BPI bags FX provider honors

The Bank of the Philippine Islands (BPI) has bagged the top award for domestic foreign exchange (FX) provider from Asiamoney, a monthly capital markets publication in the region.

The results, published in the magazine’s September issue, saw BPI emerge as the overall Best Domestic FX provider, garnering the top spot in all categories: best single electronic trading platform; best for innovative FX products and structured ideas; and best for FX sales.

The publication also accorded BPI with the award for "Best Local Cash Management Bank in the Philippines for 2006."

The Ayala-led commercial bank also received awards from various institutions.

It was awarded the banking leader in remittance by the Bangko Sentral ng Pilipinas (BSP) and "Best Bank in the Philippines" by Euromoney in recognition of excellence in managing cash and innovative management solutions to financial problems.

Other awards include: "Best Retail Bank in the Philippines" by the Asian Banker Excellence in Retail Financial Services Award; "Triple A Best Cash Management Bank for the Philippines" by The Asset; "the Most Trusted Brand in the Bank and Investment Fund Company" categories of the 8th Annual Reader’s Digest Asia Trusted Brands Survey; and the five awards given by the Development Bank of the Philippines: "the Most Outstanding Participating Financial Institution" under three out of four priority areas/sectors for development: Infrastructure and Logistics Development Award, Social services Development Award, Environmental Development Award; and Hall of Famer for two categories: the Industrial Guarantee and Loan Fund program and the other for All Around Performance for the bank’s consistent outstanding performance under these categories in the last five years.