Strategic BPI Plan for the 2019-2021 period


"Creating value with values" is the slogan of BPI's 2019-2021 Strategic Plan, which will have five priorities.


The Bank has five strategic priorities that aim to sustainably grow profitability, accelerate the transformation of the customer experience, develop talent, improve efficiency and consolidate leadership in terms of quality, trust and reputation with customers and society.

Under the motto "Creating value with values", the Plan will be implemented with the mission of contributing to the financial well-being of BPI's customers and of assuming itself as a reference in socially responsible banking, based on the principles of trust, quality of service and social commitment.

Five strategic priorities from a growth perspective

The 2019-2021 Strategic Plan is expected to be implemented against a backdrop of a moderate slowdown in economic growth in Portugal, which should nevertheless continue to benefit from growing investment, based on improved business confidence, favourable financing conditions and expansion of the tourism sector.

Through five strategic priorities, The Strategic Plan reflects the purpose of reinforcing the trend of growth and gains in market share that BPI has delivered in recent years.

The first priority is to ensure sustained growth in profitability based on expansion of corporate and business banking, consumer credit, mortgage lending and the sale of financial advisory products, including funds and insurance.

The second priority is to accelerate the Bank's digital transformation process, which will contribute to improving customer experience. Banco BPI intends to use the new technologies to increase the capacity to analyse and respond to the needs of each customer and to provide an increasingly innovative and multi-channel offering, with a clear focus on digital mobility and its impact on customer service.

The third priority considers BPI's human resources as a strategic element to achieve the stated objectives, through investment in training and development at all levels of the institution, fostering the management of talent and an agile culture that enables it to respond to the changing environment in the financial sector. The Plan also provides for the development of integration initiatives for CaixaBank Group's culture.

The fourth priority, increased efficiency, is aimed at simplification, digitisation and centralised management of processes, concentrating exclusively on customer service and the marketing and advisory services for financial products.

As a fifth priority, the Plan aims to consolidate the strong reputation of BPI, which was recognised in 2018 as the "Best Bank in Portugal" by Euromoney magazine. This priority is based on two main themes: the maintenance of the high levels of service quality that characterise the Bank; and the affirmation of BPI as a benchmark in the area of social commitment and responsible management.

Revenue growth and profitability

With the implementation of the 2019-2021 Strategic Plan, BPI expects to achieve an average annual growth rate of 7% in core revenues and an efficiency ratio of around 50% by 2021.

Profitability will be driven by the growth and diversification of key activities, such as the expansion of corporate and business banking, consumer credit and financial advisory services (insurance, funds and medium- and long-term savings). BPI aims to achieve an average annual growth rate of 5% in credit, superior to expected market growth, and 3% in customer funds, with emphasis on off-balance sheet funds (funds and insurance).

On the other hand, the Bank expects to ensure the stability of recurrent costs and to maintain the best credit risk indicators in Portugal, consolidating the NPL ratio below 3%.

Reinforce leadership in digital transformation

BPI has played a leading role in the digital transformation of banking in Portugal. The Bank is a leader in homebanking penetration, with almost half of its customers representing users of this channel. The same applies to corporate customers, where 84.5% use the Bank's digital channels.

Greater social commitment with the support of the "la Caixa" Foundation

As a result of BPI's participation in the CaixaBank Group, the "la Caixa" Foundation has begun its activity Portugal, where it plans to invest an annual budget of €50 million at a steady pace, which should be distributed by 2021, when the main programmes foreseen in the Social, Science, Research, Education and Culture Sector will be fully implemented.

Social responsibility has always been a fundamental aspect of BPI's identity and CaixaBank Group and will now be reinforced in Portugal in conjunction with the "la Caixa" Foundation, which is already supporting numerous projects in the areas of social solidarity, culture, education, science, research and entrepreneurship from the end of 2017.

The "la Caixa" Foundation is the largest foundation in Spain and the third largest in the world, with a budget of €520 million in 2018. The largest component of this investment, or about 60% of the budget, is for the development of social programmes.