BPI named Best Domestic Bank in the Philippines
Finance Asia, The Asian Banker recognize BPI’s investment banking, wealth management, credit card
MAKATI CITY, Philippines—Bank of the Philippine Islands is named Best Domestic Bank in the Philippines for 2016 by Finance Asia, a leading international publication on investment banking and finance in Asia-Pacific, at its 20th Anniversary Platinum Awards.
“Besting other top banks in the domestic market means a lot to us, as this expresses the Filipino’s confidence and trust in our banking services to address their most important financial needs and aspirations,” Cezar P. Consing, BPI President and CEO, said.
“In addition, these recognitions exhibit not only the quality of our financial products and services, but more importantly the capability of our people to address unique and many times complex financial requirements of undertakings that serve the bigger needs of the economy.”
Finance Asia cited the leading role of BPI, through BPI Capital Corporation, in landmark deals that were significant not only to the Philippines, but to the rest of Asia as well. These deals include the P10-billion financing for Aboitiz Power Renewables Inc., the Asia-Pacific’s first Climate Bond, for which BPI Capital served as lead arranger; and the P263-billion Liability Management Exercise of the Philippine government intended to develop the Philippine domestic debt markets, where BPI Capital served as joint global coordinator and joint deal manager.
In addition, Finance Asia in its 2016 Country Awards for Achievement named BPI Capital Corporation as the country’s Best Investment Bank, Best Debt Capital Market House, and Best Equity Capital Market House.
Another reputable regional award-giving body, The Asian Banker, in October gave BPI top accolades for its client-centered approach to banking. The 2016 Asian Banker Philippine Country Awards named BPI’s Express Credit Gold MasterCard as Best Credit Card Product. The Asian Banker cited the bank’s prudent management resulting in low delinquency ratio in its credit card portfolio, with the Express Credit Gold MasterCard accounting for almost 40% of the entire portfolio’s outstanding balances.
The Asian Banker also gave BPI’s Asset Management and Trust Group the Wealth Management of the Year award, citing the group’s ability to cater to clients who seek best yields and asset growth, while generating strong fee income for the bank. In the first half of 2016, total assets under management of the group increased by 9% over the previous year.
Based in Singapore, The Asian Banker is the region’s top source of strategic business intelligence and is well known for its comprehensive work in publications, research services, and forums.
ABOUT BANK OF THE PHILIPPINE ISLANDS
The 165-year-old Bank of the Philippine Islands is the first bank in the Philippines and Southeast Asia. We are a commercial bank with an expanded banking license. We provide diverse financial services that include deposit taking and cash management, asset management, securities brokerage, foreign exchange and capital markets investments, bancassurance, corporate lending, leasing, and investment banking. BPI has significant financial strength, with strong Tier 1 capital adequacy ratios and profitability, underpinned by a strong risk management regime. BPI is rated investment-grade by international credit ratings agencies.