Recent mergers enable BPI to face global challenges

The Bank of the Philippine Islands, the bank that boasts of a long and proud history, continues to live up to its leadership tradition with its recent merger with the Far East Bank and Trust Co. (FEBTC) and the Ayala Insurance Holdings (AIH).

These strategic consolidation moves will enable BPI to face the challenges of global competition and prepare it to be a major market player in the years ahead.

In its merger with FEBTC, BPI remains the surviving entity and will carry the same corporate name. As a result of this merger, BPI has become the country's largest bank and one of the top 10 in the region.

On the other hand, its merger with AIH, referred to as "bancassurance," results in the first-ever integration of a bank and a major insurance group in the country. BPI is also the surviving entity under this merger agreement.

BPI, the first commercial bank in the country and in Southeast Asia, is also the country's biggest in terms of assets, loans, deposits and capital. With its size and business strength, BPI can capture even greater market share and improve profitability.

BPI has now become the dominant market player in the trust/asset management business. In terms of business lines and market segments, it has also become stronger particularly in both the corporate and has also become stronger particularly in both the corporate and consumer/retail segments.

With BPI's extensive network of over 680 branches nationwide, the bank aims to boost the savings potentials of its combined customer base with AIH by cross-selling bank and insurance-linked services.

Bancassurance is a groundbreaking innovation which brings the efficiency of BPI's almost 150 years of banking experience. It also consolidates the bank's position as one of the country's lending providers of financial services.

These new business initiatives solidify the competitive position of BPI in today's emerging global environment.