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Philippines

Best bank
Bank of the Philippine Islands Best equities house
Deutsche Regis

Best debt house
HSBC

Best M&A house
CSFB

The bank offers a full service to corporate and consumer customers, with a branch network of 700, the most extensive ATM network and a customer base of 3 million. BPI was the first bank in the Philippines to adopt the bancassurance model and is also a leader in online banking.

In a market where the commission available from a full year of equity trades would barely pay a good banker?s end-of year-bonus, it is a miracle that any foreign brokers still ply their trade in downtown Makati.

Although a few firms still cling on, 18 have already packed up and headed home, unable to turn a profit. Deutsche Regis, which wins this year?s best equity house again, is an exception to that.

Although Deutsche Regis? three analysts, three sales staff and a sales trader might not seem impressive, in the Philippines it amounts to a major commitment to the market. The few other brokers that still run offices do not come close to that number. Deutsche Regis can afford the expense, since it dominates the equity market with a 19% market share and executes one-third of all foreign trades, enabling it to turn a profit, which it has done year in, year out.

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