Bank of the Philippine Islands (Spanish: Banco de las Islas Filipinas, commonly known as BPI; PSE: BPI) is the oldest bank in the Philippines still in operation and is the country's third largest bank in terms of assets, the country's largest bank in terms of market capitalization, and the country's most profitable bank. It is owned by the Ayala Corporation - the largest conglomerate in the Philippines, and is based in Makati's Central Business District, on the corner of Ayala Avenue and Paseo de Roxas.
BPI is also the oldest bank in Southeast Asia and has a long and distinguished history that spans over a century. It has either influenced or has been influenced by many nations, including parts of the former Spanish Empire, especially Mexico, and the United States. While it is considered by many as an old institution, BPI is trying to promote itself as a dynamic institution that caters to its various clients, which hail from various sectors of Philippine society.
BPI also pioneered rural banking in the Philippines, as its countryside banking operations preceded that of many other banks' rural banking operations by many years. Today, it maintains a large rural branch network, with some branches dating back to the Spanish or American colonial periods. Its branch network of 831 branches is by far the largest branch network of any bank in the Philippines.
The bank has received several awards from various financial magazines, such as Euromoney the Far Eastern Economic Review, The Banker, Euromoney, Finance Asia, and Global Finance . Its most recent award was from Asiamoney. In April 2010, which the bank was awarded as the Philippines' Strongest Bank. In 2009, the bank bags 10 awards as the Best Domestic Bank; Best Local Cash Management Bank in the Philippines as voted by Small-Sized Corporations; Best Local Cash Management Bank in the Philippines as voted by Medium-Sized Corporations; Best Local Cash Management Bank in the Philippines as voted by Large-Sized Corporations; Best Domestic Provider of FX Services in the Philippines as voted by Corporates; Best Domestic FX Provider of FX Prime Broking Services in the Philippines as voted by Corporates; Best Domestic FX Provider of Single-Bank Electronic Trading Platform.
Read more about Bank Of The Philippine Islands: History, Subsidiaries and Affiliates, Ownership, Competition, Awards, Firsts
Famous quotes containing the words bank of, bank and/or islands:
“That strain again, it had a dying fall;
O, it came o’er my ear like the sweet sound
That breathes upon a bank of violets,
Stealing and giving odor. Enough, no more,
‘Tis not so sweet now as it was before.”
—William Shakespeare (1564–1616)
“I have passed down the river before sunrise on a summer morning, between fields of lilies still shut in sleep; and when, at length, the flakes of sunlight from over the bank fell on the surface of the water, whole fields of white blossoms seemed to flash open before me, as I floated along, like the unfolding of a banner, so sensible is this flower to the influence of the sun’s rays.”
—Henry David Thoreau (1817–1862)
“we are so many
and many within themselves
travel to far islands but no one
asks for their story....”
—Denise Levertov (b. 1923)