Asian 100: Bank clean-up slows

Equitable PCI Bank (48) is the joint highest climber in the Asia-Pacific Top 100 banks following the merger of Equitable Banking Corporation, with its focus on the region’s Chinese population, and Philippine Commercial International Bank, which lends more to the corporate and ethnic Filipino market. Philippine banks remain in generally good health, though depositors have been spooked by cronyism – in a recent auction of the government’s entire 30% share in Philippine National Bank the sole bidder was Lucio Tan, an ally of president Joseph Estrada.