Bank of the Philippine Islands, known as BPI, is the oldest currently operating bank in the Philippines and its most profitable. It is owned by the Ayala Corporation, the largest conglomerate in the Philippines.
BPI was founded in 1851, as El Banco Español Filipino de Isabel II, and was the second bank founded during the Philippines’ Spanish era. The decree that established the bank also allowed it to print Philippine currency, the first time the Philippine peso was printed in the country.
BPI is divided into some 14 subsidiaries and affiliates, with several others that are currently inactive. The bank is well known for pioneering rural banking services in the country, and still maintains a significant network of rural branches dating back to colonial eras.
BPI is headquartered in Makati.
BPI Products and Services
BPI operates commercial banking services in three primary segments; corporate banking, consumer banking and investment banking.
Consumer banking customers have access to a wide portfolio of financial services including current accounts, lending (including mortgages, loans and credit cards), deposits and remittance.
BPI’s corporate banking arm deals with a range of corporations and institutions, from high-end, high-value corporations to smaller middle-market businesses. Services available include business lending, trade, cash management and leasing. Available investment banking services include corporate finance, trading and investment, fiduciary services, asset management, securities distribution and trusts.
BPI also offers a range of services aimed at helping Filipinos living abroad manage their money; those customers can send remittances direct to beneficiaries’ accounts, or their own savings account and monitor investments online.
Security at Bank of the Philippine Islands
Bank of the Philippine Islands is regulated by Bangko Sentral ng Pilipinas. Customers with any concern about the status or security of their account, or communications they have received from the bank, can contact the customer service team directly over the phone or using an online chat service.