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Dubbed "One Ayala," the campaign offers a multi-faceted card that acts as a banking, rewards and privilege card that enables overseas Filipino workers to easily access the services offered by the Ayala Group. They can obtain the One Ayala Card after their first transaction from any of the three giant firms. These transactions can be in the nature of a purchase of property from Ayala Land; sending a remittance or opening a remittance account with BPI; or making a transaction using Globe Kababayan’s G-Cash remittance or International AutoLoadMAX service available at participating outlets worldwide. ALI said 40 percent of its P14 billion in residential sales came from Filipino expatriates. Globe said it generated P446 million in revenue from servicing the communication needs of overseas workers, while BPI expects its remittance service to grow at least 15 percent this year, from .8 billion last year, as overseas Filipinos using its money transfer service rise to 500,000 from 430,000 last year. The bank also extended a total P1 billion in loans to expatriates last year. BPI is eyeing a 15 percent to 20 percent increase in the volume of foreign exchange it will handle this year. It is confident to maintain its foothold as the most preferred institution to service the financial needs and services of overseas Filipino workers (OFWs). In a talk with reporters yesterday, BPI President Aurelio Montinola III said they were banking on the 14.7 percent increase in number of OFWs to be serviced, from 436,000 end December 2006 to roughly about half a million, to drive-up the profitable remittance business. Based on its $ 2.8 billion foreign exchange volume in 2006, the 15 percent to 20 percent growth is equivalent to $ 420 million to as much as $ 560 million increment, which would bring its total business to between $ 3.22 billion and $ 3.36 billion for the whole of 2007. "Our thrust is to move from just remittance transaction to an OFW relationship," Montinola said. This means providing an OFW the whole range of financial services from their requirements prior to deployment to the handling of their remittance offshore for delivery to their beneficiaries, housing needs, credit card and even insurance products. Montinola disclosed that the sale of BPI’s nonremittance products has, in fact, accounted for 35 percent to 40 percent of the entire OFW business, of which 19 percent represents the housing loans. The introduction of One Ayala is expected to boost BPI’s leadership, Ayala Corporation vice-chair, president and chief operating officer Fernando Zobel de Ayala said during the launch. "This card aims to give our expat Pinoys the very best possible service from the Ayala Group of companies. We envision this card in the hands of Filipino workers everywhere - in the He described the OFWs as the prime catalyst and the "cornerstone" of the country’s economic growth with their billions worth of dollar remittances. Zobel de Ayala admitted that BPI, for one, has benefited tremendously from their OFW clients, lending as much as P1 billion in 2006. On the other hand, Globe Telecom, through its various products, among them, G-cash, realized some R205 million in inbound profit and R241 million in reload volumes. Forty percent of Moving ahead, other subsidiaries of Ayala Corp., among them Automotive dealerships and myAyala will likewise join the program by adding their offering to expat Pinoys, Zobel de Ayala bared. "In the future, we plan to further improve the package of benefits offered by One Ayala cardholders. We intend to listen carefully to the suggestions of the cardholders themselves and the expat Pinoy community regarding benefits that they would best appreciate," he said. |
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