BPI Direct Savings Bank
From Wikipedia, the free encyclopedia
| BPI Direct Savings Bank | |
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| Type | Subsidiary of Bank of the Philippine Islands |
| Founded | Manila, Philippines (1986) |
| Headquarters | Makati City, Philippines |
| Key people | Raul D. Dimayuga, President |
| Industry | Finance and Insurance |
| Products | Financial Services |
| Revenue | P24.3 million PHP (▲0.05%) (2003) [1] |
| Employees | unknown |
| Website | www.bpidirect.com |
BPI Direct Savings Bank, known as BPI Direct for short, is a bank in the Philippines. It is a subsidiary of Bank of the Philippine Islands and is one of two banks owned by BPI, the other being BPI Family Savings Bank. It is the only Philippine bank to be highly dependent on telephone and online banking, and as such is one of the largest banks in the Philippines in those fields. It is primarily oriented towards the Overseas Filipino community and in turn the remittances business, but it does have clients based in the Philippines.
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[edit] History
BPI Direct Savings Bank was incorporated and registered with the Securities and Exchange Commission on September 26, 1986, primarily as a subsidiary meant to engage in the general business of savings and mortgage banking.
In 2000, BPI Direct underwent a major image change as it became the first Philippine bank designed around the telephone and online banking channels. It wanted to provide its clients with a way to have access to their accounts 24/7, as well as to provide the convenience of traditional banking services, such as opening a savings account.
Two years later, BPI Direct realigned its business strategy towards the Overseas Filipino community, but without alienating its existing clientele. Today, expatriate Filipinos in some countries with high numbers of Filipinos, such as Bahrain or Hong Kong, can open BPI Direct accounts, and Filipinos abroad can access their accounts from anywhere in the world. Because of this, BPI Direct decided to name itself "your bank away from home", which is its official slogan.
