this article has multiple issues . please help improve it or discuss these issues on the talk page . learn how and when to remove these template messages this article needs additional citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . may 2015 learn how and when to remove this template message this article includes a list of references but its sources remain unclear because it has insufficient inline citations . please help to improve this article by introducing more precise citations . may 2015 learn how and when to remove this template message this article contains content that is written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . may 2015 learn how and when to remove this template message learn how and when to remove this template message it has been suggested that bpi direct savings bank be merged into this article . discuss proposed since january 2014 . bank of the philippine islands type public traded as pse bpi industry finance founded manila captaincy general of the philippines 1851 headquarters makati philippines key people jaime augusto z bel de ayala ii chairman cezar p. consing president services banking revenue 52 498 million 1 10.8 % 2013 net income 18 017 million 1 25.5 % 2014 total assets 1 450 197 million 1 21.3 % 2014 number of employees 12 355 website www.bpiexpressonline.com bank of the philippine islands filipino bangko ng kapuluang pilipino spanish banco de las islas filipinas commonly known as bpi ; pse bpi is the oldest bank in the philippines still in operation and is the country s third largest bank in terms of assets the country s largest bank in terms of market capitalization and the country s most profitable bank . it is owned by the ayala corporation the largest conglomerate in the philippines and is based in makati s central business district on the corner of ayala avenue and paseo de roxas . as of 2014 it is currently listed in forbes as the philippines largest bank in terms of market value and overall ranking . 2 bpi also pioneered rural banking in the philippines as its countryside banking operations preceded that of many other banks rural banking operations by many years . today it maintains a large rural branch network with some branches dating back to the spanish or american colonial periods . its branch network of 831 branches is by far the largest branch network of any bank in the philippines . the bank has received several awards from various financial magazines such as euromoney the far eastern economic review the banker euromoney finance asia and global finance . its most recent award was from asiamoney . in april 2010 which the bank was awarded as the philippines strongest bank . in 2009 the bank bags 10 awards as the best domestic bank ; best local cash management bank in the philippines as voted by small sized corporations ; best local cash management bank in the philippines as voted by medium sized corporations ; best local cash management bank in the philippines as voted by large sized corporations ; best domestic provider of fx services in the philippines as voted by corporates ; best domestic fx provider of fx prime broking services in the philippines as voted by corporates ; best domestic fx provider of single bank electronic trading platform . contents 1 history 2 subsidiaries and partners 3 ownership 4 competition 5 see also 6 references 7 external links history edit el banco espa ol filipino 10 pesos 1896 bpi was established on august 1 1851 as the el banco espa ol filipino de isabel ii spanish filipino bank of isabel ii named after the queen of spain isabella ii the daughter of king ferdinand vii . the bank was the second philippine bank during the spanish era after a bank was founded by francisco rodriguez a filipino quaker based in london in 1830 . the royal decree establishing the banco espa ol filipino also gave it the power to print philippine currency the first time the philippine peso was printed in the country ; before 1851 a multitude of currencies were used most notably the mexican peso . they were originally called philippine peso fuerte pf or strong pesos . first printed on may 1 1852 they were reedemable at face value for gold or silver mexican coins . the first deposit with the bank was also done on that day by a man named fulgencio barrera . three days later a chinese man named tadian became the first borrowing client of the bank after the bank discounted to him a promissory note amounting to ten thousand pesos fuertes . on september 3 1869 following a revolution which overthrew isabella ii the name was changed to banco espa ol filipino . in january 1892 the bank moved from the royal custom house in intramuros to the new business district of binondo after it found out that intramuros was becoming economically inactive . it moved to 4 plaza cervantes which was at that time a prime property owned by the dominican friars . the first branch of banco espa ol filipino outside manila was opened in iloilo city on march 15 1897 . however the idea to set up branches outside manila was formulated as far back as the 1850s with the first branch planned to be opened in bacolor the capital of pampanga at the time . but by then iloilo and other provinces in panay became more productive than pampanga in the sugar industry hence the move to open the first branch in iloilo which was then the queen city of the south . following the cession of the philippines to the united states following the signing of the 1898 treaty of paris the bank changed from a spanish institution to a philippine one . on january 1 1912 a decision by the shareholders of banco espa ol filipino changed the name to the present bank of the philippine islands bpi or banco de las islas filipinas in spanish . the basis for the name change was republic act no. 1790 passed on october 12 1907 which permitted the bank to change its name . the bank was also privatized during the american colonial period . following world war ii bpi was actively involved in the post war reconstruction of the philippines . in 1949 with the establishment of the central bank of the philippines now the bangko sentral ng pilipinas bpi lost the right to issue philippine pesos a right it had since the spanish colonial era and during the american colonial period . in december 31 1969 ayala corporation which had been affiliated with bpi since its establishment in 1851 became the dominant shareholder of bpi and eventually made bpi into the flagship of ayala s financial entities . 