducted several
financial wellness seminars for the residents.
Oplan: Save Tuburan
Barangay Tuburan is a coastal community of 835
families in Negros Occidental that used to be
lushed with vegetation in the 90’s but has become
degraded due to human activity. The locals’ main
source of livelihood is fishing. Hence, protecting
the area’s coastal ecosystem is a major concern. The
Tuburan Fisherfolks and Mangrove Development
Association (TFAMDA) is an existing community
organization that aims to rehabilitate and protect
Tuburan’s mangrove ecosystem.
The Project
BPI BAYAN employee volunteers from the Negros
Occidental cluster wanted to provide a sustainable
program for the rehabilitation and maintenance of
the mangroves by establishing a mangrove nursery.
The group’s first step was to seek assistance from
the Provincial Agriculture Office in acquiring the
98
first batch of mangrove seedlings to be planted
along the shore. They gathered people from
various local organizations and other BPI
employees from branches and offices within
the area as manpower for the mangrove planting.
Bamboo fences were set up to protect the newlyplanted seedlings from barnacles.
In preparation for the next planting season, the
nursery was replenished with propagules taken
from grown up mangroves. The propagules
are cultivated in the nursery to ensure that the
seedlings are healthy and strong enough to
withstand erosion and are able to provide the
ideal environment for fish to breed before they are
planted along the shore. Working with TFAMDA,
the employee volunteers help oversee the newlyplanted seedlings and propagules in the nursery to
ensure high survival rate.
An Inspiration to Others
The success of the project has enticed many
organizations in the region to take part in the
planting activities–schools and universities, local
government units (LGUs), the Armed Forces of the
Philippines, and others. The local government has
constructed a concrete pathway which replaced the
makeshift bamboo bridge used to reach the project
site. Other barangays have also invited the group to
implement similar projects for their communities.
An agriculturist from Antique approached the
group and expressed his intention to adopt the
project in his community.
Recognitions
The project was featured in 2 local newspapers and
Barangay Tuburan was awarded as one of the most
environment-friendly barangays in the province of
Negros Occidental.
Impact on the Residents
Residents are very happy because of the ripple
effect brought by the project. With raised
consciousness, more and more people visit the
area. This gives them a greater opportunity to
sell their products and earn extra income. The
fisherfolk association has also become a well-known
mangrove supplier to government and private
organizations. The nursery has become a viable
source of additional income for the fishermen.
TESTIMONIALS
“We are grateful for BPI for this project that
was introduced to our barangay. Because of this,
more associations have been encouraged to do the
same–putting up nurseries and conducting treeplanting activities. This serves as a wake-up call for
the people in the community to develop awareness
on the importance of our natural resources. If an
organization like BPI can invest time in taking care
of the mangroves in our barangay, then our people
are expected to give 101% effort in taking care of
their environment. To date, the roads have been
repaired and this is protected by the mangroves
planted through the BPI BAYAN project which
line the coastal area of Barangay Tuburan. This
shields the area from strong waves and prevents soil
erosion. Thank you BPI BAYAN. Mabuhay kayo!”
barangay captain espacio
“At first, I considered the BPI BAYAN project as
just another task that I was assigned to lead. But as
we conducted the various activities, BPI BAYAN
has become an integral part of our existence in
BPI. I take pride in being involved in such a
marvelous endeavor. We are happy to reminisce
the things we have done and are extremely
enthusiastic about laying down our hopes and
aspirations for the project. It was a humbling
experience to be appreciated by the local residents
on how we were able to influence them to give
back to Mother Earth.”
sol evelet orciso, bpi volunteer
group leader
99
Let’s
use resources
efficiently
100
101
T
he Bank recognizes its role as a responsible financial institution both a resource
user and generator of waste. In our business operations, we reduce our negative
impacts to the environment through responsible environmental leadership across the
organization, making us more cost-effective and helping improve our margins.
We have put in place a system of tracking the environmental impacts of our places of
business. We also encourage our clients, suppliers and partners to reduce their own
environmental footprint.
Data on energy and water consumption of our branches and kiosks are consolidated
per business area. Those of our head offices are being monitored by our General and
Administrative Shared Services (GASS) unit. In addition, we continually explore
behavioral and technological interventions to reduce our resource consumption
such as the replacement of centralized air-conditioning systems with more energyefficient technology.
38%
decrease in fuel
consumption (gensets)
5%
decrease in electricity
consumption
33%
increase in number of
local suppliers engaged
103
Managing Our Supply Chain
Energy Consumption
G4-12, G4-EC9
G4-EN3, G4-EN4
GASS keeps a record and manages all the service
providers, contractors and suppliers the Bank
engages. We enforce strict and detailed supplier
accreditation processes to ensure that our
suppliers, service providers and business partners
comply with all legal standards. Our rigorous
processes help identify contractors that operate or
manufacture to recognized quality standards. We
seek to use suppliers who, like us, pursue continual
improvement and commit only to best practices.
Throughout the procurement process, we
implement various mechanisms including setting
up of accreditation committees, standards covering
accreditation criteria, better information on
requirements and documentation, various modes
of procurement, and service performance monitoring.
By following this procedure, the Bank and its
suppliers are made aware of ethical, environmental
and social risks and opportunities that relate to
operations and products. The same holds true in
the construction of new branches in all stages
of work.
The energy we consume comes in the form of
purchased electricity and fuel used in our backup
generators and armored vehicles. Occasionally, we
run our gen-sets to sustain full operating capacity,
test our disaster preparedness and carry out
preventive maintenance.
In 2014, individuals and entities making up BPI’s
pool of suppliers numbers 458, more by 38%
than the 333 engaged the previous year. Our
requirements for input materials and services are
all sourced locally.
In 2014, we reduced our total fuel consumption by
38% with most of the cuts achieved in the branches
and cash processing centers.
The Bank paid a total of ₧8.4 billion for the
products and services rendered by contractors,
suppliers and other providers. This is 12% more
than the amount paid in 2013.
Planning
and
Design
Sourcing
and
Supplier
Management
Construction,
Purchasing,
Implementation
Turnover
and
Acceptance
Repair
and
Maintenance
Fuel consumed by the armored vehicles of
our contractors is also monitored by the Bank
and computed as part of our GHG emissions.
The increase in cash requirements for overthe-counter and ATM transactions caused our
armored vehicle fuel consumption to rise by 11%
from 2013.
Total Energy Consumption
Fuel Consumed by Armoured Vehicles
in gigajoules, G4-EN4
Fuel Consumption
Electricity Consumption
29,886.30
8,572.80
6,986.61
2012
VALUE DELIVERY CHAIN FOR NEW BRANCHES AND ACCESS POINTS
Property
Assessment
Fuel Use of Transport
Armored Vehicles
26,836.89
4,374.79
25,715.23
2014
2012
2013
Fuel Consumption
8,378.96
2013
2014
Head Office and Main Offices
Business, cash and processing centers
Branches
Tenanted site
6,802.00
4,199.52
610.17
7,599.42
Managed suppliers
2014
2013
2012
594.85
458
5,800.97
333
399
2,168.14
1,460.85
2012
104
2013
2014
105
Saving on Electricity
In 2014, our total electricity
consumption decreased by 5%.
