BPI taps Savers Depot as agency banking partner

BANK of the Philippine Islands (BPI) has tapped retail chain Savers Depot to help expand its presence in Visayas and Mindanao via agency banking, offering its products and services at the latter’s stores.

Savers Depot will be BPI’s first partner in the do-it-yourself (DIY) retail store category to offer the full range of BPI Partner Store services under its Agency Banking initiative, including product onboarding, deposits, with-drawals, cash-outs, and the BPI OneQR scan and pay payment solution.

“This will allow customers to enjoy seamless banking experiences while doing their usual store visits,” BPI said in a statement.

“This partnership reflects BPI’s commitment to financial inclusion, community development, and customer convenience by leveraging trusted establishments to deliver secure and seamless banking services.”

Savers Depot branches in Lapu-Lapu and Ormoc are already offering BPI’s products and services in-store. Five more stores are expected to follow suit before yearend to bring the total to seven locations.

“This initiative means a lot to us. For years, our goal at Savers Depot has been simple: to serve, to build value. We understand that not everyone has easy access to a bank branch or an ATM (automated teller machine), especially in busy or remote areas. By bridging that gap, we’re helping make financial transactions more accessible, more convenient, and more personal. That’s something we can all be proud of,” Savers Depot Chief Executive Officer Kendrick Sia Sulay said.

Savers Depot is the bank’s 32nd partner store for its “May BPI Dito” agency banking initiative, which aims to make financial services more accessible.

BPI’s attributable net income inched up by 0.6% to P17.526 billion in the third quarter amid lower trading gains.

This brought its nine-month profit to P50.48 billion, up by 5.21% from the same period last year.

BPI’s shares went down by P1.30 or 1.13% to close at P113.70 apiece on Wednesday. — A.M.C. Sy