THE BDO Network Bank (BDONB), also known as BDO’s community bank, noted an increase in the number of women entrepreneurs who avail of their products to grow their businesses.
BDO reported that 66% of its micro, small, and medium enterprises (MSMEs) clients for BDONB are women-owned, as of 2022.
In a statement, Karen Cua, BDONB senior vice president said that supporting women in these roles could help them achieve more without being “overly burdened.”
“Promoting financial inclusion through the lens of gender equality is more than just distinguishing women’s economic behavior over men’s and making the necessary products or services that match each. We need to actively remove barriers for women that limit their participation in the financial system,” Cua said.
In the same way, the International Monetary Fund reports that “raising female participation in the workforce through employment or entrepreneurship can help boost the growth of emerging markets by around 8%, allowing countries to drive economic growth by maximizing women’s untapped skills and talents.”
BDONB continually assists women entrepreneurs and overseas Filipina workers (OFWs) to effectively manage their finances offering specialized services to facilitate seamless money transfers, provide investment opportunities, and deliver financial planning to optimize their income.
The bank also extends support to women government employees by providing accessible loan options to cover essential expenses such as medical needs, education, and home repairs, as well as for starting or expanding businesses. As of February 2024, about 77% of BDONB’s loan clients are women.
