Bank of Makati

Bank in the Philippines

Bank of Makati (A Savings Bank) Inc.

Formerly	Rural Bank of Makati (until 2005) Bank of Makati (A Rural Bank) Inc., (2005- 2015)
Company type	Private
Industry	Finance
Founded	J.P. Rizal, Makati, Philippines (September 22, 1956; 67 years ago (1956-09-22))
Headquarters	Ayala Avenue Extension, Makati, Metro Manila , Philippines
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)
Services	Banking, Insurance
Net income	₱2.02 billion (2020)^[1]
Total assets	₱48.5 billion (Q3 2022)^[2]
Parent	Motortrade (as affiliate company)
Website	www.bankofmakati.com.ph

Bank of Makati, (A Savings Bank) (BMI) is a Filipino 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 when it officially became a savings bank.^[3]

History

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.".^[4]

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.^[4]

The Bank of Company underwent a re-branding in 2009 and adopted a new logo and slogan.^[4] 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.".^[5]

Services

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.

External links

Media related to Bank of Makati at Wikimedia Commons

References

^ "Bank of Makati 2020 Annual Report" (PDF). Bank of Makati. bankofmakati.com.ph. Retrieved December 31, 2020.
^ "BSP Ranking in terms of assets in 2022". BSP. bsp.gov.ph. Retrieved September 30, 2022.
^ "Company Profile: BMI officially became a Savings Bank in 2015". Bank of Makati. bankofmakati.com.ph. Retrieved April 28, 2015.
^ ^a ^b ^c "History". Bank of Makati, Inc. Retrieved September 12, 2016.
^ "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.