December 18, 2017, 8:51 pm
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1 Philippine Peso = 0.07288 UAE Dirham
1 Philippine Peso = 2.24593 Albanian Lek
1 Philippine Peso = 0.03533 Neth Antilles Guilder
1 Philippine Peso = 0.34712 Argentine Peso
1 Philippine Peso = 0.02593 Australian Dollar
1 Philippine Peso = 0.03533 Aruba Florin
1 Philippine Peso = 0.0397 Barbados Dollar
1 Philippine Peso = 1.63815 Bangladesh Taka
1 Philippine Peso = 0.03288 Bulgarian Lev
1 Philippine Peso = 0.00748 Bahraini Dinar
1 Philippine Peso = 34.75546 Burundi Franc
1 Philippine Peso = 0.01985 Bermuda Dollar
1 Philippine Peso = 0.02675 Brunei Dollar
1 Philippine Peso = 0.13617 Bolivian Boliviano
1 Philippine Peso = 0.06539 Brazilian Real
1 Philippine Peso = 0.01985 Bahamian Dollar
1 Philippine Peso = 1.2763 Bhutan Ngultrum
1 Philippine Peso = 0.20411 Botswana Pula
1 Philippine Peso = 397.3799 Belarus Ruble
1 Philippine Peso = 0.03965 Belize Dollar
1 Philippine Peso = 0.02552 Canadian Dollar
1 Philippine Peso = 0.01965 Swiss Franc
1 Philippine Peso = 12.62406 Chilean Peso
1 Philippine Peso = 0.13118 Chinese Yuan
1 Philippine Peso = 59.40849 Colombian Peso
1 Philippine Peso = 11.184 Costa Rica Colon
1 Philippine Peso = 0.01985 Cuban Peso
1 Philippine Peso = 1.86245 Cape Verde Escudo
1 Philippine Peso = 0.43364 Czech Koruna
1 Philippine Peso = 3.50992 Djibouti Franc
1 Philippine Peso = 0.12575 Danish Krone
1 Philippine Peso = 0.94204 Dominican Peso
1 Philippine Peso = 2.28011 Algerian Dinar
1 Philippine Peso = 0.26427 Estonian Kroon
1 Philippine Peso = 0.35252 Egyptian Pound
1 Philippine Peso = 0.5391 Ethiopian Birr
1 Philippine Peso = 0.01689 Euro
1 Philippine Peso = 0.04119 Fiji Dollar
1 Philippine Peso = 0.01488 Falkland Islands Pound
1 Philippine Peso = 0.0149 British Pound
1 Philippine Peso = 0.08949 Ghanaian Cedi
1 Philippine Peso = 0.93628 Gambian Dalasi
1 Philippine Peso = 177.61016 Guinea Franc
1 Philippine Peso = 0.14561 Guatemala Quetzal
1 Philippine Peso = 4.01171 Guyana Dollar
1 Philippine Peso = 0.15502 Hong Kong Dollar
1 Philippine Peso = 0.46602 Honduras Lempira
1 Philippine Peso = 0.12717 Croatian Kuna
1 Philippine Peso = 1.24851 Haiti Gourde
1 Philippine Peso = 5.30468 Hungarian Forint
1 Philippine Peso = 269.45216 Indonesian Rupiah
1 Philippine Peso = 0.0697 Israeli Shekel
1 Philippine Peso = 1.27173 Indian Rupee
1 Philippine Peso = 23.50139 Iraqi Dinar
1 Philippine Peso = 706.60975 Iran Rial
1 Philippine Peso = 2.09111 Iceland Krona
1 Philippine Peso = 2.47122 Jamaican Dollar
1 Philippine Peso = 0.01404 Jordanian Dinar
1 Philippine Peso = 2.23456 Japanese Yen
1 Philippine Peso = 2.04347 Kenyan Shilling
1 Philippine Peso = 1.38392 Kyrgyzstan Som
1 Philippine Peso = 79.89281 Cambodia Riel
1 Philippine Peso = 8.1582 Comoros Franc
1 Philippine Peso = 17.86423 North Korean Won
1 Philippine Peso = 21.58495 Korean Won
1 Philippine Peso = 0.00599 Kuwaiti Dinar
1 Philippine Peso = 0.01628 Cayman Islands Dollar
1 Philippine Peso = 6.65919 Kazakhstan Tenge
1 Philippine Peso = 164.78761 Lao Kip
1 Philippine Peso = 29.88289 Lebanese Pound
1 Philippine Peso = 3.0389 Sri Lanka Rupee
1 Philippine Peso = 2.48432 Liberian Dollar
