BPI, two others get top awards

The Bank of the Philippine Islands (BPI) was named the most outstanding participating financial institution (PFI) for its all around performance by the Development Bank of the Philippines (DBP).

Equitable PCI Bank in turn was named most outstanding PFI for the JBIC facilities for largescale and shipping industries.

The Metropolitan Bank and Trust Corp. (Metrobank) was cited for topping utilization of Industrial Guarantee and Loan Fund (IGLF) funding. In fact, it has already been elevated to the hall of fame in 1997.

Every year, the government financial institution recognizes its bank partners in extending development loans.

"The annual appreciation program aims to give recognition to outstanding banks and financial institutions that have significantly contributed in the successful mobilization and dispersal of medium and long-term funds to industrial enterprises," DBP president and chief executive officer Reynaldo G. David said during the awarding ceremonies Friday night.

He added that DBP continuous to tap various international sources for development funds which are made available to PFIs for relending to sectors towards economic growth.

BPI also received the most outstanding PFI award under the IGLF commercial bank category, and the JBIC facility for environmental