The Bank of the Philippine Islands (BPI) has been named the Best Bank in the Philippines by the FinanceAsia Awards 2024, highlighting its excellence among Asia’s top financial institutions. Founded in 1996, FinanceAsia is a leading publication in capital markets, offering news and analysis on equity, digital assets, debt, and M&A deals in the region.
BPI’s commitment to sustainability, innovation, and excellence earned it several accolades, including Best Sustainable Bank for the fifth consecutive year, Best Corporate Bank, and Bank with the Biggest ESG Impact. BPI Capital Corporation also received recognition as the Best Investment Bank and Best Debt Capital Market House.
“We are honored to have been given these recognitions. We intend not only to grow the business, but to also ensure that our undertakings remain sustainable, one that empowers our clients, stakeholders, and partners, and contribute to building a better Philippines – one family, one community at a time,” said TG Limcaoco, BPI President and CEO.
In 2023, BPI furthered its sustainability agenda by launching new products and services. BPI Capital managed ACEN Corp.’s Php25 billion perpetual green shares offering, supporting solar and wind power projects. BPI also introduced the Green Saver Time Deposit, a five-year product funding renewable energy and green building projects.
BPI’s ESG initiatives include a comprehensive sustainability strategy roadmap developed with a third-party consultant. This plan tracks greenhouse gas emissions and outlines strategies for reduction. The bank also promotes financial inclusion through the Council of Inclusive Capitalism (CIC), supporting micro, small, and medium enterprises (MSMEs) and underbanked Filipinos.
BPI Capital was commended for arranging the Php20.4 billion RISE Bonds, the only ASEAN social bond in 2023, providing loans to MSMEs affected by natural and health disasters. For the Best Corporate Bank award, FinanceAsia recognized BPI’s Institutional Banking segment, which accounted for 73% of the bank’s total loans in 2023. This segment offers comprehensive financial solutions and support to corporate clients.
Additionally, BPI BanKo launched the e’Nay app with Ultra Mega, enabling same-day delivery of goods to sari-sari store owners. The app, available in select areas, has over 6,000 active users as of the end of 2023. BPI also supports the Philippine Spring Water Group, the top bottled water brand in the country, in pursuing sustainable development through solar panels and energy-efficient machinery.
These awards and initiatives underscore BPI’s dedication to sustainability, innovation, and excellence. The bank continues to empower clients, stakeholders, and communities, striving to build a better Philippines – one family, one community at a time.
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