LISTED Bank of the Philippine Islands (BPI) said its budget for information and technology (IT) was increased by 50 percent this year, with the majority of the allocation going to cybersecurity.

'For 2022, our budget for digital spending — for technology, and IT related — is really about 50 percent higher than that of 2021. So we continue to make very substantial investments in terms of technology, a lot of that is going to cybersecurity,' Jose Teodoro Limcaoco, BPI president and chief executive officer, told reporters during a press briefing on Thursday.