Leading retail financial institutions in the Philippines recognised for achievements in digital innovation, customer experience, and wealth management

UnionBank was named the Best Retail Bank in the Philippines, while its digital arm, UnionDigital, was awarded Best Digital Bank. Metrobank was voted by customers as the Most Recommended Retail Bank under the BankQuality awards. Meanwhile, Bank of the Philippine Islands’ Gold segment was hailed as the Best Wealth Management Bank in the country at The Asian Banker Philippine Awards 2024, held at Shangri-La The Fort, Manila on 26 September.

UnionBank of the Philippines was acknowledged as the Best Retail Bank for its digital innovation, strong retail partnerships, and seamless migration strategies. Leveraging its advanced digital platform, UnionBank became the first bank in the Philippines to run workloads on AWS Local Zones. Its cloud-native architecture and mobile app enhanced the customer experience, reinforcing its market leadership.

UnionDigital Bank was awarded Best Digital Bank for its significant balance sheet expansion and achieving profitability through technology and the financial data of its parent company, UnionBank. UnionDigital formed strategic partnerships with 14 subsidiaries of parent conglomerate Aboitiz Group to streamline underwriting and improve loan approvals. It also collaborated with health and wellness platform mWell to integrate its banking services.

Metrobank was voted as the Most Recommended Retail Bank for the first time, earning a 65% BankQuality Score. Customers praised its reliable service, competitive loan products, and responsive customer support. Metrobank is also valued for its secure services, extensive branch and ATM network, and hassle-free banking experience.

Bank of the Philippine Islands’ Gold segment was recognised as the Best Wealth Management Bank due to its robust growth and strategic initiatives. The bank’s targeted acquisition strategies, which leverage its institutional banking network and advanced customer relationship management (CRM) tools like Salesforce, have significantly boosted client engagement and growth in the affluent and high-net-worth segments.

Other notable awardees include Maya Bank, Best Digital Savings Product and Best Digital SME Lending; Chinabank’s HomePlus and Destinations Mastercard, Best Home Loan Financing and Best Credit Card for Travellers, respectively; EastWest Bank’s Cash Rewards Visa Platinum Card, Best Credit Card for Cashback; Security Bank’s Wave Card, Best New Product Launch Strategy; and RCBC’s ‘Branch of Today’, Best Branch Banking Initiative.

The Philippine Excellence in Retail Finance Awards is one of the most established benchmarking programmes in retail finance, recognising exceptional innovation, leadership, management, and performance in the sector. The programme comprises 11 awards across three categories: Retail Finance Institutional Awards; BankQuality™ Consumer Survey and Rankings of Retail Banks; and Retail Finance Product, Digital, and Frictionless Awards.

For more information about the Philippine Awards Programme, please visit.