I. EXECUTIVE SUMMARY
BPI Historical Background
Bank of the Philippine Islands (BPI) is that country’s second-largest bank, trailing only Metropolitan Bank & Trust. It is also the Philippines’ oldest bank and one of the oldest of all Asian banks. BPI offers a full range of commercial and retail financial services, including corporate finance services, asset management, and brokerage and other financial consulting services. BPI’s retail network includes more than 700 branches throughout the Philippines, as well as branches in New York, Hong Kong, and Tokyo. The bank also operates a network of more than 1,200 automated teller machines and more than 8,500 retailer-based point-of-sale machines. In 1999, BPI pioneered online banking in the Philippines with the launch of online bank BPI Direct in 1999. In addition to its banking products and services, BPI has also developed a strong non-life insurance operation, chiefly under subsidiary BPI/MS Insurance Corporation. Listed on the Philippines Stock Exchange, BPI has long been majority controlled by Philippines conglomerate Ayala Corporation.
Founding Asian Banking History in the 19th Century
The increasing trade between Spain and the Philippine Islands created a need for a banking facility in the Spanish colony. A first attempt to establish a colonial bank came in 1828, when King Ferdinand VII called for the creation of a public bank in the Philippines. Yet the actual formation of the bank did not occur until the middle of the century, under the auspices of then colonial governor Antonio de Urbiztondo y Eguia, who took up his post in 1850.
Urbiztondo established the bank the following year in the Royal Custom House in the fortress town of Intramuros. The bank was named El Banco Español Filipino de Isabel 2 in honor of the reigning queen of Spain. Joining the bank’s policy board was Antonio de Ayala. The Ayala family and the later Ayala Corporation were to remain intimately related with the bank and with the Philippines’ industrial development.
As the first and only public bank in the Philippines—and perhaps the first public bank in all of Southeast Asia—El Banco Español Filipino de Isabel 2 was granted the authority to issue the first paper money in the Philippines. That operation started in 1852, when the bank issued its firstpesos fuertes, or ‘strong pesos.’
El Banco Español Filipino de Isabel 2 and its successors played a prominent role in financing the development of the Philippines. This included financing for the country’s first railroad, and, later, its telephone network, its electric utilities, and the country’s first steamship service.
In the meantime, the bank changed its name after Isabel II was dethroned in 1869, becoming more simply El Banco Español Filipino. Nonetheless, the bank remained under the control of Spain. The bank remained in its Intramuros site until nearly the end of the century. However, the shift in Manila’s industrial and commercial activity led the bank to move its offices in 1892 to the Binondo district across the Pasig River.
The development of the sugar industry in the Philippines had opened up new potential banking markets, and the bank petitioned Spain for permission to expand its operations. In 1897, Banco Español Filipino opened its first branch office, Iloilo. The outbreak of the Spanish-American War the following year, however, changing the political situation in the Philippines.
The Philippines became a U.S. possession following the Treaty of Paris of 1898. No longer under Spanish domination, Banco Español Filipino transformed itself into a purely Filipino institution. While the change in the company’s name—authorized in 1907—came only in 1912, it nevertheless adopted the name of Bank of the Philippine Islands (BPI). The Spanish influence remained strong, however, and the bank became popularly known as Banco de las Islas Filipinas. Also in 1912, the bank opened its second branch office, in Zamboanga.
BPI continued its money-issuing function during this period, although it was no longer the exclusive issuer of Philippine pesos. With the creation of the Central Bank of the Philippines in 1949, however, BPI lost its money-issuing privileges altogether. The now-independent country began instituting a variety of banking reforms designed to stimulate the growth of the banking system and the creation of new banks, particularly in rural areas. As part of that process, BPI was converted to a private bank. In 1969, the bank’s relationship with the Ayala family and businesses strengthened after Ayala Corporation took a majority share in BPI. At that point, BPI became the center of Ayala’s banking and, later, insurance interests.
Under Ayala, BPI began an expansion campaign lasting into the next century that firmly positioned it among the Philippines’ top banks. Much of BPI’s growth came through a stream of acquisitions, starting in 1974 with its purchase of the Peoples Bank and Trust Company. That acquisition significantly helped to build BPI’s branch network.
