Philippines' best domestic bank 2022: BPI
Bank of the Philippine Islands was the first bank set up not just in the Philippines but the broader southeast Asian region, too. Over the last few decades, it has consistently ranked among the biggest Philippine institutions in terms of total assets, capital, market capitalization and profitability.
Even when the economy was hit by the pandemic and the impact of higher inflation in 2021, the team run by president and chief executive Jose Teodoro Limcaoco managed to increase BPI’s market share in banking system deposits, loans and assets under management.
BPI’s cross-border remittances business is hard for peers to match, as is the bank’s footprint across bancassurance, asset finance and leasing.
Shaky markets did not deter BPI from continuing to play an outsized role in capital markets, particularly in fixed income and equities underwriting, distribution and brokerage services. It also has the second-biggest branch network and second-largest ATM network in the country, and employs nearly 19,000 people.
BPI wins Asiamoney’s best bank award because it excelled in virtually all of the awards categories.