1 Philippine Peso = 0.26141 Lesotho Loti
1 Philippine Peso = 0.06051 Lithuanian Lita
1 Philippine Peso = 0.01232 Latvian Lat
1 Philippine Peso = 0.02704 Libyan Dinar
1 Philippine Peso = 0.1878 Moroccan Dirham
1 Philippine Peso = 0.33869 Moldovan Leu
1 Philippine Peso = 1.03414 Macedonian Denar
1 Philippine Peso = 27.03454 Myanmar Kyat
1 Philippine Peso = 48.15403 Mongolian Tugrik
1 Philippine Peso = 0.15967 Macau Pataca
1 Philippine Peso = 6.9869 Mauritania Ougulya
1 Philippine Peso = 0.67209 Mauritius Rupee
1 Philippine Peso = 0.30905 Maldives Rufiyaa
1 Philippine Peso = 14.16276 Malawi Kwacha
1 Philippine Peso = 0.37963 Mexican Peso
1 Philippine Peso = 0.08094 Malaysian Ringgit
1 Philippine Peso = 0.2608 Namibian Dollar
1 Philippine Peso = 7.10599 Nigerian Naira
1 Philippine Peso = 0.60838 Nicaragua Cordoba
1 Philippine Peso = 0.16635 Norwegian Krone
1 Philippine Peso = 2.03573 Nepalese Rupee
1 Philippine Peso = 0.02839 New Zealand Dollar
1 Philippine Peso = 0.00762 Omani Rial
1 Philippine Peso = 0.01985 Panama Balboa
1 Philippine Peso = 0.06535 Peruvian Nuevo Sol
1 Philippine Peso = 0.06434 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.17745 Pakistani Rupee
1 Philippine Peso = 0.07099 Polish Zloty
1 Philippine Peso = 111.57205 Paraguayan Guarani
1 Philippine Peso = 0.07225 Qatar Rial
1 Philippine Peso = 0.07797 Romanian New Leu
1 Philippine Peso = 1.1679 Russian Rouble
1 Philippine Peso = 16.58892 Rwanda Franc
1 Philippine Peso = 0.07443 Saudi Arabian Riyal
1 Philippine Peso = 0.15358 Solomon Islands Dollar
1 Philippine Peso = 0.26852 Seychelles Rupee
1 Philippine Peso = 0.13219 Sudanese Pound
1 Philippine Peso = 0.16899 Swedish Krona
1 Philippine Peso = 0.02675 Singapore Dollar
1 Philippine Peso = 0.01489 St Helena Pound
1 Philippine Peso = 0.44077 Slovak Koruna
1 Philippine Peso = 151.44898 Sierra Leone Leone
1 Philippine Peso = 11.09567 Somali Shilling
1 Philippine Peso = 413.80507 Sao Tome Dobra
1 Philippine Peso = 0.17368 El Salvador Colon
1 Philippine Peso = 10.22191 Syrian Pound
1 Philippine Peso = 0.26054 Swaziland Lilageni
1 Philippine Peso = 0.6449 Thai Baht
1 Philippine Peso = 0.04961 Tunisian Dinar
1 Philippine Peso = 0.04557 Tongan paʻanga
1 Philippine Peso = 0.07666 Turkish Lira
1 Philippine Peso = 0.13159 Trinidad Tobago Dollar
1 Philippine Peso = 0.5944 Taiwan Dollar
1 Philippine Peso = 44.30329 Tanzanian Shilling
1 Philippine Peso = 0.54875 Ukraine Hryvnia
1 Philippine Peso = 71.55617 Ugandan Shilling
1 Philippine Peso = 0.01985 United States Dollar
1 Philippine Peso = 0.57046 Uruguayan New Peso
1 Philippine Peso = 160.57959 Uzbekistan Sum
1 Philippine Peso = 0.198 Venezuelan Bolivar
1 Philippine Peso = 450.55577 Vietnam Dong
1 Philippine Peso = 2.09845 Vanuatu Vatu
1 Philippine Peso = 0.05144 Samoa Tala
1 Philippine Peso = 11.07165 CFA Franc (BEAC)
1 Philippine Peso = 0.05359 East Caribbean Dollar
1 Philippine Peso = 11.49782 CFA Franc (BCEAO)
1 Philippine Peso = 2.00337 Pacific Franc
1 Philippine Peso = 4.96129 Yemen Riyal
1 Philippine Peso = 0.26079 South African Rand
1 Philippine Peso = 103.00714 Zambian Kwacha
1 Philippine Peso = 7.18341 Zimbabwe dollar