Expansion and Diversification in the 1980s
In 1982, BPI began preparing for the deregulation of the Philippines’ banking industry, which enabled it to transform itself into an expanded commercial bank. As part of that effort, BPI acquired Commercial Bank and Trust Company, which specialized in the middle market, in 1981. The growing bank then moved to enter the investment banking field with the purchase of Ayala Investment and Development Corporation in 1982. BPI’s relationship with Ayala also enabled it to add an international component that year when it took over Ayala International Finance, based in Hong Kong. BPI made two more significant purchases in 1982 when it acquired Philsec, boosting its new investment banking wing, and Makati Leasing and Financing. The latter purchase helped strengthen its own leasing arm, which was launched in 1980 and made BPI the first Philippine bank to offer leasing facilities.
BPI by then had expanded its operations into the Philippines rural areas after acquiring People’s Development Bank, which also held a strong, agribusiness-based loan portfolio, in 1984. That purchase enabled BPI to meet new government requirements stipulating that agribusiness loans make up at least 20 percent of a bank’s loan portfolio. The People’s Development Bank acquisition formed the basis of BPI’s new subsidiary, BPI Agricultural Bank.
BPI continued its acquisition burst into the mid-1980s. In 1985, the company added Family Bank, at the time a major mortgage and savings bank in the Philippines. Renamed BPI Family Bank, the new subsidiary grew into one of the country’s leading consumer lending banks. Also in 1985, BPI stepped up its international component with the purchase of Asian International Bank, based in New York. That office was later converted into a full BPI branch.
· Key Dates:
· 1828: King Ferdinand VII of Spain issues a decree authorizing the formation of Bank in the Philippines.
· 1851: El Banco Español Filipino de Isabel 2 is established.
· 1898: The bank becomes a Filipino institution after United States takes over the Philippines from Spain.
· 1912: The bank changes its name to Bank of the Philippine Islands (BPI).
· 1969: Ayala Corporation acquires control of BPI.
· 1974: BPI acquires Peoples Bank and Trust Company.
· 1980: The bank begins leasing operations.
· 1981: Commercial Bank and Trust Company is acquired, and the first ATMs are introduced.
· 1982: The company converts to expanded commercial bank status.
· 1995: First Cavite Savings is acquired.
· 1999: Far East Bank and Trust Company is acquired.
· 2000: BPI Direct internet banking service is launched, and Ayala insurance companies are acquired.
· 2002: DBS Bank Philippines is acquired.
· 2003: The company spins off re-insurance operations into Universal Malayan
II. INTERNAL ASSESSMENT
A. CORPORATE PROFILE
BPI Building, Ayala Avenue, Paseo De Roxas
Makati City, 1200
Company Profile: Bank of the Philippine Islands
2009 Sales: 46,880,000,000
Major Industry: Financial
Sub Industry: Commercial Banks
Bank of the Philippine Islands (BPI) is a Philippine-based commercial bank. The Bank and its subsidiaries offer a range of financial services that include corporate banking, consumer banking, investment banking, asset management and corporate finance. The BPI also serves its customers through alternative electronic banking channels, such as telephone, mobile phone and the Internet. The Company operates in three segments: Consumer Banking, Corporate Banking and Investment Banking. Consumer Banking segment covers deposit taking and servicing, consumer lending such as home mortgages, auto loans and credit card finance, as well as the remittance business. Corporate Banking segment consists of the entire lending, leasing, trade and cash management services provided by the BPI to corporate and institutional customers. Investment Banking segment includes the various business groups operating in the investment markets, and dealing in activities other than lending and deposit taking.
Statement of Purpose
“BPI: A Tradition of Leadership.”
WE BELIEVE in the central role that private enterprise plays in economic development.
WE BELIEVE that our corporate mission is to be the leading private financial institution in the Philippines in terms of professional competence, service quality, responsible corporate citizenry, and overall growth and stability; and to be an established ASEAN financial institution with a creditable worldwide outreach.
WE BELIEVE that we have a responsibility to manage the business for the maximum benefit of our customers while adopting the highest standard of integrity; to offer the widest possible range of financial services that is responsive to their needs; and to adopt an objective attitude towards change and innovation, ever mindful of improving service quality and operating efficiency.
WE BELIEVE that we have a responsibility to develop the potential of our employees to the fullest by providing an environment conducive to their personal and professional growth; and to foster a value system held in common throughout the institution in order that we may all share a coherent sense of purpose and direction.
WE BELIEVE that we have a responsibility to attain, over time and within exacting standards of prudent management, the highest possible return on the investment of our shareholders
C. COMPANY MISSION AND VISION
To be the leading non-life insurance company in the Philippines in terms of professional competence, service quality, responsible corporate citizenry, and overall growth and stability.
