Bank of the Philippine Islands (BPI) aims to attract 200,000 new stock investors in the near term through its enhanced online trading platform BPI Trade.
BPI Securities Corporation (BPI Securities), the bank’s stock brokerage arm, on Wednesday introduced the improved trading platform which now enables fully online account opening, more friendly-user features in the mobile app version, and customizable dashboards.
BPI Securities president and chief executive officer Mark Race said BPI Trade users have already increased to 100,000. He said his team targets to grow the client base to 300,000 in the next two to three years.
Race is optimistic that more Filipinos, especially young professionals, will start investing as the government and the private sector accelerate the development of digital infrastructure and financial literacy projects.
Active users are largely millennials
“Active users are largely millennials. This sub-group improved significantly from less than 30 percent,” he said during a media briefing on Wednesday at New World Makati Hotel in Makati City.
BPI Trade requires no minimum initial investment and features real-time market information and technical and fundamental analyses from BPI Securities.
The enhanced BPI Trade is currently available to select client segments and will be launched to the public on 28 May.
Resilient market
Race said he expects the Philippine Stock Index (PSEi) to grow by 9 to 10 percent in the near term as governments continue to negotiate with the Trump administration on securing lower US tariffs.
Economists expect such efforts to translate into low domestic inflation and extra funds that can be used for investing by the public.
“It seems investors are more on the risk-on sentiment but it seems a full-blown trade war is controlled at this point,” Race said.
However, he said property firms might continue to see a moderate sales growth as the reduced interest rates have yet to take full effect.
Policy rate to lenders eased
The Bangko Sentral ng Pilipinas eased its policy rate to lenders to 5.5 percent in April from 5.75 percent after inflation slowed further in March at 1.8 percent, the lowest in over four years.
“Property companies tend to do well when interest rates decline but inventories are still quite high. Our analysts are expecting recovery in the property sector late next year,” Race said.
Given some risks from Trump’s tariffs, he said his team maintains the PSEi to hit 7,600 this year and the next.
He stressed the outlook might change as analysts are still waiting for more definitive trade policies from the Trump administration.
“There might be some tariff negotiations already but the situation is fluid. We’re still recalibrating,” Race said.
Amid Filipinos’ growing interest and knowledge on equity investing, Race added that there is a need to expand the local stock market through initial public offerings (IPOs).
Officials of Ayala-owned GCash and Pangilinan-led Maynilad Water Services, Inc. have said they are considering announcing an IPO.
“Investors are looking for decent yields and the market needs some variety. With the way the market is performing now, there’s a chance for three to four IPOs,” Race said.