Oldest Philippine Bank Aims for 50 Million Users in E-Wallet Competition

Bank of the Philippine Islands, Southeast Asia’s oldest lender, is targeting to have 50 million customers on its digital platforms in the next three to five years to prop up earnings, according to its top official.

The push pits BPI against GCash of affiliate Globe Telecom Inc. in a nation where 44% of the adult population remains unbanked while competition from deposits to credit cards are feverish. GCash, the Philippines’ biggest digital wallet platform, has more than 60 million users.

Read More : Oldest Philippine Bank Aims for 50 Million Users in E-Wallet Competition