Through our insurance and financial service business, we commit ourselves to:
· Bring security and safety to people and businesses around the world, and make a lasting contribution to the enrichment of the society.
· Provide the finest products and services, and realizing customer satisfaction.
· Continuously improve our business, thereby meeting our stockholders’ expectations and earning their trust.
· Provide our employees an environment for challenges, incentives and professional growth.
D. CORPORATE OFFICERS
Board of Directors
Chairman Jaime Augusto Zobel De Ayala II
President Aurelio R. Montinola III
Fernando Zobel de Ayala
Gerardo C. Ablaza Jr.
Emily A. Abrera
Lilia R. Bautista
Romeo L. Bernardo
Chng Sok Hui
Octavio V. Espiritu
Rebecca G. Fernando
Xavier P. Loinaz
Ma Yuen Lin
Annie Mercedita S. Nolledo
Oscar S. Reyes
Wong Ann Chai
E. PRODUCT LINES
PRODUCTS & SERVICES
• Long Term Negotiable o Certificate of Deposits
Foreign Currency Deposits
• Revolving Credits
• Term Loans
• Trade Finance
• Fleet & Floor Stock Financing • Project Finance • Sustainable Energy Financing
• Housing Loans
• Auto Loans
• Motorcycle Loans
• Property Equity Credit Line
• Crop Loans
• Finance Lease
• Operating Lease
• Full Service Operating Lease
• Lease Syndication
INTERNATIONAL BANKING (HONG KONG)
Multi - Currency Time Deposits
Investment Management Account (Directional)
• Foreign Currency Bonds
• Hong Kong and China Equities and Equity Funds
Letters of Credit and Trade Financing
PAYMENTS & SETTLEMENT SERVICES
Self-Service Banking Channels
• Express Phone
• Express Online
• Express Mobile
• Express Teller ATM
• BPI Trade
• Debit Car
• Credit Card
• Prepaid Card
Payment and Settlement Facilities
• Cashless Shopping
• Bills Payment
• Funds Transfer
o Direct Credit-to-Account
o Branch Pick-up
• Cellphone Reloading
Corporate Cash Management
• Liquidity Management
ASSET MANAGEMENT & TRUST
Corporate and Institutional Fund Management
• Employee Retirement/Benefits Fund
• Pre-need/Insurance Company Funds
• Religious/Educational/Institution/Foundation Fund
• Mutual Funds
• Provident Fund Administration • Employee Savings Fund • Enhanced Value Funds
Personal Wealth Management
• My Portfolio
• BPI Legacy
• Living Trust
BPI Investment Funds
• BPI Short Term Fund
• BPI Premium Bond Fund
• BPI Gold Fund
• ABF Philippines Bond Index Fund
• BPI Institutional Fund
• BPI Balanced Fund
• BPI Equity Fund
• BPI Global Equity Fund
• BPI Global Philippine Fund • Philippine Dollar Bond Index Fund
• BPI International Fund Plus
Custody and Special Purpose Trusts
• Securities Custodianship Account (SCA) • BPI Investment-Linked Limited Structure (BILLS)
Traditional Trust Services
• Mortgage Trust Indenture
• Asset/Mortgaged-backed Security
• Escrow Agency
Acquisition Financing Securitization
Mergers and Acquisition
Sovereign Debt Instruments
Philippine Sovereign Instruments
Treasury Bills and Notes
Retail Treasury Bonds
Republic of the Philippines Bonds
Asian Sovereign Bonds
Trade Receivables and Acceptances
Corporate Promissory Notes
Spot Foreign Exchange
Forward Foreign Exchange
Foreign Exchange Swaps
Cash Collateralized Forwards
Forwards with Margin
Interest Rate Swaps
Cross Currency Swaps
• Individual Life (Term, Whole Life, Endowments, Variable Life)
• Group Life
• Marine & Aviation
• Personal Accident
• Trade Credit
• Pension Plans
• Educational Plans
Call Center Services
• Fixed Income Research
• Equities Research
Bank Statement Services
• Statement Printing
• Letter Shopping
C. IFE MATRIX
Based on the IFE Matrix BPI scores (weighted score). The weighted score indicates that the company responds in an effective way to the existing strength and weaknesses in the industry. Banks have large roles in increasing number of branches here in the Philippines.