Lower consumption at our branches
and at the Head Office helped bring
down 93.2 gigajoules (GJ) in 2013 to
91.6 GJ in 2014.
60
Electricity Consumption
50
40
We also replaced centralized airconditioning systems in our head
and main offices, resulting to further
reduction in our electricity used.
2012
2013
2014
1.54
1.64
2.41
30
Tenanted site
43.66
40.03
36.39
20
Head office and main offices
50.63
49.78
44.84
10
Branches
98.00
93.17
91.63
2012
2013
2014
1,800
1,878
2,092
37,132
30,518
25,379
559
448
268
2012
2013
2014
*2014 data for tenanted site includes BPI Buendia Center only.
60
Reducing our
Carbon Footprint
50
GHG Emissions
40
in tonnes C02e, G4-EN15, G4-EN16, G4-EN27
G4-EN15, G4-EN16, G4-EN17
30
Our total carbon footprint in 2014
is significantly lower due to reduced
energy consumption—from 32,844
tCO2e in 2013, our greenhouse gas
(GHG) emissions went down by
16% to 27,738 tCO2e in 2014.
20
Our water consumption in 2014
dropped by 39% from 658,542 cu.
m in 2013, to 398,763 cu.m.
The reduction is contributed
mainly by water management
strategies in our branches.
106
Scope 1: Fuel consumed (gensets)
2012
300
G4-EN8
Scope 2: Electricity
10
400
Conserving Water
Scope 3: Fuel consumed by armored
vehicles
200
100
500
2013
2014
*2012 and 2013 data were restated to exclude CO2 emissions generated from business travels.
600
700
Water Consumption
800
900
in cubic meters, G4-EN8
2012
2013
2014
2,510
3,368
5,328
89,068
98,634
68,898
Head office and main offices
133,277
150,464
143,880
Branches
303,466
406,076
180,657
Tenanted site
107
Let’s
build trust
108
109
O
ur clients’ trust is a strong pillar of our Institution. We nurture that trust through
open communication by which we are able to address our client’s financial needs
to satisfaction.
In four client satisfaction metrics, our Bank has garnered ratings comparable with those
of the best companies in the world.
Best Payment
Product Award
Diamond Award
for Marketing
Best Retail Bank
Award
94.2%
overall Customer
Satisfaction Rating
111
Measuring Client Loyalty and Enthusiasm
The Net Promoter Score (NPS) is a measure of
the client’s willingness to recommend or promote
a company’s services to others. Our net promoter
score increased by 13% from +54.28 in 2013
to +61.23 in 2014. Only the top two of 283
companies across 20 industries in the United
States surveyed by the Tempkin Group in its Q3
2014 Consumer Benchmark Survey got an NPS
of over 60.
Sigma levels of our various transactional channels
are at par with levels recorded the previous year.
Our branches, online facilities, mobile banking
channels, and text (or call) centers continue to be
avenues where we deliver stellar performances.
Measuring Customer Satisfaction
Sigma levels by product line also remain at the
same levels with those posted the previous year.
Deposits, retail foreign exchange currency, funds,
and leasing had relatively high scores.
Measuring Service Standards
The Mystery Client Survey is another in-house
measurement tool designed to get customer
feedback on our service standards. Service time,
grooming and corporate image projection,
service readiness, and product/service inquiry
are scrutinized in this survey. In 2013, when
we conducted the most recent survey, we
scored 89.92%.
Measuring Feedback Objectively
We employ Sigma Level analyses for each of our
channels and product lines. Sigma level refers
to defects per million opportunities (DPMO).
Applied to customer service quality, Sigma levels
are based on the number of complaints received
from the total number of transactions, thus serving
as the voice of our clients.
Process Capability
Sigma Level
Sigma levels 4 to 6 are within the 99% percentile
range, signifying well-established efficiencies
within the organization. Overall, BPI’s
performance demonstrates sigma levels of 4 or
above. Our challenge now is to maintain or surpass
these levels of efficiencies.
BPI’s +61.23 NPS places the loyalty and
enthusiasm of the Bank’s clientele to our services at
par with the world’s best companies. This, by far,
is a most accurate indication that our clients are
happy with the way we manage their money.
Our in-house Customer Satisfaction Surveys
measure client satisfaction with the use of a
questionnaire. Questions are standardized
to ensure they capture product and overall
satisfaction with BPI. For 2014, our rating was
94.20% or 3 Sigma level (see Process Capability
Sigma Level Chart).
112
Sigma levels range from 1 (lowest) to 6 (highest).
High levels indicate good performance with
underlying causes of complaints either avoided
or mitigated.
Our Total Quality and Risk Management Offices
and Customer Care unit take care of tracking
and monitoring our performance in relation
to customer satisfaction. Our policies are fully
aligned with BSP’s “Service Code for Consumer
Banking in the Philippines” (issued 2005); in
addition, we are working towards full conformity
with the regulator’s Financial Consumer Protection
framework by yearend 2015.
Lifetime Marketing Brilliance
In 2014, BPI was bestowed the Diamond Award
by the Philippine Marketing Association (PMA),
for reaching the “pinnacle in marketing brilliance”
in establishing and growing the Bank’s business
in the country. The Diamond Award is a lifetime
recognition given by the PMA to companies that
have consistently exhibited marketing excellence.
The recognition is twice special—the PMA gave
out the one-time award in commemoration of its
60th anniversary last year.
BPI was one of only five companies who were able
to earn the said distinction.
Defects per Million
Opportunities (DPMO)
Long Term
Yield
2
308,537
69.15%
3
66,807
93.32%
4
6,210
99.38%
5
233
99.38%
6
3.4
99.99966%
Sigma Levels–Channels
2013
2014
6.0
5.0
4.0
3.0
2.0
1.0
ATM
Express
Phone
Mobile
Banking
Sigma Levels–Products
Express
Online
Express
Link
2013
Contact
Center
POS
BPI
Trade
Text
Center
Branches
2014
6.0
5.0
4.0
3.0
2.0
1.0
Credit
Card
Prepaid
Card
Debit
Card
Deposits
Remittance
Non Life
Insurance
Consumer
Loans
Personal
Loans
Stock
Transfer
Retail
FX
Currency
Asset
Mgmt
Funds
Leases
TURNAROUND TIME
Type of Complaint
TAT to Resolve
Source
Undispensed and short withdrawals
On Us
1 day
Local (Bancnet/Megalink)
6 days
International (MDS/VISA)
45 days
ATM Channel
Unauthorized withdrawals
2 days
Card Fraud
CAM complaints
1 day, if Line error and hardware error (up to
₧30K); 3 to 5 days (upon receipt of retrieval
report) Hardware error (₧30K and up)
ATM Channel
113
Continuing a Legacy of Leadership Excellence
G4-34
Since 1851, our commitment to clients, people, shareholders, and country remain unbroken. Our high and
uncompromising regard for values and ethics in our daily conduct of business make our name a trusted brand of
over 163 years.
