Bank of Makati

Bank of Makati, (A Savings Bank) Inc. or BMI is a thrift bank established in 1956. It was founded as a rural bank prior to its approval by the Bangko Sentral ng Pilipinas to operate as a thrift bank on April 28, 2015; it officially became a savings bank.

Bank of Makati (A Savings Bank) Inc.
FormerlyRural Bank of Makati
(until 2005)
Bank of Makati (A Rural Bank) Inc.,
(2005- 2015)
TypePrivate
IndustryFinance
FoundedJ.P. Rizal, Makati, Philippines (September 22, 1956; 66 years ago (1956-09-22))
HeadquartersAyala Avenue Extension,
Makati, Metro Manila
,
Number of locations
102 Branches
48 Regular Branch
14 Microfinance-oriented
40 Branch-lite units
Key people
Thomas C. Ongtenco, (Chairman)
Luis M. Chua, (President)
ServicesBanking, Insurance
ParentMotortrade (as affiliate company)
Websitewww.bankofmakati.com.ph

HistoryEdit

The Bank of Makati was established on September 22, 1956, as the "Rural Bank of Makati, Inc." along J.P. Rizal in the then-town of Makati, Rizal. In October 2001, the banking company underwent a change in ownership as well as some reforms. In November 2005, the name of the company was officially changed to "Bank of Makati (A Rural Bank), Inc.".[1]

In 2006, the banking company was included in the list of Top 1000 Corporations in the Philippines. According to the Business World Corporate Profile 2008, the Bank of Makati is the biggest rural bank in the country with total assets worth 5.2 billion and a net worth of more than ₱800 million exceeding the worth of some savings banks.[1]

The Bank of Company underwent a re-branding in 2009 and adopted a new logo and slogan.[1] Bangko Sentral ng Pilipinas granted the Bank of Makati a Certificate of Authority to operate as a thrift bank on April 28, 2015. With the granting of the certificate, the banking company officially changed its name to "Bank of Makati (A Savings Bank), Inc.".[2]

ServicesEdit

Bank of Makati also provides motorcycle loans for customers of its sister company, Motortrade and its affiliate businesses, Motorjoy Depot Inc., Honda Prestige, and Motortrade Topline.

See alsoEdit

ReferencesEdit

  1. ^ a b c "History". Bank of Makati, Inc. Retrieved September 12, 2016.
  2. ^ "Awarding of Certificate of Authority by BSP to BMI". Bank of Makati, Inc. 2015. Archived from the original on May 10, 2017. Retrieved September 12, 2016.