A. MARKET POSITION
As shown in the graph, In terms of assets, the market share of BPI is P724.420 billion who has the least, while BDO who has the leading market share of P862.049 billion, second to its major competitor is metro bank and trust company has a total of P854.307 billion market share, This graph focuses on the three leading banking institution in the Philippines, obviously BDO ranked in television advertisement & promotion that make brand awareness to the public.
B. PORTER’S MODEL
Porter’s Framework Analysis
At present, Bank of the Philippine Islands is a privately owned bank. BPI’s main competitor is Metrobank. However, other competitors include Banco De Oro, Land Bank of the Philippines, Philippine National Bank, and Rizal Commercial Banking Corporation (RCBC). BPI does not compete with its two banking partners: BPI Family Savings Bank and BPI Direct Savings Bank. Instead, they offer different levels of services based on the needs of the potential BPI client. In terms of both asset and total deposit Banco de Oro is the number one bank here in the Philippines.In 2008, Metrobank slid to rank number 2 in terms of both assets and deposits. The Bank of the Philippine Islands ranked as number 3 in the competition.
There is no new universal bank entering in the Philippine banking industry. This maybe because of the strict regulations and requirements imposed of the Bangko Sentral ng Pilipinas in creating private or universal banks in the Philippines.
Investors of a bank supplied cash for the firm to enable the bank to conduct its operations, which includes lending of money to its customers. Depositors also belong in the supplier side; they are considered the source of cash of a bank.
Substitutes for Bank of the Philippine Islands viewed as universal bank are thrift bank and cooperative banks. These banks have different features compare to a universal bank. A thrift bank has the power to accept savings and time deposits, act as a correspondent with other financial institutions and as a collection agent for government entities, issue mortgages, engage in real estate transactions and extend credit. In addition, thrift banks may also maintain checking accounts, act as a depository for government entities and local government units and engage in quasi-banking and money market operations subject to the approval of the Bangko Sentral. BPI Family Savings Bank and BPI Direct Savings Bank are part of a thrift banks.
The customer of Bank of the Philippine Islands may also be their suppliers of money which may also called as the depositors. They deposit their money in the bank in order for them to keep it safely and they can withdraw this anytime they want. Depositors can also lend money from the bank on which the depositor now became the debtor.
C. EFE MATRIX
EXTERNAL FACTOR EVALUATION
Based on the EFE matrix BPI scores 2.86. The weighted score indicates that the company responds in an effective way to the existing opportunities and threats in the industry.
In the table we can see that the innovation of the competitor’s product got the highest weighted score in threats, BPI should improve more on their products and services that are being offered to their customers. Adding branches in public places may help the said company to maintain its good and high competitive performance
D. CPM MATRIX
COMPETITIVE PROFILE MATRIX
Based on the CPM matrix Bank of the Philippine Island obtained a weighted score of 3.30 while Banco De Oro and Metrobank and Trust Company obtained 3.90 and 2.95 respectively. BDO and Metrobank and Trust Company varied in score in some other factors which gave them a quite small difference in their weighted scores.
BPI should capitalize in their competitive advantage (number of Foreign Branches) and make improvements on those factors in which they are low such as allocating additional capital for Financial Position and Market Share as well as additional investment in banking technology and advertisements to keep their outstanding performance in the banking industry.
IV. STRATEGY FORMULATION
A. BCG MATRIX
As shown in the figure, a four-quadrant diagram is drawn and labeled as stars, question mark, cash cow and dog. The market potentials of each of the products or services handled by the the firm are assessed and then indicated or listed in the appropriate quadrant of the BCG matrix. Given the BCG matrix indicating in which product or service belongs to which product or service will be pushed hard or set aside for the time being. The listed services that fall under the category of the star are market leaders typically at the peak of their service life cycle. They are usually capable of generating enough cash to maintain their high share in the market. When their market rate slows, star become cash cow. Services that fall under the castegory of question mark are new products with the potential for success, but they ned a lot of cash for development. If such a product is to gain enough market share to become a market leader and thus a star, money must be taken from more mature products and spent on question marks. Products/Services that fall under the cash cow category are products or services taht typically bring in far more money than is needed to maintain in the market share. In the declining stage of their life cycle, these products are “milked” for cash that will be invested in new question marks. And lastly, the dog category, in this category of services has low market share and does not have the potential because they are in unattractive industry to bring in cash. Question marks unable to obtain a dominant market share and thus become stars by the time the industry growth rate inevitably slows become dogs.
