Finance & Business

BDO And Subsidiaries Earn Top Finance Asia Awards

FinanceAsia presented BDO Unibank, Inc. and two of its subsidiaries with top honors during its annual Country Awards, which recognizes the best banks, brokers, and law firms across Asia.

BDO was named Best Bank in the Philippines for the 13th straight year. BDO Private Bank, on the other hand, was recognized as the Best Private Bank in the Philippines—a prestigious title it has held since 2008. Meanwhile, BDO Capital & Investment Corporation was awarded the Best Equity Capital Market (ECM) House in the Philippines, which it also got in 2017.

“The competition is always fierce, but this year it also took place against an unprecedented global backdrop thanks to COVID-19. What stood out was the banks’ resilience and their ability to adapt to fast-changing conditions, not least in enabling most of their employees to successfully work from home,” said FinanceAsia about this year’s winners.

Best Bank

FinanceAsia attributed BDO’s over-a-decade hold of the Best Bank in the Philippines Award to its continued efforts to uphold financial inclusion and enhance consumer and mid-market lending.

The bank reported a 35% increase in its year-end income amounting to P44.2 billion for 2019. Most recently, it logged P4.3 billion representing half-year earnings for 2020.

Amid the pandemic, BDO keeps its products and services within reach through its expansive nationwide network of branches. The financial institution however, encourages its clients to use online banking instead to keep themselves and their loved ones safe.

Best Private Bank

BDO Private Bank had an impressive 2019, more than doubling its net profits to P878 million at the end of 2019 from P301 million in 2018.

FinanceAsia identified the local government’s move to reduce death duties on estates from 20% to 6% as an income driver for the bank’s inheritance and tax planning business. Another driver, according to the publication, was the changing mix of foreign and domestic investments, which expanded the bank’s offerings and shifted its clients’ ratio of peso and foreign currency holdings.

While physical events are on hold, BDO Private Bank has turned to digital by frequently hosting webinars to engage with its clientele.

Best ECM House

FinanceAsia called BDO Capital a “runaway winner” for the Best ECM House in the Philippines award. “It was a year when equity capital markets were quiet, but BDO was the only bank that was active across all the main categories,” it said.

In 2019, BDO Capital mounted three landmark projects. One was the Initial Public Offering (IPO) of fruit and beverage kiosk operator Fruitas, which resulted in P896.55 million. Another was the delisting of Travellers International Hotel Group worth P6 billion.

Most prominent of the three was its work for Cemex Holdings worth P12.8 billion, which was not only BDO Capital’s biggest equity deal but also the market’s largest for the year.

6 Comments

6 Comments

  1. Lyka (mitra) Baqueros
    August 31, 2020 at 10:37 am

    Hndi po biro ang 13 years straight sa pagiging the best sa field ng banking.. talagang maraming nagtitiwala kaya deserve po ito.. ❤

  2. Antoniette Sanchez David
    August 31, 2020 at 12:32 pm

    Congrats bdo sa success na natatanggap mo ngayon at godbless sa inyo dahil walang sawa kayo tumutulong sa mga taong nangangailangan we find ways talaga ika nyo nga

  3. Bessie Ramos
    August 31, 2020 at 5:04 pm

    Wow comgrats BDo and subsidiaries deserve niyo po yan

  4. Erica Sosing
    August 31, 2020 at 7:04 pm

    Congrats po sa BDO for being the best Bank of the Philippines. For the 13 straight years at the Finance Asia annual country awards. 👏😊 Best Private bank po tlaga sila because just like their tag line they always find ways to help their client. 😊 Keep it up BDO. 😊

  5. Karen
    September 1, 2020 at 2:25 pm

    Congratulations BDO best bank k talaga dami nyo po ntutulungan especially yung mga employee nyo po …god bless po

  6. Anarose Lucero
    September 1, 2020 at 8:25 pm

    congrats naman po sa BDO..patunay lamang ng malaking tiwala ng mga Pilipino sa BDO unibank..sa dami ng kanilang natutulungan sa kanilang mga proyekto at programa kaya naman they truely deserve such awards

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.