BPI’s Board of Directors inspires us to operate
responsibly, conducting our affairs with
transparency and fairness while upholding
shareholder interests. We exercise prudence
following a robust risk management framework,
allowing us to deliver excellent governance
standards while sustainably promoting the business
and driving our performance.
The Board brings together, for the greater benefit
of the Bank and shareholders, a mix of leadership,
experience, skills, and diversity. It consists of
15 directors, seven of whom are classified as
independent or having no interest or relationship
with BPI at time of election, appointment, or reelection. Fourteen of these 15 directors are nonexecutive officers of the Bank and the one executive
director is the Bank’s President and CEO.
Our Board members are business and civic
professionals of significant stature with a track
record of accomplishment in their own right. They
deliver a broad range of experience and expertise
on subject matters relevant to the governance of
present-day universal banking institutions.
Our nine Board Committees provide structure
to the Board in the exercise of its duties and
responsibilities or specific focus consistent with
applicable laws. The Charter and membership
assignments are reviewed annually.
The Executive Committee exercises the full
authority of the Board in the management and
114
direction of the Bank’s affairs in the interval
periods between Board meetings. It is the key
decision-making committee of the Bank in matters
relating to governance including, but not limited
to, consequential, internal and external affairs as
well as the approval of the Bank’s material credit
exposures. All decisions remain subject to BPI ByLaws and the limitations prescribed by applicable
laws. The committee is composed of five directors,
one of whom is independent.
The Nomination Committee ensures the probity
and competence of the nominees to the Board
of Directors. It safeguards the balance of the
value additions each board member brings to the
Bank and his capacity for independent decisionmaking. This committee also oversees the review
of employee qualifications for nominated positions
requiring Board approval. It is composed of
at least three directors, one of whom must be
independent.
framework including financial reporting statutory
compliance. This committee is composed of at
least three non-executive directors, two of whom
are independent.
The Risk Management Committee works to
instill risk consciousness in the entire organization.
It provides the governing structure and framework
to identify and manage risks from Board to
business unit levels and gives recommendations
across the Bank through the Chief Risk Officer
and the Risk Management Office for relevant
business risk parameters, metrics and strategy. It
also oversees compliance with prescribed laws,
regulations and international standards on risk
management. Key risk management personnel are
given sufficient technological and training support.
The committee is composed of six directors, four
of whom are independent.
The Personnel & Compensation Committee
guarantees that the long-term strategies and plans
for human resource development are effectively
designed and implemented in support of
corporate goals and objectives. This committee is
composed of at least four directors, one of whom
is independent.
The Corporate Governance Committee assists
the Board in executing its corporate governance
responsibilities. It makes sure that the Board
remains true, effective, transparent, and
accountable to the governance principles and
guidelines expressed in the Corporate Governance
Manual. The committee is composed of at least
three directors, two of whom are independent,
including the chairperson.
The Audit Committee evaluates the effectiveness
of the Bank’s internal controls, operating risks,
range and results of internal audits reviews and
external audits. Its oversight covers the regulatory
The Trust Committee oversees the capable
management of the Bank’s innate business risks
including trust, other fiduciary business and all
investment activities.
The Related Party Transactions Committee
independently reviews, vets and may endorse all
related party transactions—transactions above and
beyond those qualifying under directors, officers,
stockholders and related interests (DOSRI)
restrictions—making sure that these transactions
are dealt with on terms no less favourable to
the Bank than those generally available to an
unaffiliated third party under the same or similar
circumstances. This Committee, along with the
Executive and Corporate Governance Committees,
abides with the Guidelines in Strengthening
Corporate Governance in BSP Supervised
Financial Institutions (BSP Circular 749).
The Retirement and Pension Committee governs
all aspects relating to the Bank’s retirement
programs—trust, investment, non-investment,
and administrative.
The President and CEO is responsible for overall
management and devises strategies for turning out
desired outcomes for the Bank.
More information on our Board of Directors and Principal Officers may be
viewed on our 2014 Annual Report.
115
JAIME AUGUSTO ZOBEL DE AYALA
CEZAR P. CONSING
EXECUTIVE COMMITTEE MEMBERS
NOMINATIONS COMMITTEE MEMBERS
Chairman
Vice chairman
Members
Chairman
Members
Fernando Zobel de Ayala
Cezar P. Consing, President and CEO
Rebecca G. Fernando
Aurelio R. Montinola III
Antonio Jose U. Periquet (Independent)
Mercedita S. Nolledo
CORPORATE GOVERNANCE COMMITTEE MEMBERS
Chairman
Members
Chairman
Members
PERSONNEL AND COMPENSATION COMMITTEE MEMBERS
AUDIT COMMITTEE MEMBERS
Chairman
Members
Chairman
Members
AURELIO MONTINOLA III
ASTRID S. TUMINEZ
REBECCA G. FERNANDO
ANTONIO JOSE U. PERIQUET
ROMEO L. BERNARDO
Xavier P. Loinaz (Independent)
Octavio V. Espiritu (Independent)
Oscar S. Reyes
Dolores B. Yuvienco
TRUST COMMITTEE MEMBERS
RELATED PARTY TRANSACTIONS COMMITTEE MEMBERS
Chairman
Vice Chairman
Members
Chairman
Members
Cezar P. Consing
Romeo L. Bernardo (Independent)
Rebecca G. Fernando
Maria Theresa M. Javier, Trust Officer
MERCEDITA S. NOLLEDO
Artemio V. Panganiban (Independent)
Oscar S. Reyes
Astrid S. Tuminez (Independent)
Dolores B. Yuvienco
OSCAR S. REYES Fernando Zobel de Ayala
Oscar S. Reyes
Vivian Que Azcona
OCTAVIO V. ESPIRITU
Xavier P. Loinaz (Independent)
Vivian Que Azcona
RISK MANAGEMENT COMMITTEE MEMBERS
Cezar P. Consing
Astrid S. Tuminez (Independent)
FERNANDO ZOBEL DE AYALA
Rebecca G. Fernando
Oscar S. Reyes
Rosemarie B. Cruz, Chief Audit Executive
(Non-voting)
Marita Socorro D. Gayares,
Chief Compliance Officer (Non-voting)
RETIREMENT AND PENSION COMMITTEE MEMBERS
Chairman
Vice Chairman
Members
116
Cezar P. Consing
Rebecca G. Fernando
Florendo G. Maranan, Head of
Human Resources Management
DOLORES B. YUVIENCO
XAVIER P. LOINAZ
VIVIAN QUE AZCONA
ARTEMIO V. PANGANIBAN
Board Committees
117
Managing Risks
G4-2, G4-14, G4-45, G4-46, G4-47
Currently, five Principal Officers report to the President and CEO on matters relating to specific areas
of business. They ensure the development and expansion of the Bank’s client relationships, service
quality and innovation in products and services, management of the Bank’s trading business including
enterprise asset-liability management, reliability, productivity, and cost-efficiency in the Bank’s operating
infrastructure. These Principal Officers are:
Joseph A. Gotuaco, Executive Vice President and Head of Enterprise Services;
Dennis G. Montecillo, Executive Vice President and Head of Corporate Clients;
Antonio V. Paner, Executive Vice President, Treasurer and Head of Global Markets;
Simon R. Paterno, Executive Vice President and Head of Financial Products and Services; and
Natividad N. Alejo, President of BPI Family Savings Bank (effective 2015)
Our Planning and Performance Management System articulates our strategy from planning to execution.
