LIST: Forbes’ best Philippine banks in 2024

This is AI generated summarization, which may have errors. For context, always refer to the full article.MANILA, Philippines – From being named the second-best bank in the Philippines in 2023, Philippine National Bank rose to claim the top spot in 2024.is far from being the biggest bank in the country or even the biggest in Forbes’ ranking. It is, however, the largest and oldest among the top five in the list.Aboitiz-owned UBP came in as the second top bank in the list.

“Faced with a confluence of shifting factors – including tech advancements, generative AI, high interest rates, increased institutional oversight, and evolving customer expectations – banks are being called on to adjust their business and operating models,” Forbes said, which could explain why young, digital banks have ranked highly.

To determine the world’s best banks, Forbes partnered with market research company Statista. More than 49,000 individuals were surveyed across 33 countries and in 17 languages. Participants were asked to rate their overall satisfaction with each bank, along with scoring the banks based on five criteria:Lance Spencer Yu is a multimedia reporter who covers the transportation, tourism, infrastructure, finance, agriculture, and corporate sectors, as well as macroeconomic issues.

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