ank of Makati on April 16, 2015 joined the big players in the banking industry as it officially became Bank of Makati (A Savings Bank), Inc. (BMI).
Built on more than 50 years of experience in community banking, BMI was originally founded as a rural bank in July 1956. Since then, it has helped countless Filipino savers and entrepreneurs achieve their dreams.
In October 2001, the Bank gained stronger capability with the coming in of new shareholders, a new management and bigger capitalization. In 2006, it reached the elite list of the Top 1,000 Corporations in the Philippines, the first rural bank to do so. With total assets of Php5.2 billion and a net worth of over Php800 million, the Bank was recognized in the same year as the biggest rural bank in the Philippines – bigger, in fact, than most savings banks.
In 2009, BMI sported a new logo. Corollary to this, a new tagline came into being: “Malalapitan, Maaasahang Kaibigan.” The tagline depicted the Bank as a friend who reaches out, understands and can be counted on in times of need.
In 2013, the Bank stepped up preparations for a seamless upgrade to savings bank with the implementation of a new five-year plan. It became an allied member of the Bancnet ATM Consortium, expanded its reach in Metro Manila with its micro-oriented branches, and opened more loan centers. In 2014, it converted its Core Banking System to Finacle, an integrated system that automates both deposit and loan processing to support ATM, mobile and internet banking.
In the past couple of years, BMI’s growth was nothing short of phenomenal. The Bank's capital now stands at almost Php5.8 billion. It has deployed 10 ATMs and will soon issue its own ATM cards. A network of 19 full-service branches, 24 loan centers and 13 microfinance-oriented Metro Manila branches are now in place, with more in the pipeline.
Following the approval by the Bangko Sentral ng Pilipinas to operate as a thrift bank, BMI on April 28, 2015 officially became a savings bank.
Bank of Makati (A Savings Bank), Inc. sees no let up in its bid to make a significant contribution to nation-building. It is committed to serve and to make better banking options available to the public.
Its vision is to be the Micro, Small and Medium Enterprises (mSME) bank of choice.