For the second year in a row, ING Bank was named “Best Investment Bank in the Philippines” in the Euromoney Awards for Excellence 2010.

The awards were presented last July 15 in Hong Kong where Asia’s best in banking gathers each year. Now in its 19th consecutive year, the Euromoney awards set the standard for banking and capital market excellence among the top-ranking financial institutions around the world.

The top financial institutions were judged on criteria that include: volume of business transacted, innovation and leadership, and data from local stock exchanges and organizations. The jury looked at ING’s achievements and at new developments from 1 April 2009 to 31 March 2010.

"The award marks another milestone in ING Bank’s commitment to respond to the increasingly complex needs of its clients amidst a growing capital market," said Consuelo Garcia, ING Bank’s Country Manager in the Philippines.

She said the award comes at a time when the Philippines is being celebrated as the “darling of Asia” when it comes to its robust debt market.

In 2009, the country’s volume of debt transactions exceeded P260 billion as both private and public corporations raised fresh capital from the domestic market to take advantage of stable interest rates and excess liquidity.