Philippines

Bank of the Philippine Islands has been a corporate social responsibility leader for decades. Its BPI Foundation, which celebrated its 40th birthday in May this year, continues to channel capital to a huge number of worthy causes. But it is over the last three years that the lender has really taken its CSR profile to the next level, helping to improve social cohesion and environmental protection, aligning itself with the UN’s Sustainable Development Goals and the national development agenda, and driving domestic innovation and financial inclusion.

Rizal Commercial Banking Corporation (RCBC) has been honing its small and medium-sized enterprise operations for years, creating tailored services that cater to all types of SMEs, whatever their size, industry, and ambition. Rizal Microbank meets the needs of micro-sized SMEs, which are estimated to comprise 99.6% of all registered onshore businesses, while its eWMN Programme champions female-owned corporates, offering loans, business education and training, as well as organising networking forums and seminars.

Edwin Bautista, president and chief executive of Union Bank of the Philippines, has serious digital ambitions. His financial institution is the country’s standout digital bank, and a worthy winner of this award. But this is just the start. A trailblazer in artificial intelligence and robotic process automation, Union Bank is using blockchain to reach rural lenders, partnering with ConsenSys and Microsoft Azure to develop a blockchain-based interbank switch.

Private banking in the Philippines is about to get a whole lot bigger. For decades, many high net-worth Filipinos were served offshore, in cities such as Singapore and Hong Kong. But that’s changing. Credit Suisse, the best private bank and high-end wealth manager, is expanding its footprint in the country.

Citi again emerges as the clear winner of this award. Its roots burrow deep into the superstructure of an economy it has served with distinction since 1902.

For the second year in a row, BPI Capital, the investment banking arm of Bank of the Philippine Islands, wins plaudits. Easily the most powerful onshore investment bank, it took first place in equity capital markets in the 12 months to the end of May, completing five deals worth $460 million and more than 20% of the market, according to Dealogic.

BDO Unibank is the dominant force in Philippines banking, accounting for 18% of industry resources, 22% of gross customer loans, 19% of deposits and 34% of total assets under management.

Philippines