BSP awards BPI for remittance services, children’s savings campaign
Bank of the Philippine Islands (BPI) accepts two awards from the Bangko Sentral ng Pilipinas (BSP): "Outstanding PhilPaSS REMIT Participant" award and the "Outstanding Partner for Children's Savings Mobilization Campaign" award. From left: Antonio S. Abacan, Jr., Monetary Board Member and Chairman of the Board of Judges; Manuel C. Tagaza, BPI Senior Vice President and Head of Remittance and Funds Transfer Group; Simon R. Paterno, BPI Executive Vice President and Head of Financial Products and Alternative Channels; Melinda V. Dulay, BPI Vice President and Head of Inward Remittance; Maria Almasara Cyd N. Tuaño-Amador, Deputy Governor, BSP Corporate Services Sector.
The Bangko Sentral ng Pilipinas (BSP) recently recognized Bank of the Philippine Islands (BPI) for its outstanding remittance services and successful campaign to encourage more children to save.
During the 15th Awards Ceremony and Appreciation Lunch for BSP Stakeholders in the National Capital Region, BPI received the "Outstanding PhilPaSS REMIT Participant" award and the "Outstanding Partner for Children's Savings Mobilization Campaign" award.
BPI aims to be the most inclusive bank in the country, and these awards for our remittance services and campaigns for children's savings validate BPI's continuing efforts to achieve inclusiveness. With only a quarter of the Philippine population having bank accounts, BPI believes financial inclusion is important for national development.
"We will help unbanked and underbanked Filipinos access the financial system with innovative solutions. The positive financial health of our countrymen will definitely contribute to our country's economic health," said Simon Paterno, BPI Head of Financial Products and Alternative Channels.
The "Outstanding PhilPaSS REMIT Participant" award is given to the PhilPaSS (Philippine Payments and Settlements System) REMIT participant "that exhibited strong support and reliance in transmitting batches of remittance transactions to the BSP gateway server."
"Such support helped ensure safer, faster crediting to beneficiary accounts and reduced back-end processing fees," said BSP in a statement.
The "Outstanding Partner for Children's Savings Mobilization Campaign" award was given to BPI for "encouraging children to open and maintain bank accounts." BPI opened the most number of accounts for the year.
BPI was also a finalist in several other categories: Cross Border Transactions and Related Surveys (Outstanding Respondent for Coordinated Portfolio Investment Survey), Overseas Filipino Remittances (Commercial Bank that Generated the Largest Overseas Filipino Remittances), Clean Note Policy Campaign (Outstanding Partner Bank - Universal and Commercial Banks).
ABOUT BANK OF THE PHILIPPINE ISLANDS
The 167-year-old Bank of the Philippine Islands is the first bank in the Philippines and Southeast Asia. We are a universal bank with an expanded banking license. We provide diverse financial services that include deposits, cash management, asset management, securities brokerage, foreign exchange and capital markets investments, bancassurance, corporate lending, leasing, and investment banking. BPI has significant financial strength, with strong Tier 1 capital adequacy ratios and profitability, underpinned by a strong risk management regime. BPI is rated investment-grade by international credit ratings agencies.