Strategic Position and Action Evaluation (SPACE) Matrix
C. GSM MATRIX
ES average is 10/3 = -3.3
IS average is 13/3 = 4.3
CA average is 19/3 = -4.8
FS average is 13/3 = 4.3
SLOW MARKET GROWTH
Results from Strategic Position and Action Evaluation (SPACE) Matrix and the Grand Strategy Matrix, shows that Bank of the Philippine Island lies in the seconds quadrant. Firms in this quadrant are excellent in strategic position, wherein firms should continue to focus in their competitive advantages.
Market penetration and product development are the appropriate strategies for this cluster. BPI can use these strategies to apply those strategies given on SWOT analysis.
D. IE MATRIX
Having the coordinates of 2.78 and 2.86 which are the scores in the IFE and EFE matrix respectively, the combined effect of two analyses can be located in cell V which is the HOLD AND MAINTAIN position. The appropriate strategies for the firm are market penetration and product development.
E. TOWS/ ANALYSIS
· Third largest bank in terms of assets
- By having Total assets reached P725 billion (US$15.42 billion) as of December 2009. BPI named the third largest bank in terms of assets.
· Largest bank in terms of market capitalization
- BPI’s market capitalization stood at P125.0bn (US$2.63 billion), the highest among the listed banks, notwithstanding the 24.9% drop in the stock price.
· Country’s most profitable bank
- The Bank of the Philippine Islands’ (BPI) reported a 24 percent improvement in net income for the first nine months of 2010 to P9.1 billion due to gains in both net interest and not interest income.
· Many branches and ATM
- BPI has a total of 831 local branches all over the Philippines. And having 1,700 ATM. This strength enables its customer to transact with company anywhere.
· Foreign branches are increasing
- BPI expands globally by establishing foreign branches all over the world. It has more than 700 branches throughout Philippines as well as branches in New York, Hong Kong, and Tokyo. Because of these foreign branches, international customer can transact from these branches with ease.
· Encashment / Deposit checks without any charge
- BPI did not charge any amount when you encash your checks or deposit checks compare to the other bank that charges fee for every transaction.
· History of minimal complaints
- BPI has a history of minimal complaints based on the blogs and other comments on the internet.
· Online account security is really tight
- Because of the threat in online account hacking, the BPI makes their security really tight to prevent some malicious and unknown transaction.
· Few advertisements
- Competitors of BPI have more TV ads than them. BPI has a lower rating compared to its competitors, wherein they promote new products and services to the public through TV advertisements.
· Operating expenses increase by 7% from last year
- Because of having many branches, its operating expenses rose by 7%
· Absence of strategic group
- By the absence of a strategic group, some competitors are now gaining more customers than BPI.
· Limited access to international market
- BPI is not that known worldwide, that’s why its access to other market is limited
- New banking technology
Improvement of banking technology, specifically the software that they use greatly improves their operations as well their productivity.
· OFW Remittances
- Throughout the year, the rates of remittances are increasing, because of the continued strong demand of professional and skilled overseas Filipino workers. Increase in car loan financing and credit cards
· Development programs to the employees
- There are short term programs that are offered by some training centers for the employees to improve their skills
· Increase in car loan financing
- Due to the behavior of Filipinos they apply for loans to have they needs or wants.
· Increase of credit card users
- Many Filipinos apply for credit cards because of great offers. And many company target this because of fast return through interest
- Existence of affordable money transfer
- Because of cheaper or affordable fee, customers might go for this affordable money transfer as substitute
- Supply and demand of foreign currency
- This will affect the company who invest in dollar because the fluctuation of exchange rates determines whether they will gain or loss.
- Innovation of some competitors
- Many competitors innovated their products and services to attract more customers
- Threats in mobile banking
- Now a day, hacking is one of the problems in mobile systems. An adversary can download the client on a laptop/desktop and use its insecurities for malicious purposes.
F. Quantitative Strategic Planning Matrix
G. OVERALL ANALYSIS OF STRATEGY FORMULATION
To formulate a strategy that is suitable in the analysis of BPI’s internal and external factors. Some matrices are used; it includes BCG matrix, SPACE matrix, GSM matrix, IE matrix and SWOT analysis.
Based on BCG analysis when their market rate slows, stars become cash cow. Services that fall under the category of question mark are new products with the potential for success, but they need a lot of cash for development. If such a product is to gain enough market shares to become a market leader and thus a star, money must be taken from more mature products and spent on question marks.
