HK publication names BPI best bank in PH
Ayala-led Bank of the Philippines Islands (BPI) is the “best” Philippine local bank for 2016, according to Hong Kong-based regional financial publication FinanceAsia.
The award was given to the 165-year-old BPI, Southeast Asia’s oldest bank, at FinanceAsia’s 20th Anniversary Platinum Awards.
FinanceAsia cited the leading role of BPI, through BPI Capital Corp., in landmark deals that were deemed not only significant to the Philippines but also to the rest of Asia. In its 2016 Country Awards for Achievement, FinanceAsia also named BPI Capital as the country’s “best” investment bank, “best” debt capital market house and “best” equity capital market house.
“Besting other top banks in the domestic market means a lot to us, as this expresses the Filipinos’ confidence and trust in our banking services to address their most important financial needs and aspirations,” BPI president and chief executive Cezar Consing said in a press statement on Friday.
“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.”
The relevant deals cited by FinanceAsia included the P10-billion financing for Aboitiz Power Renewables Inc. and the Asia-Pacific’s first climate bond, for which BPI Capital served as lead arranger.
Likewise cited was the P263-billion liability management exercise of the Philippine government intended to develop the domestic debt markets. BPI Capital served as joint global coordinator and joint deal manager.
Last October, Singapore-based publication The Asian Banker also honored BPI. 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 percent of the balance of the entire portfolio.
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 percent over the previous year. —Doris Dumlao-Abadilla