3 starting in the 1970s bpi has been involved with many mergers and acquisitions . the first merger occurred in 1974 with bpi s acquisition of the people s bank and trust company . major notable acquisitions include citytrust banking corp in 1996 and far east bank and trust company on april 7 2000 . the merger with far east bank is arguably one of the largest in the philippine banking history . in 1982 bpi became a universal bank and in 2000 became the philippines first bank assurance firm being the first philippine bank to offer insurance services after acquiring the insurance companies of the ayala corporation the parent company of the ayala corporation . within that year bpi also founded the bpi direct savings bank an internet bank which launched bpi into 21st century banking . on february 14 1986 bpi led the foundation of its own interbank network expressnet . however the latter was eventually absorbed by rival network bancnet . in october 2015 bpi launched the make the best things happen campaign which empowers filipinos to make the best of their life happen by providing innovative and accessible financial solutions . 4 subsidiaries and partners edit bpi branch at escolta manila which occupies the don roman santos building former head office of prudential bank . bpi family savings bank branch at 31st street in bonifacio global city taguig city . bpi is divided into the following subsidiaries and affiliates bpi capital corp. bpi computer systems corp. bpi family savings bank bpi direct savings bank bpi globe banko savings bank bpi forex corp. bpi foundation inc. bpi international finance ltd. bpi investment management . inc. bpi leasing corp. bpi operations mgt . corp. bpi rental corp. bpi securities corp. bpi ms insurance corp. citytrust realty corp. inactive citytrust securities corp. inactive feb speed remittance inactive feb insurance brokers inc. inactive feb management inc. inactive feb stock brokers inc. inactive ownership edit pcd nominee corporation 33.7213 % ayala corporation 21.8426 % ayala dbs holdings 21.3092 % ac international finance limited 8.6965 % roman catholic archdiocese of manila 8.4655 % michigan holdings 2.0653 % 5 while philippine central depository is listed a major shareholder it is more of a trustee nominee for all shares lodged in the pcd system rather than a single owner shareholder includes dbs bank voting powers are under the authority of the archbishop of manila competition edit bpi s main competitors are bdo and metrobank . however other competitors include land bank of the philippines philippine national bank rcbc dbp east west unibank and citibank philippines . bpi does not compete with its two banking partners bpi family savings bank and bpi direct savings bank . instead they offer different levels of services based on the needs of the potential bpi client s . see also edit jaime augusto zobel de ayala ii chairman ariston estrada jr. former director ayala corporation bancnet the bpi atm network list of philippine companies list of banks in the philippines references edit a b c http edge.pse.com.ph companypage financial reports view.do cmpy id 234 http www.forbes.com global2000 page 1 sort 6 direction asc search filter all % 20industries filter philippines filter all % 20states http www.ayala180.com the masterplan.php http www.ruthdelacruz.com 2015 11 make best things happen with bpi.html 100 top stockholders as of september 30 2013 . pse . retrieved 2013 10 18 . external links edit wikimedia commons has media related to bank of the philippine islands . bank of the philippine islands v t e ayala corporation ayala land bank of the philippine islands globe telecom integrated micro electronics inc. manila water v t e pse composite index companies of the philippines ayala aboitiz equity ventures alliance global ayala land aboitiz power bdo bloomberry resorts bpi dmci edc emperador first gen globe gt capital ictsi jollibee jg summit lt group metrobank megaworld meralco metro pacific petron pldt robinsons land semirara mining sm investments san miguel sm prime universal robina v t e banks in the philippines bangko sentral ng pilipinas universal banks asia united bank bdo bpi chinabank eastwest bank metrobank pnb philtrust psbank rcbc security bank unionbank ucpb government banks al amanah islamic investment bank of the philippines dbp landbank postalbank commercial banks bank of commerce chinatrust citibank hsbc maybank pbcom robinsons bank standard chartered bank veterans bank thrift banks bpi direct savings bank china bank savings citystate equicom philippine business bank plantersbank security bank savings other banks cooperative banks rural banks defunct allied bank merged with pnb banco filipino equitable pci bank merged with bdo v t e roman catholic archdiocese of manila archidioecesis manilensis territories manila makati mandaluyong pasay san juan ordinaries domingo de salazar ignacio santib ez miguel de benavides francisco de la cuesta manuel rojo del r o y vieyra jeremiah james harty michael j. o doherty gabriel reyes rufino santos jaime sin gaudencio rosales luis antonio tagle cathedrals immaculate conception san miguel