The Bank of the Philippine Islands (BPI) is not in any way affected by its current ranking as the country’s third largest bank, which is a notch down from its previous second place ranking.
This according to BPI treasurer Antonio V. Paner saying “we are still number one in a lot of things.”
BPI is now considered as number three in terms of asset size, next to Metrobank, and Banco De Oro (BDO).
BPI’s long-standing position as the second largest banking institution in the Philippines, in terms of assets, had been snatched by Henry-Sy led Banco De Oro, fueled by the latter’s recent acquisition of PCI-Equitable Bank.
According to Paner, ranking in terms of asset size, is not a primary consideration of consumers and depositors. Besides, he said BPI is confident of its stronghold in the market, especially now that the bank is gearing towards strengthening its customer service and forge closer relationship with clients.
“We are only P50 billion away from the second largest bank,” said Paner, adding that BPI could easily boost its asset size, if it wants to, but as of this time focus is directed towards “romancing” with the clients, rather than rattling off to regain the asset-size ranking.
“We are not affected at all by ranking [development]. We still have our strength. We are number one in so many things,” he stressed.
In fact, he said BPI was able to increase its asset size last year, without buying a bank.
As of first semester of this year, BPI’s total resources reached P626 billion, up five percent over the previous year, as lending growth perked up remarkably.
He, however said that the Ayala-led bank is continuously on the lookout for bank acquisition opportunities that will give more value to the company.
He said that the bank’s asset size grow tremendously via acquisition, but as of this time, BPI is not yet on its serious mode in considering to merge or acquire a new bank after it completed its acquisition of Prudential Bank.
Paner said BPI’s Small and Medium Enterprise (SMEs) portfolio was boosted due to the strength of Prudential Bank to the SME market.
If there is a need for BPI to buy-out or merge with another bank, he said it should be able to provide sound value added to the bank’s overall operation.
Meanwhile, BPI’s second quarter report indicated that despite the increasingly difficult business environment, customer flows remained strong even as prudence dictated continued vigilance in risk management.
BPI’s revenues in the first semester of 2008, improved by 19 percent leading second quarter net income of P2.3 billion to exceed the first quarter net income of P1.5 billion.
Recently, BPI won its third award as the top commercial bank of remittances with a 22 percent volume growth and a 23 percent market share in 2007, a feat that elevated the bank to the Bangko Sentral Ng Pilipinas’ (BSP) Hall of Fame.