BPI eyes P5B from new ‘Asean bond’ offer

Bank of the Philippine Islands (BPI) is seeking to raise P5 billion through a peso-denominated fixed-rate bond offering due 2028, as it hopes to support more social projects.

In a disclosure on Monday, the Ayala-led bank said the BPI Sigla Bonds would constitute the second tranche under its P200-billion bond and commercial paper program.

The two-year bonds would carry the Association of Southeast Asian Nations or Asean Social Bond label, as affirmed by the Securities and Exchange Commission on Dec. 18, 2025.

“The net proceeds of the offer will be used for the financing or refinancing of eligible social projects under BPI’s Sustainable Funding Framework consistent with the Asean Social Bond Standards,” it added.

The public offer will run from Jan. 26 to Feb. 4.

BPI targets to list the bonds on the Philippine Dealing and Exchange Corp. on Feb. 13.

The bank tapped BPI Capital Corp. and ING Bank N.V., Manila Branch, as the joint lead arrangers and selling agents for the offer.

In December, the bank disclosed its move to merge thrift bank units BPI Direct BanKo Inc., A Savings Bank (BanKo) and Legazpi Savings Bank Inc., as it pushes for a healthier capital base and improved efficiency.

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The union will create an entity with about P72 billion in assets, dislodging Sterling Bank of Asia as the sixth-largest thrift bank in the Philippines.

The bank saw higher earnings in the January to September 2025, improving by 5.2 percent to P50.5 billion. This was as its revenues climbed 13.2 percent to P142.3 billion. Net interest income also improved by 16.2 percent to P109.1 billion.

Gross loans reached P2.4 trillion, 13 percent higher than last year.