It uses quantifiable metrics to gauge accountability, performance, expenditure, and risk.
More details on our Corporate Governance and Risk Management, including relevant policies affecting integrity and fair dealing are discussed in our
2014 Annual Report.
G4-34
BOARD OF DIRECTORS
CORPORATE
SECRETARY
RELATED PARTY
TRANSACTION
TRUST
RISK MANAGEMENT
AUDIT COMMITTEE
EXECUTIVE COMMITTEE
OTHER COMMITTEES*
PRESIDENT
ASSET MANAGEMENT
AND TRUST
COMPLIANCE
SECURITY OFFICE
RISK MANAGEMENT
INTERNAL AUDIT
ACCOUNTING
CENTRALIZED
CREDIT
FINANCIAL PRODUCTS
CLIENT SEGMENTS
RETAIL
GLOBAL MARKETS
AND SERVICES
ENTERPRISE SERVICES
CORPORATE
Deposits
Treasury trading
Human resources
Centralized operations
Customer segments
Top corporates
and FLs
PEZA and Asian MNCs
Remittance and
payments
Balance sheet
and ALM
Strategic and
corporate planning
Shared administrative
services
Branches
Metro Manila
Provincial
Corporate products
Global market sales
Legal services
BPI Foundation
and Sustainability
Field sales
Large-medium
enterprises
Filipino-Chinese
Bancassurance
International offices
Information
technology
Customer relationship
management
Electronic channels
BPI Family Savings
Bank
BPI Capital
Corporation
Board Committees
Other committees are Personnel and Compensation, Retirement
and Pension, Nominations, and Corporate Governance.
118
BPI/MS Insurance,
Ayala Plans
BPI Forex
Corporation
We take strategic steps to guard against various risks encountered in the normal course of operations and in
making business decisions. Aware that this is critical to delivering sustainable value for stakeholders and
fulfilling our commitment to all shareholders, we identify all relevant risks, conduct process and system risk
assessments and measure (or monitor) via key risk indicators against established risk limits to ensure acceptable returns.
Our BPI Group Risk and Capital Management
Framework details the process of identifying
risks for the Bank and all its subsidiaries. This
is further supported by the Group’s robust risk
and capital review processes, as embedded in the
Internal Capital Adequacy Assessment Process
(ICAAP). The ICAAP is annually updated in
accordance with the existing BSP regulations.
The risk management framework consists of three
components, namely: (1) sound governance; (2)
effective ERM processes and controls; and (3)
business-enabling, timely and reliable risk data and
information systems.
Risk awareness is embedded in our corporate
culture. Every employee is educated and trained
to be responsible for risks and controls in his
area of authority. The Bank follows a strict code
of transparency in reporting to our respective
committees up to the Board level, confident
that every effort is being done to address issues.
Transparency is combined with integrity where all
reports and key risk indicators are handled with
accuracy and honesty. We make a thorough review
of empirical data and systems and other internal
process improvements when necessary to enhance
our effectiveness.
Building Lines of Defense
We have identified the Bank’s three main risks to
be credit risk, market risk, and operational and IT
risk. Accordingly, we apply three lines of defense in
enterprise risk management and internal controls,
as follows:
First Line of Defense: Risk Owners (includes
all business unit-level functions) manage risks by
identifying, assessing and treating risks. Processes,
procedures, controls instituted and the monitoring
thereof ensure effectiveness at the business unit levels.
Second Line of Defense: Oversight is undertaken
by Group risk management functions in support
of the First Line of Defense. They are guided by
the Bank’s enterprise risk management framework,
which may be adjusted to adopt to business goals
or some internal or external factors. Employees
actively engage in risk management processes and
training initiatives.
Third Line of Defense: Independent Assurance
• The Board Audit Committee, through Internal Audit as defined in the Corporate Governance Manual and Audit Committee
Charter;
• Internal Audit conducts regular independent
risk assessments of risk management controls
in place, specifically, timeliness, efficiency
and effectiveness, as those of periodic
reporting. Risk management processes
and controls are reviewed periodically and
recommendations for enhancements are made
when deemed necessary.
• External Audit makes regular periodic
independent assessments of financial controls
and processes in conjunction with the
preparation of the Bank’s Financial
Statements.
119
The Board and Executive Management likewise
monitor the various risks the Bank is exposed to
through the regular reports and briefings from
the Business Units, Risk Management Office,
Compliance, and Internal Audit functions and
external audit.
We also have Business Risk Officers who are
accountable for managing and coordinating all
matters of risk specifically operational and IT.
BROs cascade and see to the effective application/
adoption of the Bank’s Risk Management
Programs. He is the central contact for all riskrelated concerns for his business area.
Ensuring Uninterrupted Service
Our Group of Companies relies heavily on
information systems in its day-to-day operations.
Any perceived disruption to the delivery of
products or services, however minimal, may affect
overall client satisfaction. The Bank therefore
depends on its established Business Continuity
Management (BCM) processes to resolve problems
and address products and services concerns. This
may include operational processes or resourcesrelated issues.
Our Business Continuity Management unit
manages the Bank’s BCM Program. As part of
the Risk Management Office, they identify and
monitor against possible significant threats to
business continuity. A strong and competent
BCM unit is critical to our overall enterprise risk
management approach. Effective BCM processes
ensure compliance to information security and risk
management objectives of availability, reliability
and the soonest recovery in cases of internal or
external events.
Our Business Continuity Plan (BCP) contains
the necessary information for the proper
120
implementation and documentation of BCM,
consisting of the following:
• Normal Operating Procedures cover
preventive or pro-active prevention of
disruptions
• Manual Recovery Procedures define
steps to enable normal operations after an
interruption, with acceptable process
recovery and turnaround time
• The Procedure for Resolution and
Escalation contains guidelines on when
to escalate or cascade necessary information to whom and how to do so
• Communications Procedures safeguard
timely, effective dissemination of accurate
and reliable information to affected
parties/stakeholders
• System Recovery Procedure are steps to
correct processing errors to resume normal
operations of automated processes within a
prescribed turnaround time
• System Recovery Test Procedure are
guidelines for testing documented recovery
procedures, helping ensure proper
execution should the need arise.
BCP manuals are subject to regular reviews and are
updated as needed for relevance and benchmarking
to best practices.
Strengthening Our Compliance Practices
Audit Committee. We maintain compliance
with the BSP, SEC, Philippine Deposit Insurance
Corporation (PDIC) and other regulating bodies
relevant to the business. The Compliance Office is
thus tasked to oversee the Bank’s implementation
of enterprise-wide compliance programs and
stakeholder-related compliance issues such
as money laundering and Terrorist Financing
Prevention Program. The compliance officer is
ably complemented by a competent Legal
Services Division.
Fourteen (14) Group Compliance Coordinating
Officers (GCCOs), assigned in various business
and operational units, lend support to the
Compliance Office.
