BPI opens ‘prime phygital’ branch in Davao

BANK of the Philippine Islands (BPI) has opened a “prime phygital” branch in Davao, the first of its kind in Mindanao, as part of its ongoing branch consolidation program and efforts to expand to regions outside the National Capital Region.

The new branch is in the 25-hectare waterside business and residential district Azuela Cove in Lanang, Davao City, BPI said in a statement on Monday.

The bank’s prime phygital branches have lounges for preferred clients with dedicated concierge and quick transact staff to assist them in their transactions.

BPI currently has 55 phygital, 13 prime phygital, and two flagship branches nationwide. It plans to open 25 more phygital branches and convert its remaining branches in the next five years.

The bank introduced phygital banking in 2023.

“A phygital bank combines the convenience of digital banking with the personalized service of physical branches to create a seamless and enhanced customer experience,” BPI Branch Stores Channel Head Dennis Fronda said.

“As our customers go more digital, we’re transforming our branches into centers of personalized financial guidance. By combining our digital strength with the expertise of our financial advisors, we help clients grow their wealth and achieve financial wellness. Our phygital approach allows us to focus on understanding their unique needs and providing holistic solutions for their life goals,” BPI Head of Consumer Banking and Executive Vice-President Maria Cristina L. Go said.

BPI’s net profit rose by 20% year on year to a record P62 billion last year, driven by double-digit revenue growth.

Its shares closed at P132 apiece on Monday, down by P2.50 or 1.86% from Friday’s finish. — AMCS