ING Philippines has been recognised for Excellence in Foreign Exchange (FX) Solutions and Market Innovation at the 2025 Asian Banking & Finance Wholesale Banking Awards, underscoring the bank’s leadership in delivering sophisticated FX strategies tailored to the Philippine market.
Organised annually since 2006, the Asian Banking & Finance Awards celebrate financial institutions that demonstrate outstanding performance, innovation, and client impact across Asia’s dynamic banking landscape.
Jun Palanca, country manager for ING Philippines, said: “For over 30 years, ING has been a trusted financial partner to Philippine corporates and institutions. This recognition highlights the value we bring to clients seeking tailored FX solutions that align with their business strategies — whether it’s managing long-term currency risk or navigating volatile markets. Our ability to deliver bespoke, end-to-end solutions, grounded in a deep sector expertise and a nuanced understanding of the local landscape.”
ING in the Philippines: Three decades of market leadership
ING Philippines has maintained a strong presence in the Philippines for over 30 years, becoming one of the first foreign institutions to receive a universal banking license in 1996. Despite operating without a retail footprint, ING re-entered the top 12 FX banks in the country in February 2024, reinforcing its role as a leading player in the wholesale FX market.
In a market where daily spot FX volumes reach approximately USD 1 billion and forwards USD 500 million, ING Philippines provides a full spectrum of FX solutions — from spot and forward transactions to structured products and long-tenor cross-currency swaps. Its ability to provide onshore liquidity and advanced instruments has been particularly valuable to clients navigating complex currency exposures.
Innovation and sector expertise
ING’s FX leadership, grounded in its deep understanding of sector-specific challenges and investment strategies. Since 2010, the bank has supported Philippine insurers with products like Equity Linked Notes (ELNs) and Credit Linked Notes (CLNs) to address their evolving portfolio needs, with FX solutions playing a pivotal role in both structuring and hedging.
Across sectors including energy and infrastructure, ING combines financial markets expertise with deep industry knowledge to deliver integrated FX solutions. Further enhanced by its digital trading platforms, risk management tools, and global network — offering clients access to liquidity and insight both locally and internationally.
ING’s win in the Philippines forms part of a broader regional recognition at this year’s awards, underscoring the strength of its Asia Pacific franchise. ING Korea and ING Taiwan named Korea and Taiwan International Trade Finance Bank of the Year—for the third and second consecutive year consecutively—in acknowledgment of their proven ability to deliver seamless cross-border working capital solutions for South Korean and Taiwanese corporates.