The Bank utilizes a three-layered compliance testing
and monitoring process: Business units self-regulate
on compliance with the corporate governance
manual, policies and code of business conduct and
ethics. The Compliance Office and Internal Audit
give independent reviews that are elevated to the
board level Corporate Governance Committee.
Employees have a compliance database, ensuring
access to electronically posted information by
the Compliance Office. Meetings are regularly
conducted with GCCOs on the status and needs
on compliance. Regular dialogues with regulators
ensure they are updated on new regulatory
developments that may affect bank operations.
Regulatory and legal compliance is intrinsic to
companies that operate with high ethical standards
and integrity, strong compliance management
programs and policies and an excellent
management team and human resources.
Our Compliance Office is charged with nurturing
the Bank’s culture of integrity, ethical business
practice, fair dealing and effective compliance
management. It is directly accountable to the
121
Category and Aspect
Name of Policy/Reference
Description
Performance
G4-HR3, HR4, HR5, HR6,
SO5, SO8, PR7, PR8
Feature
HUMAN RIGHTS
Non-discrimination/
Workplace discrimination
Part of Employee
Handbook/CBA
The Bank does not
discriminate on
gender, religion, race,
color, political stand, or
social background.
There was no reported
incident of discrimination
in 2014.
Freedom of Association and
Collective Bargaining
Company Union
The Bank recognizes
the existence of Company
Union(s).
No aspect of our
operations prohibits
this freedom.
Child Labor
Employs only persons
of legal age
The Bank strictly
enforces non-employment
of minors.
No aspect of our
operations has been
identified as having
significant risk for child
labor.
Forced or Compulsory Labor
Agreement/HR Policies
The Bank is against
forced/compulsory labor.
There were no incidents of
compulsory labor reported
in 2014.
Agreement/HR Policies
The Bank utilizes Unibank
Investigation Unit to
investigate employee
fraud and corruption.
There was no reported
incidents of accounting
fraud and/or corruption
in 2014.
SOCIETY
Accounting fraud and
corruption
International Declarations
National, regional and local
laws and regulations
The Bank complies with all
laws and regulations as a
matter of policy, business
philosophy and CREDO.
Our compliance extends to
treaties and international
agreements.
The Bank is conformant
with all applicable
regulations at the local,
regional and national
levels.
Bank Policies/Legal
Memoranda/Legal
Advisory Bulletins
Bank adheres with privacy
laws, copyright laws, code
of conduct of advertising
There was no incidents of
non-compliance related to
this aspect in 2014.
Bank Policies/Legal
Memoranda/Legal
Advisory Bulletins
The Bank strictly
implements Bank Secrecy
laws, Data Privacy Act and
other Consumer Protection
laws and regulations.
It has sent officers to
in-house and external
Financial Consumer
Protection
No complaints regarding
breaches of customer
privacy and/or losses
of customer data were
recorded in 2014.
Abides with Philippine and
international laws
PRODUCT RESPONSIBILITY
Marketing Communications
Customer Privacy
122
Winning the “House of the Year” Award
Overhauling its risk management structures has
paid off big time for the Bank of the Philippine
Islands (BPI)—it recently gained the Asia
Risk Awards 2014 “House of the Year” for
the Philippines, the first-ever bestowed on a
Philippine bank.
This year, BPI joins an esteemed roster of global
banks and financial institutions such as Hong
Kong and Shanghai Banking Corporation
(HSBC, Hong Kong), Development Bank of
Singapore (DBS, Singapore) and Commerce
International Merchant Bankers (CIMB,
Malaysia) in receiving their respective “House of
the Year” awards from Asia Risk.
The award was conferred by Risk.net which is
owned by Incisive Media, a global business media
company and one of the world’s leading businessto-business information providers. It was the first
time in 19 years of giving out awards that the
media firm gave a “House of the Year” citation for
the Philippines.
The Bank spent a year overhauling its risk
management structures partially in response to
the country’s new capital adequacy framework
introduced by the Bangko Sentral ng Pilipinas
at the start of the year. BPI has shifted much
more from a risk control approach to one of
true risk management.
BPI’s proactive approach in enterprise and
financial risk management, which entails a
strong top-down risk management culture,
competent risk management leaders, well-defined
risk appetite and metrics, and robust models
and systems are the key elements to the Bank’s
capability to face both global and local market
challenges and its thrust to be at the forefront
of ethical, prudent and proactive enterprise risk
management best practices in the country.
In October 2014, BPI Chief Risk Officer and Senior Vice President
Edgardo O. Madrilejo received the award in behalf of the Bank.
The awarding ceremony was held during the gala dinner of the
Asia Risk Congress at the Four Seasons Hotel, Hong Kong.
BPI’s Basel III capital adequacy ratio currently
stands at above 15 percent.
“The risk management process
should be about handling risk so
that the company can grow and be
profitable; at the same time
being transparent with the Board
so that everyone understands the
profile of the company. I am very
comfortable with where we are
now.”
edgardo o. madrilejo
Chief Risk Officer
123
Yolanda
INSURANCE CLAIMS
Typhoon Yolanda
A Story Revisited
Quick Facts
•
•
•
•
•
•
•
•
Yolanda made landfall on 8 November 2013
16 million lives were affected
Total deaths: 6,300
Injuries: 28,626
Gone missing: 1,785
Displacement: 4.1 million people
More than 1.1 million houses damaged,
490,000 of which were totally destroyed and
swept away
In the worst affected areas of Leyte and Samar
90% of houses were completely gone and 48% of primary livelihoods lost
Sources: USAID Typhoon Haiyan/Yolanda Fact Sheet #22 released 14 April
2014 and/or NDRRMC Update on Effects of Typhoon Yolanda (Haiyan)
issued on 17 April 2014
124
A Quick Glance at Yolanda Numbers
for BPI
•
•
•
•
•
•
Affected branches – 5 including BPI-Philam
(BPLAC) and BPI Globe BanKO
The Bank suffered zero injuries and casualties
All local employees were accounted for
by the 9th day including outsourced
services employees
Employee count: 53 employees including
BPLAC and BPI Globe BanKO
Bank reopening – 12 November Ormoc,
Baybay; 22 November Tacloban Main Branch
Actual bank losses to date ₧11.5 million:
₧7.8M in cost of branch repairs, ₧2.9 million
on cost of mutilated/damaged bills and ₧0.8 million in spending for relief goods and travel
expenses of employees and their families
during relief operations
Claims Filed
Settled and Billed
08 November 2013
Number | Amount
Number | Amount | %
Motor
429 | 104,059,936.16
405 | 101,365,866.21 | 94.4%
Non-motor
314 | 849,730,000.00
120 | 536,390,000.00 | 38.2%
743
525 |
| 70.7%
Community Initiatives
• BPI Foundation partnered with The Foundation
for These Abled Persons Inc. (FTI) for the
development of a livelihood recovery program for
people with disabilities and other marginalized
community members. The program is also
meant to contribute to the rehabilitation and
reconstruction of devastated communities in
Leyte through sustainable enterprises.
• The Foundation’s Bancas for the Philippines
program promotes fiberglass technology in
building fishing boats to help fishermen earn
decent incomes again, especially those struck
hard by Typhoon Yolanda and other disasters.
