Best Domestic Commercial Bank Bank of the Philippine Islands
There really was only one possible winner in this category Bank of the Philippine Islands. BPI finalized two brilliant mergers in April this year - the BPI-Far East Bank merger and the BPI-Ayala Insurance merger.
The merger of BPI and Ayala Insurance Holdings Corporation is the first full integration of a bank and an insurance group in the Philippines and in the region. BPI obtained the approval of the central bank, Bangko Sentral ng Pilipinas to invest up to 100% in insurance companies, higher than the allowable 51%. This new structure positions the bank as one...