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BPI officially became an expanded commercial bank (universal bank) in 1982, and thus started engaging in non-allied undertakings.

In 2000, BPI became the first bancassurance firm in the Philippines, after it acquired the insurance companies of the Ayala Group. These companies (under the Ayala Insurance Holdings Corporation) were FGU Insurance Corporation, Universal Reinsurance Corporation, Ayala Life Assurance, Ayala Health Care and Ayala Plans. FGU Insurance was later merged with FEB Mitsui Marine Insurance Company and is now known as the BPI/MS Insurance Corporation.

Also in 2000, the bank introduced its internet bank, BPI Direct Savings Bank, which launched BPI into 21st century banking. Today, BPI has maintained a leadership position in consumer banking, trust banking and asset management, corporate banking/corporate finance and bancassurance. With over 700 branches and around 1,100 automated teller machines, BPI boasts of having the largest combined network of branches/kiosk units and ATMs, servicing some 3 million depositors.

For years, international publications and rating agencies have given annual awards to BPI as one of the best banks in the region. Among these are the Far Eastern Economic Review, The Banker, Euromoney, Asiamoney, BusinessWeek, The Asset, Global Finance, Finance Asia, and The Asian Banker.

BPI has been consistently cited for its above-average profitability, sufficient capital/assets, low-cost funding base and manageable non-performing loan levels. Fitch Ratings noted that BPI has a comprehensive risk management which is superior to that of its peer banks, and this serves as an important element in keeping BPI better positioned in Philippine banking in the years ahead.