Each banca is 15 feet long and weighs only 30
kg. Its expected lifespan of 20 years, twice of that
of traditional wooden boats. In June 2014, BPI
Foundation and WWF-Philippines turned over
50 fiberglass boats to Leyte fishermen and another
50 to Iloilo fisherfolk.
• Unibankers joined the Ayala Group’s
One Big Ayala Volunteer Night in
helping pack relief goods in various relief
centers of the Department of Social Welfare
and Development.
• In just 17 days, the “10M + 10M” fund
raising campaign of the Bank raised
over ₧11 million for the victims of super
typhoon Yolanda. Matched peso for peso by
BPI, this resulted in a total donation
of more than ₧22 million.
• Donations made by the public through the
BPI Foundation amounted to ₧10 million,
which were then used to fund disaster
recovery efforts and construct 2-storey,
4-classroom school buildings in the
devastated areas.
125
Our Yolanda Story
Below is an account of the Bank’s experience with the super-typhoon Yolanda, a result of a composite of answers
given in a group interview in relation to the Bank’s Business Continuity Management as it was then applied.
Lesson 1: A Solid Business Continuity
Management Plan is Key
Our 2013 Integrated Annual and Sustainability Report contained some of our actions to address the devastation
Yolanda has wrought and how the Bank, as one family, helped communities. As we look anew at lessons learned
from Yolanda, we encounter anew the human side of the story – a story of a Bank and its people.
Looking back, our BCM gave us the necessary
controls we needed for an effective retrieval and
relief operations throughout the Yolanda experience.
A definite and effective working structure was in
place. It enabled us to systematically account for our
people and allowed us to organize and mobilize daily.
All of our activities, even minor ones, were reported
without impediment to discretion for management
decisions and actions taken.
The day typhoon Yolanda came began just like any
ordinary day in anticipation of a long weekend.
Everyone had taken heed of weather bulletins
broadcasted two weeks prior about the incoming
storm. Most had stocked up on food at home and
taken other precautions in case the weather turned
bad enough that they had to stay in. Everyone
thought they had undergone enough preparations.
Then the typhoon came with unexpected storm
surges. Everything changed within 20 minutes.
Along with the massive destruction, chaos reigned.
While Business Continuity was not applicable
in the immediate aftermath of the storm, BPI’s
response had still been swift and decisive. The
directives were simple and came from the very top:
account for and extricate our people; ensure they
have access to food, water, medicine, and sanitation;
secure all the money that the Bank is entrusted
with.
Major Erwin L. Rosete was our designated man
on the ground for retrieval operations. He was
there on Day 3 and the Philippine Army came
the following day. Other staff were able to join
Maj. Rosete by the Day 5. Rescue efforts were
not confined to BPI-Ayala employees. It was a
definite challenge to find our people and get them
and their extended families evacuated to Cebu. A
Manila-based employee had a family in Tacloban,
who were also given assistance. While people were
126
cooperative, there were also security concerns to
address, such as desperate attempts to open ATMs.
Resources were extremely scarce. Everyone was a
target for opportunists.
Among our people, check-ups on one another were
being done over that weekend to ensure everyone
was safe and accounted for. These were things our
employees never signed up for but done nonetheless
and voluntarily out of utmost compassion for our
people, compassion for the Bank.
Resuming Service Immediately
BPI’s guiding principle of service was at work in
the hardest of times. Even on the exact day that
Yolanda hit, a Tacloban branch closed at 6pm to
ensure the ATMs were loaded for the long weekend.
Our mandate at the Bank includes servicing the
community immediately after a calamity. In the
chaos that ensued after the storm surges, our people
made an effort to secure all the money in our 9
ATMS and in the cash vaults in Tacloban. After the
typhoon onslaught and as soon as the signal was
up, the ATM at our Romualdez branch was back in
operation.
To ensure fair opportunity for all our local clients
to access funds, we lowered the limit on cash
withdrawals. Efforts were made to service clients’
needs even for those whose identity cards were
washed away or whose signature cards were damaged.
Lesson 2: Keeping Physical Infrastructure
Resilient
Taking off from our experiences with Typhoon
Yolanda, we have fortified the branches which were
deemed to be at high risk. We invested in generator
sets and placed them on higher floors. For each of
our branch areas, the designated evacuation site is
exact with clearly identified central points for relief
and recovery operations. We also have the necessary
supplies in place in case of calamity.
While Yolanda was unique, with something of
similar magnitude, the first thing necessary is to let
our employees know where to bunker in and provide
them enough food to last a certain number of days.
Disruption in communications is assumed, so we
keep an employees’ contact database, updating it
regularly at both the BPI Group and Ayala Group
levels. Our people are now aware of alternative
means of communication when cellular signals fail.
The importance of adequate preparation can never
be over-emphasized.
Lesson 3: Going Beyond Their Duties
Yolanda validated our belief and reality–the main
strength of our Institution is our people. We
witnessed then how our employees needed no
further directives and what needed doing was
voluntarily done. They naturally acted to protect
the Bank and what it stands for. The fact that they
went beyond normal procedures is significant.
Their natural compassion for the Bank and of each
other contributed greatly to the immediacy and
effectiveness of our BCM.
Included but not limited to our employee
engagement are accounting for our people and
assets; fundraising of money and other necessities for
affected employees and communities; volunteering
in relief and recovery efforts both in the affected
areas and remotely (e.g. donations packing);
and taking part in post Yolanda recovery and
rehabilitation initiatives.
Lesson 4: Maintaining Strong Leadership
and Compassion
Under normal operations, each BPI employee is
aware of how rigorous our policies and procedures
are in running the Bank. Adherence to a budget
is always a must. However, during the Yolanda
calamity, we saw the funding, the instructions and
the hands-on approach—all cascading instantly
from our top management. Their instructions
were very clear and direct to make certain that our
people were taken care of. Our Crisis Management
Team convened and monitored even as the events
unfolded. We felt the urgency of the imperatives of
relief, mobilization and action.
The Bank’s goals went beyond rescue—it was to
locate, retrieve and send our people back. After
everyone was accounted for, recovery became the
priority. There are guidelines within our bank policy
for assisting staff who are victims of disasters. The
unique Yolanda situation called for an extraordinary
response level and this was delivered. The
Management authorized cash releases as immediate
employee aid for those severely affected. Interest-free
housing loans for affected employees were
likewise approved.
127
Appendices
128
129
Appendix A: Material Aspects and Indicators
Appendix B: Membership in Industry Associations
G4-19, G4-20, G4-21
G4-16
Category/
Subcategory
Product
Responsibility
Financial Services
Sector Disclosures
Labor Practices and
Decent Work
Human Rights
Economic
“We believe our first
responsibility is to our
Clients. If we understand
and address our clients’
financial needs, we will
be trusted with their
most important financial
transactions, and we will
build lasting relationships.
We do well when our
clients do well.”
“We believe in our
responsibility to our
People. We seek to hire
the best people for each
job, provide them with
the means to perform at
a high level and reward
them fairly. We value
integrity, professionalism
and loyalty. We promote a
culture of mutual respect,
meritocracy, performance
and teamwork. We strive
to be the employer of
choice among Philippine
financial institutions.”
