Standard Chartered Bank has unveiled a new premier banking product in the Philippines to tap the country's growing wealthy demographic.

Priority Banking, the new service, is based on three pillars of commitment, the company said in a statement. These are priority services, priority benefits, and priority solutions. Under priority services, clients are offered dedicated and personalised services, including exclusive tellers at branches and 24-hour customer services hotlines.

Under priority benefits, clients gain access to invitation-only offerings, as well as travel perks and VIP privileges. Under priority solutions, the bank promises to deliver a comprehensive range of wealth management approaches tailored to customers' needs and lifestyles.

The introduction of priority banking features comes as Filipinos are gaining ranks among the world's wealthiest individuals.

The Philippines is home to four listees included in the 2011 Forbes Billionaires List, with the richest man in the country being retail magnate Henry Sy ($5.8 billion as of March 2011). In this list, Sy placed 173d, up from 201 in 2010.

The other Filipinos on the list are airline boss Lucio Tan, up at 512 from 582, and newcomers Andrew Tan and Enrique Razon at 540 and 1057, respectively. 2011 is also the year there are more Asian billionaires on the Forbes list than Europe at 332 to 300.