BPI, Security Bank top forex honors

The Bank of the Philippine Islands (BPI) and Security BankCorp. (Security Bank) have garnered the top slots in Asiamoney’s published foreign exchange (FX) Poll in its September issue.

The results, which form part of a regular series of polls covering various aspects of financial services, ranked several local financial institutions across various categories based on their ability to provide foreign currency services.

Poll votes, collected from treasurers, finance directors and managers of local and multinational companies in the Philippines, focused on four categories namely: FX services, FX sales, single electronic trading platform, and innovative FX products and structured ideas.

BPI and Security Bank consistently placed in the top ranks in the four categories mentioned. In the "Best in FX Sales" category, BPI garnered the top slot followed by Security Bank in second place.

The categories for "Best Single Electronic Trading Platform" and "Best for Innovative FX Products and Structured Ideas" showed Security Bank taking on the top ranking followed by BPI.

BPI again took top ranking in the "Best Domestic Provider of FX Services" category with Security Bank placing fourth among the top five.

The other Philippine banks cited among the top five in the FX Polls were: the Metropolitan Bank and Trust Co. (Metrobank), Equitable PCIBank, Banco de Oro Universal Bank, the United Coconut Planters Bank (UCPB), and The Union Bank of the Philippines (Union Bank).

Meanwhile, Security Bank was earlier cited by Asiamoney as the "Best Domestic Provider for Local Currency-Linked Products" in its second Annual Structured Products Poll in survey results released in August.

Asiamoney, a leading financial publication launched in 1989, provides discerning reporting and analyses on the financial and investment markets for capital issuers, borrowers, institutional investors and senior corporate and government monetary decision makers with business interests in the Asia Pacific countries.

These polls, which are conducted regularly, reveal how financial service provides fare against each other in the eyes of their clients as obtained through votes sent in by treasurers, finance directors and managers of local and multinational companies.