Australia I China I Hong Kong I India I Indonesia I Japan I Malaysia I Mongolia I Pakistan I Philippines I Singapore I Taiwan I Thailand
|BEST BANK: Bank of the Philippine Islands
BEST EQUITY HOUSE: Not awarded
BEST DEBT HOUSE: Deutsche Bank
BEST M&A HOUSE: Not awarded
The Bank of the Philippine Islands, the country’s second largest bank with assets of $8.4 billion, is setting the standard in the Philippines. In the past financial year BPI continued to improve on its impressive financial performance, with a return on average equity of 12.6%, one of the highest in the sector. Net interest margin was 3.8%, return on assets 1.5% and the bank’s cost-income ratio was one of the country’s lowest at 53.5%. Financial strength improved also with the bank’s capital adequacy ratio standing at 16.3% at the end of the first quarter 2006.
With more than 700 branches, 1,100 ATMs and 3 million accounts, BPI offers a full banking service in corporate, consumer and commercial banking. In 2005, BPI acquired Prudential Bank, a small retail bank that has already been assimilated into the BPI network. The Philippines remains heavily over-banked and the government is keen to push consolidation.