DFIA, supported by the Bangko Sentral ng Pilipinas (BSP) and organized by the Microfinance Council of the Philippines Inc. (MCPI) in partnership with Citi Foundation, recognizes microfinance institutions and entrepreneurs who leverage digital solutions to drive financial inclusion.
BanKo was among four microfinance institutions (MFIs) recognized at the awarding ceremony.
Transforming microfinance via digitalization
"We are grateful to the BSP and MCPI for this recognition. BanKo’s journey exemplifies the transformative power of digital solutions in driving financial inclusion, helping Filipinos thrive in the digital age," said BanKo president Rod Mabiasen Jr. in a statement.
He added that BanKo remains committed to providing accessible and innovative banking solutions to empower self-employed micro-entrepreneurs (SEMEs).
BanKo’s mobile-first approach enhances financial access through the BanKo Mobile App, enabling users to perform interbank transfers, bill payments, and loan management with ease. The app’s straight-through onboarding facility allows customers to open accounts such as:
PondoKo, an interest-bearing deposit account with no maintaining balance
TODO Savings, offering a 5-percent annual interest rate
Empowering entrepreneurs with digital lending
BanKo’s NegosyoKo Loan has transformed lending for SEMEs, offering capital ranging from P15,000 to P500,000 with flexible terms from six to 60 months. Borrowers can initiate loan applications and re-availment directly via the BanKo Mobile App and the BanKo Loan Application Portal.
In 2024 alone, BanKo disbursed over PHP 21 billion in loans to more than 200,000 SEMEs, marking an impressive 53 percent growth in its loan portfolio.
Expanding nationwide presence
With 369 branches and branch-lite units in 77 out of 82 provinces, BanKo is at the forefront of digital financial inclusion in the Philippines, fostering economic empowerment and sustainable growth.
This recognition from DFIA 2024 further solidifies BanKo’s position as one of the country’s largest and most innovative microfinance banks, committed to bridging the financial gap for small business owners nationwide. — Ed: Corrie S. Narisma
