BPI Forex Review
Bank of the Philippine Islands (Filipino: Bangko ng Kapuluang Pilipinas, Spanish: Banco de las Islas Filipinas, commonly known as BPI; PSE: BPI) is the oldest bank in the Philippines still in operation and is the country’s fourth largest bank in terms of assets, the country’s second largest bank in terms of market capitalization, and the country’s most profitable bank. It is owned by the Ayala Corporation, the largest conglomerate in the Philippines, and is based in Makati’s Central Business District, on the corner of Ayala Avenue and Paseo de Roxas. As of 2014, it is currently listed in Forbes as the Philippines’ largest bank in terms of market value and overall ranking.
BPI also pioneered rural banking in the Philippines, as its countryside banking operations preceded that of many other banks’ rural banking operations by many years. Today, it maintains a large rural branch network, with some branches dating back to the Spanish or American colonial periods. Its branch network of 831 branches is by far the largest branch network of any bank in the Philippines.
The bank has received several awards from various financial magazines, such as Euromoney the Far Eastern Economic Review, The Banker, Euromoney, Finance Asia, and Global Finance . Its most recent award was from Asiamoney. In April 2010, which the bank was awarded as the Philippines’ Strongest Bank. In 2009, the bank bags 10 awards as the Best Domestic Bank; Best Local Cash Management Bank in the Philippines as voted by Small-Sized Corporations; Best Local Cash Management Bank in the Philippines as voted by Medium-Sized Corporations; Best Local Cash Management Bank in the Philippines as voted by Large-Sized Corporations; Best Domestic Provider of FX Services in the Philippines as voted by Corporates; Best Domestic FX Provider of FX Prime Broking Services in the Philippines as voted by Corporates; Best Domestic FX Provider of Single-Bank Electronic Trading Platform.
BPI Forex Branches
BPI Forex is divided into the following subsidiaries and affiliates:
- BPI Capital Corp.
- BPI Computer Systems Corp.
- BPI Family Savings Bank
- BPI Direct Savings Bank
- BPI Globe BanKO Savings Bank
- BPI Forex Corp.
- BPI Foundation, Inc.
- BPI International Finance Ltd.
- BPI Investment Management. Inc.
- BPI Leasing Corp.
- BPI Operations Mgt. Corp.
- BPI Rental Corp.
- BPI Securities Corp.
- BPI/MS Insurance Corp.
- CityTrust Realty Corp. (inactive)
- CityTrust Securities Corp.(inactive)
- FEB SPEED Remittance (inactive)
- FEB Insurance Brokers, Inc. (inactive)
- FEB Management, Inc. (inactive)
- FEB Stock Brokers Inc. (inactive)
BPI’s main competitors are BDO and Metrobank. However, other competitors include Land Bank of the Philippines, Philippine National Bank, RCBC, DBP, East West Unibank, and Citibank Philippines.
BPI does not compete with its two banking partners: BPI Family Savings Bank and BPI Direct Savings Bank. Instead, they offer different levels of services based on the needs of the potential BPI clients.
BPI Forex Review Conclusion
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