ING awarded Philippines International Green Financing Bank of the Year

Metro Manila, Philippines, 6 July 2026 – ING has been named Philippines International Green Financing Bank of the Year at the 2026 Asian Banking & Finance Wholesale Banking Awards, recognising its leading role in advancing sustainable finance in the Philippines.

Organised annually, the Asian Banking & Finance Awards recognise financial institutions that demonstrate outstanding performance, innovation, and client impact across Asia.

This award reflects ING’s strong execution track record, as well as its role in shaping the Philippine sustainable finance ecosystem.

Leading the Philippine sustainable finance market

ING has played a central role in the Philippine sustainable finance market, acting as arranger for 36 per cent of green, social and sustainable bond volumes from non-sovereign issuers.

These results stand out in a year where the overall market expanded from USD 6.7 billion to USD 10.9 billion, reflecting accelerating demand for ESG financing solutions.

ING also served as sole sustainability coordinator on the majority of these transactions, reinforcing its role in structuring and executing sustainability-linked issuances in the market.

Delivering landmark transactions at scale

ING’s leadership is underpinned by its role in several of the Philippines’ largest and most complex ESG-labelled bond issuances.

Most notably, ING acted as sole sustainability coordinator and sole arranger for BDO Unibank Inc’s PHP 115 billion ASEAN Sustainability Bond—the largest corporate sustainability bond ever issued in the Philippines and the largest peso-denominated bond listed on PDEx.

The transaction was 23 times oversubscribed against its initial PHP 5 billion offer, with proceeds available to finance eligible assets across 29 categories spanning green, blue, social, gender, and sustainability themes under BDO’s Sustainable Finance Framework.

ING also played key roles in other landmark deals:
 

• Philippine National Bank (PNB) – Joint lead arranger and bookrunner for a PHP 15.7 billion ASEAN Sustainability Bond. This dual-tranche issuance was scaled up from an initial PHP 3 billion announced issue size following more than 5.2 times oversubscription. The bonds are aligned with ICMA principles, carry the ASEAN Sustainability Bond label, and are listed on PDEx. ING acted as lead on sustainability governance, structuring, and documentation.

• RCBC – Joint lead manager and bookrunner for a USD 350 million sustainability bond, a five-year issuance that attracted demand exceeding USD 1 billion from over 77 accounts and closed 2.9 times oversubscribed, reflecting strong global investor appetite for Philippine ESG assets.

• BPI – Joint lead arranger and selling agent for PHP 50 billion SIGLA social bonds, the bank’s largest peso bond issuance to date, exceeding its initial PHP 5 billion target tenfold and aligned with ASEAN Social Bond Standards.

Together, these transactions demonstrate ING’s ability to arrange, coordinate, and distribute large-scale ESG instruments across both domestic and international investors.

Driving sustainable finance through advisory and execution

Beyond capital markets execution, ING played a key role in supporting clients in developing credible, investor-grade sustainability frameworks.

ING advised SteelAsia Manufacturing Corporation on the development of its Sustainable Finance Framework, which received a “Very Good” SQS2 rating from Moody’s—the second highest on its sustainability quality scale and recognised as one of the strongest frameworks of its kind in the region.

This work highlights ING’s ability to support even carbon-intensive industries in developing credible transition strategies aligned with global taxonomies.

The team also works closely with corporates, regulators, and industry stakeholders to support ESG issuance readiness, while helping shape a regulatory environment aligned with international best practices.

Through its integrated approach—combining, advisory, structuring and market engagement—ING supports clients in financing green and social projects across sectors.

This includes enabling investments in renewable energy, sustainable infrastructure, and low-carbon industrial processes, contributing to the Philippines’ transition towards a more resilient and sustainable economy.

Jun Palanca, country manager, ING Philippines, said: “We are honoured to receive this recognition, which reflects the strength of our sustainable finance franchise in the Philippines. Our focus is on delivering well-structured, credible ESG financing solutions at scale, while supporting the continued development of the local capital markets. We will continue to work closely with our clients to mobilise capital towards sustainable outcomes and support the country’s transition.”

ING’s win in the Philippines forms part of a broader regional recognition at this year’s awards, underscoring the strength of its APAC franchise. ING Korea was named South Korea International Trade Finance Bank of the Year for the fourth consecutive year, while ING Taiwan secured Taiwan International Trade Finance Bank of the Year for the third consecutive year—reflecting the bank’s consistent delivery of cross-border working capital solutions across key markets.