Bank of the Philippine Islands
BEST EQUITY HOUSE
BEST DEBT HOUSE
BEST M&A HOUSE
The Bank of the Philippine Islands wins the best bank in the Philippines award again after another solid financial performance. BPI stands out in a market comprising largely weak and poorly managed domestic banks for its strong financial position, product innovation and corporate governance leadership. It is also the country's largest banking group by any measure, with a full range of retail and corporate banking services, including extensive online banking facilities for all customers.
In the year ended December 2004, BPI reported net income of $121 million from total assets of $8.4 billion. BPI's net interest margin was a healthy 3.83% and the bank enjoyed a return on average assets of 1.53%, leading to a respectable return on equity of 12.6%. The only real criticism of the bank's numbers is that the cost-to-income ratio, at 53.5%, is on the high side, although not when compared with its domestic peer group.
BPI's strong financial performance has continued into 2005. Return on equity for the first quarter to March improved to 14.9%,