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BPI (Bank of the Philippine Islands) Principal Subsidiaries...

BPI is the third largest commercial bank in the country in terms of total assets but has the highest market capitalization among listed banks. It has a significant market share in deposits, lending, and asset management and trust business. It is recognized as one of the top commercial banks in overseas Filipino (OF) remittances and enjoys a significant presence in the finance and operating lease business, government securities dealership, securities distribution and foreign exchange business. BPI is a recognized leader in electronic banking, having introduced most of the firsts in the industry, such as the automated teller machines (ATMs), a point-of-sale debit system, kiosk banking, phone banking, internet banking and mobile banking.
Principal Subsidiaries. The bank's principal subsidiaries are:

(1) BPI Family Savings Bank, Inc. (BFSB) serves as BPI's primary vehicle for retail deposits, housing loans and auto finance. It has been in the business since 1985.

(2) BPI Capital Corporation is an investment house focused on corporate finance and the
securities distribution business. It began operations as an investment house in December 1994. It merged with FEB Investments Inc. on December 27, 2002. It wholly owns BPI Securities Corporation, a stock brokerage company.

(3) BPI Leasing Corporation is a non-bank financial institution (NBFI) registered with SEC to generally carry on the business of a financing company under the Financing Company Act. It was originally established as Makati Leasing and Finance Corporation in 1970. It merged with FEB Leasing & Finance Corporation on February 20, 2001. It wholly owns BPI Rental Corporation which offers operating leases.

(4) BPI Direct Savings Bank is a savings bank that provides internet and mobile banking services to its customers. It started operating as such on February 17, 2000 upon approval by the Bangko Sentral ng Pilipinas.

(5) BPI International Finance Limited, Hong Kong is a deposit taking company in Hong Kong. It was originally established in August 1974.

(6) BPI Express Remittance Corp. (U.S.A) is a remittance center for overseas Filipino and was incorporated on September 24, 1990.

(7) Bank of the Philippine Islands (Europe) Plc was granted a UK banking license by the Financial Services Authority (FSA) on April 26, 2007. It was officially opened to the public on October 1, 2007. In July 2008, BPI Europe was permitted by the FSA to carry out cross-border services in other EEA Member States.

(8) Ayala Plans, Inc. is BPI's wholly owned pre-need insurance company acquired through the merger with Ayala Insurance Holdings Corp (AIHC) in April 2000.

(9) BPI/MS Insurance Corporation is a non-life insurance company formed through a merger of FGU Insurance Corporation and FEB Mitsui Marine Insurance Company on January 7, 2002. FGU and FEB Mitsui were acquired by BPI through its merger with AIHC and FEBTC in April 2000.

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"BPI (Bank of the Philippine Islands) Principal Subsidiaries" was written by Mary under the Banking category. It has been read 3875 times and generated 0 comments. The article was created on and updated on 23 March 2013.
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