BPI named Best Bank in the Philippines and Best Private Bank with Commercial Banking Capabilities
MAKATI CITY, Philippines—Bank of the Philippine Islands (BPI) was hailed as the Best Bank in the Philippines by Corporate Treasurer (CT) and the Best Private Bank with Commercial Banking Capabilities in the Euromoney Private Banking and Wealth Management Survey.
This is the fourth time in a row for BPI to be awarded Best Bank in the Philippines, besting other Philippine banks in three main service segments: cash management, trade finance, and risk management. CT recognized the bank’s achievements in acquiring and maintaining a large customer base, resulting in a higher volume of transactions in local and foreign markets. Moreover, CT recognized BPI’s experience in managing risks and giving expert advice while enabling clients to expand their financial portfolio.
Notably, in trade and supply chain finance, CT said BPI addressed the needs of alternative and affordable financing of micro, small, and medium enterprises (MSME). The bank’s Supply Chain Finance program allows clients to negotiate terms of credit with supplier MSMEs, which in turn gave MSMEs financing flexibility. The program sought to address results of the 2015 Ease of Doing Business Report of the World Bank, which cited that cash flow constraints is one of the reasons for hampered growth of MSMEs in the country.
CT is a leading publication in strategic insight and market outlook for senior finance professionals in Asia. The awards assessed client coverage and innovation, and client development and transparency. CT is part of the Hong Kong-based Haymarket Financial Media group.
Meanwhile, in Euromoney’s Private Banking and Wealth Management Survey, BPI was recognized as Best Private Bank with Commercial Banking Capabilities. The survey results are based on nominations from senior private banking and wealth management staff in the region on their knowledge based on the category.
“We are honored to receive this recognition, all the more so because it is given by our industry peers in the region. Although our private bankers possess extensive and multi-faceted knowledge of the market, what really sets us apart is our deep knowledge and understanding of our client’s needs, allowing us to empower them with financial advice. We do not 'push products’, but we listen to our clients and work with them closely to understand their needs before we recommend what product would suit them best. It is our goal to protect and nurture our long-term relationship with them,” said BPI Head of Private Banking, Tim Chuidian.
“The core of private banking lies in the utmost care of our clients’ financial assets, from assessing risks to giving them the space to explore opportunities locally and offshore.”
Established in 1969, Euromoney is regarded as one of the trusted sources in the financial sector, rounding up the key developments in capital markets, investment, and foreign exchange and treasury to its clients. It grants awards for excellence in various categories each year to the best banks spanning 100 countries around the world.
ABOUT BANK OF THE PHILIPPINE ISLANDS
At 165 years, BPI is the first bank established in the Philippines and in Southeast Asia. We are licensed as a universal bank by the Bangko Sentral ng Pilipinas to provide a diverse range of financial services: deposit taking and cash management, payments, lending and leasing, asset management, bancassurance, investment banking, securities brokerage, and foreign exchange and capital markets. BPI has significant financial strength, with robust Tier 1 capital adequacy ratios and profitability, underpinned by a stringent compliance and risk management regimes. BPI has investment-grade ratings of BBB- (Fitch), Baa2 (Moodys), and BBB (Capital Intelligence).