BPI advances financial inclusion for future Filipino seafarers

The Bank of the Philippine Islands (BPI) recently conducted financial literacy and wellness sessions for graduating cadets of the MOL Magsaysay Maritime Academy (MMMA), equipping them with essential financial knowledge and tools to help build and secure sustainable futures.

In collaboration with BPI Foundation’s Bayan Program (BPI Bayan), an employee volunteerism initiative, the Bank continues to champion financial inclusion by enabling future maritime professionals to establish a strong financial foundation as they begin their careers at sea.

MMMA cadets aspire to pursue opportunities in the global maritime industry to support their families and achieve long-term financial stability. Recognizing this, BPI tailored the sessions to address the unique financial realities and challenges faced by seafarers.

The sessions, attended by over 280 graduating cadets, covered key topics such as budgeting, saving, responsible spending, and income management within the context of seafaring. Cadets also participated in hands-on activities, including personal budget planning, expense prioritization, and simulated shipboard scenarios, giving them practical experience in managing finances while onboard.

In addition, BPI guided cadets on opening bank accounts, setting up payroll and allotment arrangements, exploring remittance options, and ensuring the secure handling of financial transactions. To further support their transition to life at sea, BPI distributed “Seafarer’s Kits,” which included essential items such as medicines, gloves, and caps, among others. Cadets were also given opportunities to become new-to-bank BPI clients with access to relevant products and services.

“Starting a career as a seafarer presents both opportunities and responsibilities, particularly in managing finances,” said Grace Saulog, Head of the Remittance & Fund Transfers for BPI Institutional Banking. “Through practical financial education, we aim to give graduating cadets a strong start toward financial success—helping them manage their earnings wisely and support their families with greater confidence.”

“My key takeaway from the session is that money is difficult to earn but easy to spend, which makes financial discipline essential. Through the journal provided by BPI, I was able to reflect more deeply on my financial behavior and future goals. It served as an eye-opener, helping me realize the importance of planning ahead, especially in relation to the salary I will receive as a future seafarer,” shared Cdt. Ezykiel Mae Trinidad, MMMA student.

The financial literacy and wellness sessions will be held annually, with plans to expand similar initiatives to first-year and second-year cadets to help them develop responsible financial habits early in their maritime journey.

Through initiatives like these, BPI reinforces its commitment to empowering Filipinos across sectors, ensuring they are equipped to make informed financial decisions and achieve lasting financial security.