Shareholders. We treat
capital as a most valuable
asset, and seek to
generate superior returns
while being prudent in
risk-taking, spending and
investment.”
Society
Country. Our prosperity
is greatly dependent on
the well-being of our
nation. We aim to be
inclusive and responsible
in nation building. Through
BPI Foundation, we are
committed to the welfare
and sustainability of the
communities we serve.”
Environment
130
Why this is material
“We contribute to
nation building through
investment and/or
funding businesses that
have direct impact to the
environment. We expect
our clients to value and
respect the environment
as we do. Further, in our
day-to-day operations,
we track and implement
measures to become more
eco-efficient.”
Material Aspect
GRI
Indicator
Description
Aspect
Boundary
Product and Service
Labeling
G4-PR5
Customer satisfaction survey results
Internal
Marketing
Communications
G4-PR7
Non-compliance with marketing regulations
Internal
Customer Privacy
G4-PR8
Complaints on customer privacy violation and data losses
Internal
Product Portfolio
FS6
Percentage of the portfolio for business lines by specific
region, size and by sector
Internal
FS7
Monetary value of products and services designed to
deliver a specific social benefit for each business line
broken down by purpose
Internal
FS8
Monetary value of products and services designed to
deliver a specific environmental benefit for each business
line broken down by purpose
Internal
Employment
G4-LA1
Employee hires and turnover
Internal
Training and Education
G4-LA9
Training hours for employees by gender and employee
category
Internal
Non-discrimination
G4-HR3
Discrimination incidents and actions taken
Internal
Freedom of Association
and Collective
Bargaining
G4-HR4
Violation of freedom of association/collective bargaining
and actions taken
Internal
Child Labor
G4-HR5
Risk and incidents of child labor in operations, suppliers,
and measures taken
Internal
Forced or Compulsory
Labor
G4-HR6
Risk and incidents of forced or compulsory labor in
operations, suppliers, and measures taken
Internal
G4-EC1
Economic value generated and distributed
Indirect Economic
Impacts
G4-EC8
Indirect economic impacts
Internal and
external
(customers)
Procurement Practices
G4-EC9
Spending on local suppliers
Internal and
external (suppliers)
Local Communities
G4-SO1
Local communities
Anti-corruption
G4-SO5
Confirmed incidents of corruption and actions taken
Internal
Compliance
G4-SO8
Cost of fines and number of sanctions for breaching laws
and regulations
Internal
Energy
Water
Emissions
Products and Services
Business Unit Responsible
Industry Associations
Bank of the Philippine Islands
ACI Philippines
Association of Bank Compliance Officers
Association of Certified Fraud Examiners
Bankers’ Association of the Philippines
Banker’s Institute of the Philippines
Chamber of Thrift Banks
Credit Card Association of the Philippines
Credit Management Association of the Philippines
Philippine Business for the Environment
Rural Bankers’ Association of the Philippines
Corporate Planning
Makati Business Club
Management Association of the Philippines
Money Market Association of the Philippines
Various business clubs in areas
Deposits
Bank Marketing Association of the Philippines
Remittance
Association of Bank Remittance Officers Inc.
Asset Management and Trust
Fund Managers Association of the Philippines
Trust Officers Association of the Philippines
BPI/MS Insurance Corporation
Insurance Institute of Asia and the Pacific
Junior Insurance Executives Circle
Marine Tuesday Club
Marine Underwriters Association of the Philippines
Philippine Association of Surety Underwriters, Inc.
Philippine Insurers Club
Philippine Insurers and Reinsurers Association
Reinsurers Club of the Philippines
Society of Underwriters
BPI Capital Corporation
Financial Executives of the Philippines
Investment House Association of the Philippines
Foundation
Association of Foundations
Corporate Network for Disaster Response
League of Corporate Foundations
Philippine Council for NGO Certification
Internal and
external (suppliers,
government, and
local communities)
Internal and
external
(beneficiaries of
CSR programs)
G4-EN3
Energy consumption within the organization
Internal
G4-EN4
Energy consumption outside the organization
Internal and
G4-EN8
Water withdrawal by source
Internal
G4-EN15
Direct GHG emissions
Internal
G4-EN16
Indirect GHG emissions
Internal
G4-EN17
Other Indirect GHG emissions
Internal and
G4-EN27
Environmental impact mitigation for products and services
Internal and external (customers)
131
GRI Content Index
GRI Content Index
GENERAL STANDARD DISCLOSURES
Section or sub-section, Page/s
SPECIFIC STANDARD DISCLOSURES
Material Aspects
External Assurance
DMA and Indicators - Page (s)
Reason for Omission
External Assurance
ECONOMIC
STRATEGY AND ANALYSIS
G4-1
Message from the Chairman and the President and CEO, 6-9
Yes, 134-135
G4-2
Sustainability Strategy Framework, 12
Yes, 134-135
Managing Risks, 119
ORGANIZATIONAL PROFILE
• G4-DMA – 16
• G4-EC1 – 16-17
Not applicable
Yes, 134-135
Indirect Economic Impacts
• G4-DMA – 25, 39, 51, 73
• G4-EC8 – 23-81
Not applicable
Yes, 134-135
Procurement Practices
• G4-DMA – 102
• G4-EC9 – 102
Not applicable
Yes, 134-135
G4-3
Inside front cover
Yes, 134-135
G4-4, G4-5, G4-6
Our Business, 15
Yes, 134-135
ENVIRONMENT
G4-7
BPI is a publicly listed company governed by a Board of Directors. Details of our ownership structure can be found in
page 4 of our 2014 Annual Report.
Yes, 134-135
Energy
• G4-DMA – 103
• G4-EN3 – 105-107
• G4-EN4 – 105
Not applicable
Yes, 134-135
G4-8, G4-9
Our Business, 15
Yes, 134-135
Water
Yes, 134-135
Employee Statistics, 92-93
Yes, 134-135
• G4-DMA –103
• G4-EN8 – 106-107
Not applicable
G4-10
G4-11
Employee Statistics, 94
Yes, 134-135
Emissions
Yes, 134-135
Supply Chain Management, 104
Yes, 134-135
G4-13
There have been no significant changes in the Bank’s size, structure, ownership, or its supply chain.
Yes, 134-135
• G4-DMA – 103
• G4-EN15 – 106-107
• G4-EN16 – 106-107
• G4-EN17 – 106-107
Not applicable
G4-12
G4-14
Managing Risks, 119
Yes, 134-135
Products and Services
• G4-DMA – 62, 103
• G4-EN27 – 62-69
Not applicable
Yes, 134-135
G4-15
Currently, BPI has no record of external charters, principles, or initiatives that it subscribes to or which it supports.
Yes, 134-135
G4-16
Membership in Industry Associations, 131
Yes, 134-135
SOCIAL: LABOR PRACTICES AND DECENT WORK
Employment
• G4-DMA – 85-86
• G4-LA1 – 93-95
Not applicable
Yes, 134-135
Training and Education
• G4-DMA – 88
• G4-LA9 – 88-89
Not applicable
Yes, 134-135
IDENTIFIED MATERIAL ASPECTS AND BOUNDARIES
G4-17
The information and indicators reported are related to BPI and its business units.
