By the end of 2025, BPI anticipates having a total of 140 phygital branches. As of Monday’s statement, the bank already operates 59 phygital branches across the country. In addition to these, they also have nine prime phygital locations and three flagship branches.
Maria Cristina “Ginbee” L. Go, BPI’s Head of Consumer Banking, stated that their three-year phygital transformation has provided customers with greater convenience, simpler banking processes, and enhanced advisory services, fundamentally changing how clients interact with the bank. Ms. Go had previously indicated that BPI’s total branch count would likely reach 780 by the end of next year.
Maria Cristina “Ginbee” L. Go
“Phygital banks harness the combined strengths of BPI’s physical network and digital capabilities to offer customers convenient, effortless, and seamless banking experiences,” she added.
BPI highlighted that this expansion of phygital branches is a key component of its five-year plan to modernise its entire branch network. BPI designed these phygital branches to leverage both its physical network and its digital capabilities. The goal is to provide customers with convenient, effortless, and seamless banking experiences.
Interestingly, Ms. Go noted that customers who primarily bank online and those who mainly conduct over-the-counter transactions visit branches with similar frequency. However, digitally-inclined clients demonstrate higher engagement and transaction frequency overall.
Even though they are digital clients, they still appreciate visiting a branch for expert financial advice, seeking clarification, and exploring options. This physical presence helps build trust through personal interaction. The physical presence of the bank provides assurance, particularly concerning important financial matters.
Looking ahead, BPI anticipates a rise in customers using digital channels for routine transactions. This is expected as the bank enhances its mobile application with features like QR payments and mobile cheque deposits. Last year, BPI reported a record attributable net income increase of 20.04% to P62.05 billion. On Monday, the bank’s shares experienced a rise of P1.10 or 0.85%, closing at P131.10 each.
