HSBC
Much of the private banking that happens in relation to the Philippines happens far from its shores. Of course, a host of local lenders tout their private banking credentials and many do indeed offer excellent services targeted at wealthier customers. The list starts with the likes of BDO Unibank and Bank of the Philippine Islands, but also includes myriad mid-sized lenders offering quality services to higher net-worth and mass-affluent customers. Both BDO Private Bank and BPI Private Banking have won awards in this category down the years – and rightly so.
But talk to private banking customers on the ground, including executives from leading corporates and lenders, and they are happy to sing the praises of HSBC.
The bank has never lost sight of the importance of this market, buoyed as it is by low inflation, a high growth rate and, under the aegis of the current president, a macro and financial agenda that could finally give the economy the clarity and the momentum it needs.
With growth comes rising salaries; that in turn leads to a need for the kind of world-class service, locally targeted but global in reach, that HSBC Private Banking always provides.