Asiamoney awards BDO for its banking excellence

BDO Unibank Inc. is the most outstanding financial institution in the Philippines, according to results of Asiamoney’s 2019 Asia’s Outstanding Companies Poll.

The financial publication’s annual survey “recognizes publicly-listed companies across the region for their excellence in a variety of business areas and markets.” Winners from 12 markets in Asia are nominated and voted by over 800 fund managers, buy-side analysts, bankers, and ratings agencies.

Ranking #1 in the finance cluster, BDO was awarded with the Most Outstanding Company in the Philippines - Financials Sector for the second time during the 2019 Asiamoney Best Banks Awards. For the seventh time, it also received the Best Domestic Bank Award and for the first time, the Best Private Bank Award for its subsidiary, BDO Private Bank.

Strategic banking

Asiamoney recognized BDO as the “bank to beat in the Philippines” and underscored its industry leadership with the strength of its total assets, the reach of its retail network, and the dominance it asserts in investment banking, private banking, credit cards, and insurance brokerage.

As of the first half of 2019, BDO remains the country’s largest bank in terms of total assets, loans, deposits, and trust funds. Its assets currently stand at P3.1 trillion. Across the archipelago, it runs more than 1,400 branches and 4,000 ATMs.

Outside the Philippines, it maintains full-service branches in Hong Kong and Singapore, as well as 21 remittance and representative offices in Asia, Europe, North America, and the Middle East. BDO’s international presence allows it to be the leading provider of remittance services for overseas Filipinos.

Complementing its resources with sound business acumen, the bank achieved a half-year earnings of P20.2 billion, sustaining its momentum after closing 2018 with a record P32.7 billion net income.

“Good execution of our strategy allowed us to further strengthen our various businesses and translate it to good financial results,” said Nestor Tan, president and chief executive officer of BDO.

Private banking

Meanwhile, through BDO Private Bank, the country’s largest lender is able to empower high net-worth Filipino clients to achieve their financial goals. It implements the open architecture approach, which allows the bank to personalize its products and services, and help its clientele to preserve and enhance their wealth over the long-term.

Asiamoney points to BDO Private Bank’s broad range of domestic and international products and digital banking services for its long-standing success. “A combination that few of its rivals have been able to match so far,” the publication adds.

“Our industry-leading position is the result of a relentless drive to progressively add value to client relationships by structuring diverse portfolios bespoke to each client’s unique circumstances,” says Albert Yeo, president of BDO Private Bank. (PR)