The Bank of the Philippines Islands (BPI) announced plans to shut down 13 Robinsons Bank branches in October as part of its consolidation expansion through agency banking.
BPI head of consumer banking Maria Cristina “Ginbee” Go said that as of June this year, BPI has 865 branches, including 157 branches of the former Robinsons Bank, of which 13 will be consolidated in October.
“We are optimizing and rationalizing in the sense that we are closing some branches that are too near each other and then opening new branches in areas where we’re undersaturated or under servicing,” she said.
The planned openings are in Ayala Land developments, including the Azuela Cove in Davao and the Vermosa estate in Cavite.
BPI started its branch rationalization plan before acquiring Robinsons Bank and reduced its branch network to less than 800. With the merger with Robinsons, the number of branches grew to more than 800 early this year.
“When we had Robinsons Bank, when we merged, it increased the branches again, so we went back to 865 branches,” she said, noting that the company will continue to push through with its rationalization program.
BPI is also leveraging the Gokongwei group's retail presence through agency banking, covering Robinsons Retail outlets and The Generics Pharmacy across the country. The lender is also set to team up with more partners, with one in Cebu.
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