Business

BPI Expands Into Japan; Opens Representative Office

Manila—(PHStocks)—To further cater to the needs of Filipinos in the Philippines and abroad, BPI was recently granted authority by the Banko Sentral ng Pilipinas (BSP) to establish a Representative Office in Japan. As one of the top sources of remittance to the Philippines, Japan ranks seventh among the top 10 countries of destination of Filipinos in 2012. The BPI Representative Office, which is launched on October 29, 2014, seeks to make the best happen for Filipinos in Japan by providing a fast and affordable way of sending money to the Philippines through BPI’s tie-ups with several remittance companies in the country known as the land of the rising sun.

The BPI Representative Office will be located in the Roppongi district of Tokyo, home to a big expatriate community, including a vast majority of Filipinos. The location also hosts several foreign embassies, including the Philippine Embassy, and is also the location of several remittance and money-transfer branches with which BPI has partnered with, such as Speed Money Transfer Japan K.K. (SMTJ) and Japan Remit Finance (JRF).

According to Roy Emil Yu, Senior Vice President and Remittance Business Division Head of BPI Global Markets Group, “Establishing a representative office in Japan will allow us to provide our hardworking countrymen in Japan easy access to remittance solutions and other BPI services. This will also open more doors for BPI for future partnerships in and around the region. Our hope is to serve more Filipinos around the world.”

For years, BPI has been catering to the needs of overseas Filipinos, both sea-based and land-based. The Bank was awarded the first “BSP Hall of Fame” in 2007 as the top commercial bank in the Philippine remittance business for three consecutive years. BPI has been successful in targeting large pockets of overseas Filipinos (“OFs”) globally through its network of overseas branches, representative offices, as well as through partnerships and tie-ups with leading financial institutions. It offers a broad range of remittance services such as direct credit to account, cash pick-up, door-to-door, as well as gift remittances.

Through the Representative Office, BPI seeks to address the primary concerns of our countrymen working and living in Japan by providing a presence in a key location, affordable remittance fees, competitive exchange rates, a hassle-free remittance process, tellers who are fluent in both English and Filipino, and fast transfer of funds to their beneficiaries in the Philippines. These funds can then be withdrawn from over 2,500 BPI ATMs nationwide with no charge, or through BPI’s network of more than 6,500 accredited outlets, as well as door-to door delivery, and other easy methods.

The Representative Office, is also seen to promote BPI to Japan’s financial community by acting as a point of contact to existing partnerships in the region, and to continue pursuing initiatives with prospective tie-ups.

Aside from SMTJ and JRF, BPI also has a partnership with Kyodai. Through these tie-ups, BPI is positioned as a reliable provider of secure automated solutions and multiple distribution services with highly professional front and back-end teams.

About Bank of the Philippine Island (BPI)

Bank of the Philippine Islands is one of the largest banks in the Philippines and has the largest market capitalization among listed banks. It provides its clients a wide range of corporate, commercial and retail banking products through the bank’s extensive distribution network locally and abroad. Additional information is available at www.bpiexpressonline.com.

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