BDO Private Bank one of world’s best

Global Finance magazine has named BDO Private Bank (BDOPB) one of the world’s best private banks for continuously providing the diverse investment and financial needs of its high net-worth clients.

BDOPB is a wholly owned subsidiary of BDO Unibank, the country’s largest bank to date. 

“With unprecedented wealth accruing to individuals worldwide, the number of millionaires and billionaires is growing in every region of the world,” Joseph D. Giarraputo, publisher and editorial director of Global Finance, said in a statement. “Although often viewed as a monolithic group, in truth the wealthy have diverse needs--whether preserving inherited wealth or managing riches gained through entrepreneurship.”

He noted that the annual World’s Best Private Banks Awards help high net-worth investors choose wisely among the myriad private banks with different strengths in wealth advisory services, to identify the firms most likely to understand their individual needs and deliver on the highest level of client service.

Global Finance said it selected the winners making use of entry submissions, market research, input from industry analysts and executives, and other users of private banking services.

The winners will officially be honored during the dinner ceremony for the second annual World’s Best Private Banks Awards to be held in New York on February 7. A full report on the selections will appear in the December issue of Global Finance. 

Last week, parent company BDO announced that it has fixed the final terms for its P60 billion stock rights offering of up to 716.4 million common shares to stockholders as of record date 10 January 2017. 

Each eligible stockholder is entitled to subscribe to one common share for every 5.095 common shares held as of record date at an offer price of P83.75 per share. The offer price is based on the 15- day volume-weighted average price of BDO common shares listed at the PSE at a discount of 23.4 percent. 

The stock rights offer will commence at 9:00 a.m. on January 16 and end at 12:00 p.m. on January 24.

The fresh capital will support the Bank’s medium-term growth objectives amid the country’s favorable macroeconomic prospects and provide a comfortable buffer over higher capital requirements with the forthcoming imposition of the Domestic Systemically Important Bank (DSIB) surcharge. 

BDO has appointed Credit Suisse, UBS and BDO Capital as Joint Global Coordinators and Bookrunners, with Citigroup, Goldman Sachs and HSBC as Joint Bookrunners. BDO Capital will serve as Issue Manager and Domestic Underwriter. 

This came after the bank issued last October $300 million in Fixed Rate Senior Notes at 2.63 percent, the lowest ever coupon rate for any US Dollar denominated bond for a Philippine issuer.

BDO posted a 10 percent year-on-year increase in net income to P19.3 billion in the first nine months of the year boosted by the bank’s core lending, deposit-taking and fee-based businesses.

BDO, in a statement, said net interest income (NII) for the first nine months grew 16 percent to P48.4 billion while customer loan portfolio expanded by 15 percent to P1.4 trillion on broad-based growth across all market segments. 

Total deposits rose 14 percent to P1.8 trillion, supported by the 21 percent increase in low-cost CASA deposits which now comprise 70percent of total deposits.

Fee-based income was up 15 per cent to P16.0 billion, while trading and foreign exchange income normalized to P4.5 billion, or a decline of 29 percent.

Operating expenses increased by 29 percent to P52.8 billion, which reflects the consolidation of One Network Bank (ONB) and BDO Life Insurance operations.

The bank added it has set aside P2.6 billion in provisions even as asset quality held firm. Gross non-performing loan (NPL) ratio was steady at 1.3 percent, while NPL cover remained high at 143 percent.

The bank’s capital base stood atP215.4 billion, with Common Equity Tier 1 (CET1) and Capital Adequacy Ratio (CAR) both remaining above the current regulatory minimum under the Basel III framework.

BDO is a full-service universal bank which provides a wide range of corporate, commercial and retail banking services. 

It has one of the largest distribution networks, with more than 1,000 operating branches and over 3,000 ATMs nationwide.  It also has a branch in Hong Kong as well as 25 overseas remittance and representative offices in Asia, Europe, North America and the Middle East.

BDO ranked as the largest bank in terms of total assets, loans, deposits and trust funds under management based on published statements of condition as of June 30, 2016.
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