The result from Strategic Position and Action Evaluation (SPACE) Matrix and the Grand Strategy Matrix, shows that Bank of the Philippine Island lies in the first quadrant. Firms in this quadrant are excellent in strategic position, wherein firms should continue to focus in their competitive advantages.
In IE matrix, it shows that having the coordinates of 2.78 and 2.86 which are the scores in the IFE and EFE matrix respectively, the combined effect of two analyses can be located in cell V which is the HOLD AND MAINTAIN position. In SWOT analysis, the appropriate strategies for the firm are market penetration and product development to formulate all strategies.
In overall analysis, to maintain and to improve the status of BPI, they must have market penetration and product development, like introducing new product and services, upgrading their banking technology to be more competitive, invest in television ad and training to the employees to improve their skills to maintain the stability of BPI
V. STRATEGY RECOMMENDATION
Based on the matrices that has been collected and analyzed. The group would want to recommend that the company should improve both their extensive and intensive strategies. The strategies are Market penetration and Product development. These two must acquire both intensive and extensive efforts for their bank to maintain their high position and for them to improve their products.
Financial Strategy: 1% of Consolidated Services and Charges
Recommended business Strategy:
STRATEGY 1- MARKET PENETRATION
A. PRIORITIZING OFW REMITTANCES
In the external factor evaluation, studies show that one of the opportunities that help the company is the OFW remittances that are received. There is an increase source of this because they are many OFW or Filipinos working abroad. If the company would prioritize and improve this product, it would help the company to have a good performance compared to other. Company must improve how the families here in the country received the remittances of their loved ones abroad in a safe and fastest time.
STRATEGY 2- PROCUCT DEVELOPMENT
A. CONTINOUS HIRING OF EMPLOYEE
People are the one most important in every business because they were the one who makes your business grow big. By encouraging all the people in lined in this nature could be a big help to the company itself, but before this, the company should provide a good training for those who wants to apply for the job so they can able to do their job complete and correct. With a good training to the employee there would be surely a development of the activities and actions of the company to grow and sustain their goals.
B. IMPROVING BANK ACTIVITIES
There is a need to improve or upgrade the basic technology that the company have even at least once every 3 years to ensure the growth of the company and meets it success. The company must provide advance technology for an easier access to meet the clients’ quality, product and services. Improving this will also improve the overall efficiency in the company’s activities.
VI. ACTION PLAN:
Bank of the Philippine Islands (BPI) is a Philippine-based commercial bank. The Bank and its subsidiaries offer a range of financial services that include corporate banking, consumer banking, investment banking, asset management and corporate finance. The BPI also serves its customers through alternative electronic banking channels, such as telephone, mobile phone and the Internet. The Company operates in three segments: Consumer Banking, Corporate Banking and Investment Banking. Consumer Banking segment covers deposit taking and servicing, consumer lending such as home mortgages, auto loans and credit card finance, as well as the remittance business. Corporate Banking segment consists of the entire lending, leasing, trade and cash management services provided by the BPI to corporate and institutional customers. Investment banking segment includes the various business groups operating in the investment markets, and dealing in activities other than lending and deposit taking.
To maintain and ensure the company’s success the company must improve the strategy such as market penetration where in the company must improve and engaged into prioritizing remittances coming from the Filipinos abroad. In market development, the company must improve the banking strategies as well as providing more branches for the Filipinos to have more access to the company. In doing so, this can help the company to increase the trust of its client, increase affiliated companies that can help to be more convenient in transacting with other companies. A product development strategy, there is a need to trained more employees for man power, a need for improving activities like providing more ATM machines and having easier access to their money
Through the years, BPI strove to deliver the highest standards of convenience banking through the ingenuity of technology and creative management. As the recognized “most technologically advanced bank”, BPI introduced the first successful automated teller machine (ATM) service in the Philippines. Among BPI’s other firsts are: the issuance of the first debit card, the introduction of cashless shopping with the Express Teller Card, the establishment of banking kiosks, the Express Banking Centers, the launching of telephone banking with the Express Phone, and the use of a Call Center. BPI has distinguished itself by catering to the ever-evolving needs and lifestyles of the public.
By doing the recommended strategies given in this study it would help the company to meet the goal of having a good standard of convenience banking. This will help the company to be on the top. By effective planning and implementing all the required actions, the company now can give more accurate actions and products to their customers.