Yes, 134-135
G4-18
Yes, 134-135
Defining What’s Material to Us, 18
G4-19
Yes, 134-135
Appendix A, 130
G4-20
SOCIAL: HUMAN RIGHTS
Non-discrimination
• G4-DMA – 120-121
• G4-HR3 – 122
Not applicable
Yes, 134-135
Freedom of Association and
• G4-DMA – 120-121
• G4-HR4 – 122
Not applicable
Yes, 134-135
Child Labor
• G4-DMA – 120-121
• G4-HR5 – 122
Not applicable
Yes, 134-135
Forced or Compulsory Labor
• G4-DMA – 120-121
• G4-HR6 – 122
Not applicable
Yes, 134-135
Yes, 134-135
Appendix A, 130
Yes, 134-135
Yes, 134-135
Appendix A, 130
Yes, 134-135
G4-22
Previous years' economic figures as well as energy consumption at BPI Head Office were updated.
Yes, 134-135
SOCIAL: SOCIETY
G4-23
There were no significant changes.
Yes, 134-135
Local Communities
• G4-DMA – 96
• G4-SO1 – 96-97
Not applicable
Yes, 134-135
G4-24
Stakeholder Engagement, 20-21
Yes, 134-135
Anti-Corruption
• G4-DMA – 120-121
• G4-SO5 – 122
Not applicable
Yes, 134-135
G4-25
Stakeholder Engagement, 20
Yes, 134-135
Compliance
Yes, 134-135
Yes, 134-135
• G4-DMA – 120-121
• G4-SO8 – 122
Not applicable
G4-26
G4-27
Yes, 134-135
Product and Service Labeling
• G4-DMA – 111-112
• G4-PR5 – 112-113
Not applicable
Yes, 134-135
Marketing Communication
• G4-DMA – 120-121
• G4-PR7 – 122
Not applicable
Yes, 134-135
Customer Privacy
• G4-DMA – 120-121
• G4-PR8 – 122
Not applicable
Yes, 134-135
G4-21
STAKEHOLDER ENGAGEMENT
REPORT PROFILE
G4-28, G4-29, G4-30
Scope and Coverage, 10
Yes, 134-135
G4-31
Contact Information, 11
Yes, 134-135
G4-32
Reporting Standards, 11
Yes, 134-135
G4-33
Assurance, 10
Yes, 134-135
G4-34
Continuing a Legacy of Leadership Excellence, 114, 118
Yes, 134-135
G4-45, G4-46, G4-47
Managing Risks, 119
Yes, 134-135
G4-48
Ms. Fidelina A. Corcuera
Senior Vice President & Head - BPI Sustainability Office
Executive Director, BPI Foundation
Yes, 134-135
G4-56
The BPI Credo, 2-3
Yes, 134-135
G4-57
Details of our existing mechanisms for seeking advice on ethical and lawful behavior and matters related to
organizational integrity may be viewed on pages 58 to 59 of our 2014 Annual Report.
Yes, 134-135
SOCIAL: PRODUCT RESPONSIBILITY
GOVERNANCE
SECTOR DISCLOSURES
FINANCIAL SERVICES
Product Portfolio
• G4-DMA – 51-53
• FS6 – 52-53
• FS7 – 40, 42-43
• FS8 – 62-69
Yes, 134-135
ETHICS AND INTEGRITY
132
133
Independent Assurance Statement
134
135
Acknowledgement
Vladimir S. Adriano
Jerwin A. Agarao
Ramon Noel S. Altamirano
Jeffrey S. Amoroso
Maria Ramona O. Ang
Ma. Gracia S. Aranda
Gina O. Astilla
Winston C. Austria
Luningning L. Avendano
Brian T. Badilla
Eugenia D. Baguioro
Athena G. Balleza
Allely M. Barbo
Donna Michelle T. Barroga
Ma. Teresa Lea L. Calalang
Maria Ilizza M. Canlas
Eileen May G. Cariaga
James Christler B. Cariaga
Reginaldo Anthony B. Cariaso
Fitzgerald S. Chee
Ma. Carmela D. Concepcion
Mary Anne S. Concepcion
Ma. Perpetua A. Cutiongco
Rachelle Marie G. Dangin
Katrina Blanca B. De Castro
Dennis A. delos Reyes
Jose Augurio N. De Vera, Jr.
Leah B. del Castillo
Perry Alfonso Froilan E. Dacumos
Anna Christina U. del Fierro
Jo Ann B. Eala
Ritchie G. Fariñas
All BPI and BFSB branch officers
All Business Center, Cash Center,
Processing Center, and Provincial
Office Heads
136
Josephine F. Fernandez
Diane Faith S. Figueroa
Agatha Joy A. Flores
Daniel Jerome P. Frago
Marita Socorro D. Gayares
Raymond H. Go
Anna Christina P. Gomez
Katrina Marie Vc. Gonzales
Joseph Albert L. Gotuaco
Marie Eileen M. Hipolito
Jollybee E. Jamias
Ivan Angelo E. Javier
Jose Raul E. Jereza IV
Ricardo T. Jimenez
Rachel C. Juyo
Edgar A. Lagura
Ebony Arianne G. Lautner
Charlie G. Ledesma
Steven S. Lim
Marie Louise D. Liwanag
Maria Consuelo A. Lukban
Elaine Ruth S. Lumbre
Dino S. Macasaet
Edgardo O. Madrilejo
Andrew Angelo Mahinay
Florendo G. Maranan
Lea Angeline A. Maranan
Ma. Carmina T. Marquez
Mauren C. Mayorga
Marjorie Kathereen A. Mendoza
Michael B. Mercado
Roberto Isabelo P. Mercado
Jomar O. Mislang
Kristofer T. Molina
Lady Janelle M. Monsanto
Gelyn F. Mijares
Josenia Jessica D. Nemeño
April Ria M. Ng Uy
Mica Rose P. Nopuente
Emmanuel Jesus G. Osalvo
Michaelangelo R. Oyson, CFA
Perlina I. Padilla
Maria Cristina R. Peñaranda
Ma. Isabel R. Perey
Manny F. Quiambao
Tricia Marie C. Quiambao
Rosemary F. Raymundo
Julius R. Respicio
Benjamin Christian C. Ricalde
(Ret.) Major Erwin L. Rosete
Edelyn B. Sagales
Juan Miguel A. Santiano
Alberto C. Santos Jr.
Joanne V. Sigua
Sarah Jane S. Songalia
Sylvia P. Sumagpang
Cherish Honey C. Tan
Javie Kristine C. Tatad
Maureen Eve. DA. Tiangson
Edelinda R. Tined
Valerie Gayle L. Uy
Angeli D. Valdivia
Angelica M. Ylagan
Atty. Paul Roderick A. Ysmael
Philippine Business for the Environment
Tink Tank Studio
6768 Ayala Avenue
Makati City 0720 Philippines
www.bpi.com.ph
137

Sustainability Report

Transcription

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