Banking Briefs

➜ BPI offers virtual coin program
THE Bank of the Philippine Islands (BPI) announced it has launched a digital-deposit account product. “What makes this BPI product unique is it provides an easier, more fun way of saving through a gamified rewards program that can benefit more people from all walks of life,” said BPI Deposits Head Carmina T. Marquez. The lender said the program “rewards depositors with virtual game coins as they save.” These coins, the bank said, can be used to win prizes. We want to make saving more affordable, more convenient, more fun and more rewarding,” said Maria Cristina L. Go, BPI Consumer Banking Head.

➜ AUB bags CFA award
Asia United Bank (AUB) Corp. announced it sustained its 6-year winning streak as the “Best Managed Fund” in the “Dollar Medium-Term Bond Fund” category at the CFA Society Philippines’ 2022 Best Managed Fund Awards where a total of 82 funds from 16 Investment Houses and trust institutions in the country joined. AUB Senior Vice President and Head of Trust Andrew A. Chua said the award “is a solid validation to our fund management capabilities.” The AUB Gold Dollar Fund offers retail investors access to the US dollar bond market normally reserved for foreigners and high net-worth investors. It invests in a diversified portfolio of fixed income securities and offers a rate of return equivalent to the rolling yield of the 5-year US Treasury Notes, net of fees.

➜ Security Bank honored by CFA Society PHL
SECURITY Bank Corp. announced that the Chartered Financial Analyst (CFA) Society Philippines once again recognized its peso bond fund as the “Best Managed Fund” for the long-term Peso Bond Fund Category. The lender said its peso bond fund was acknowledged “for being able to deliver the highest risk-adjusted returns compared to other funds [both UITFs and Mutual Funds] in the same long-term peso bond fund category.” The goal of the CFA Institute and the CFA Society of the Philippines in giving the fund of the year awards is to put investors first. We put investors first by awarding funds that provided the best risk-based returns on a consistent basis over a 5-year period,” CFA Society Philippines President and Chairman Robert B. Ramos was quoted in a statement as saying.