February 21, 2017, 8:45 pm
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1 Philippine Peso = 0.07293 UAE Dirham
1 Philippine Peso = 2.52581 Albanian Lek
1 Philippine Peso = 0.03515 Neth Antilles Guilder
1 Philippine Peso = 0.30481 Argentine Peso
1 Philippine Peso = 0.02586 Australian Dollar
1 Philippine Peso = 0.03554 Aruba Florin
1 Philippine Peso = 0.03971 Barbados Dollar
1 Philippine Peso = 1.57506 Bangladesh Taka
1 Philippine Peso = 0.03647 Bulgarian Lev
1 Philippine Peso = 0.00748 Bahraini Dinar
1 Philippine Peso = 33.46168 Burundi Franc
1 Philippine Peso = 0.01986 Bermuda Dollar
1 Philippine Peso = 0.02815 Brunei Dollar
1 Philippine Peso = 0.13622 Bolivian Boliviano
1 Philippine Peso = 0.06162 Brazilian Real
1 Philippine Peso = 0.01986 Bahamian Dollar
1 Philippine Peso = 1.33042 Bhutan Ngultrum
1 Philippine Peso = 0.20696 Botswana Pula
1 Philippine Peso = 397.53772 Belarus Ruble
1 Philippine Peso = 0.03967 Belize Dollar
1 Philippine Peso = 0.02601 Canadian Dollar
1 Philippine Peso = 0.01991 Swiss Franc
1 Philippine Peso = 12.67752 Chilean Peso
1 Philippine Peso = 0.13655 Chinese Yuan
1 Philippine Peso = 57.2776 Colombian Peso
1 Philippine Peso = 10.95115 Costa Rica Colon
1 Philippine Peso = 0.01986 Cuban Peso
1 Philippine Peso = 2.06136 Cape Verde Escudo
1 Philippine Peso = 0.50503 Czech Koruna
1 Philippine Peso = 3.53197 Djibouti Franc
1 Philippine Peso = 0.13894 Danish Krone
1 Philippine Peso = 0.92534 Dominican Peso
1 Philippine Peso = 2.18034 Algerian Dinar
1 Philippine Peso = 0.29236 Estonian Kroon
1 Philippine Peso = 0.31315 Egyptian Pound
1 Philippine Peso = 0.44698 Ethiopian Birr
1 Philippine Peso = 0.01869 Euro
1 Philippine Peso = 0.04092 Fiji Dollar
1 Philippine Peso = 0.01598 Falkland Islands Pound
1 Philippine Peso = 0.01592 British Pound
1 Philippine Peso = 0.08694 Ghanaian Cedi
1 Philippine Peso = 0.86338 Gambian Dalasi
1 Philippine Peso = 184.72001 Guinea Franc
1 Philippine Peso = 0.14677 Guatemala Quetzal
1 Philippine Peso = 4.05262 Guyana Dollar
1 Philippine Peso = 0.15408 Hong Kong Dollar
1 Philippine Peso = 0.46652 Honduras Lempira
1 Philippine Peso = 0.13837 Croatian Kuna
1 Philippine Peso = 1.28535 Haiti Gourde
1 Philippine Peso = 5.75973 Hungarian Forint
1 Philippine Peso = 265.01191 Indonesian Rupiah
1 Philippine Peso = 0.07353 Israeli Shekel
1 Philippine Peso = 1.32923 Indian Rupee
1 Philippine Peso = 23.45115 Iraqi Dinar
1 Philippine Peso = 643.20888 Iran Rial
1 Philippine Peso = 2.18924 Iceland Krona
1 Philippine Peso = 2.54845 Jamaican Dollar
1 Philippine Peso = 0.01407 Jordanian Dinar
1 Philippine Peso = 2.24728 Japanese Yen
1 Philippine Peso = 2.05322 Kenyan Shilling
1 Philippine Peso = 1.37172 Kyrgyzstan Som
1 Philippine Peso = 79.01906 Cambodia Riel
1 Philippine Peso = 9.15965 Comoros Franc
1 Philippine Peso = 17.87133 North Korean Won
1 Philippine Peso = 22.76807 Korean Won
1 Philippine Peso = 0.00605 Kuwaiti Dinar
1 Philippine Peso = 0.01628 Cayman Islands Dollar
1 Philippine Peso = 6.33439 Kazakhstan Tenge
1 Philippine Peso = 162.45035 Lao Kip
1 Philippine Peso = 29.86497 Lebanese Pound
1 Philippine Peso = 2.98749 Sri Lanka Rupee
1 Philippine Peso = 1.78713 Liberian Dollar
1 Philippine Peso = 0.25715 Lesotho Loti
1 Philippine Peso = 0.06054 Lithuanian Lita
1 Philippine Peso = 0.01232 Latvian Lat
1 Philippine Peso = 0.02826 Libyan Dinar
1 Philippine Peso = 0.19979 Moroccan Dirham
1 Philippine Peso = 0.39525 Moldovan Leu
1 Philippine Peso = 1.14496 Macedonian Denar
1 Philippine Peso = 26.88642 Myanmar Kyat
1 Philippine Peso = 49.14615 Mongolian Tugrik
1 Philippine Peso = 0.15873 Macau Pataca
1 Philippine Peso = 7.05322 Mauritania Ougulya
1 Philippine Peso = 0.70234 Mauritius Rupee
1 Philippine Peso = 0.30421 Maldives Rufiyaa
1 Philippine Peso = 14.29706 Malawi Kwacha
1 Philippine Peso = 0.40758 Mexican Peso
1 Philippine Peso = 0.08849 Malaysian Ringgit
1 Philippine Peso = 0.26128 Namibian Dollar
1 Philippine Peso = 6.25496 Nigerian Naira
1 Philippine Peso = 0.58627 Nicaragua Cordoba
1 Philippine Peso = 0.16555 Norwegian Krone
1 Philippine Peso = 2.15647 Nepalese Rupee
1 Philippine Peso = 0.02763 New Zealand Dollar
1 Philippine Peso = 0.00764 Omani Rial
1 Philippine Peso = 0.01986 Panama Balboa
1 Philippine Peso = 0.06476 Peruvian Nuevo Sol
1 Philippine Peso = 0.06296 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.08122 Pakistani Rupee
1 Philippine Peso = 0.08074 Polish Zloty
1 Philippine Peso = 114.24742 Paraguayan Guarani
1 Philippine Peso = 0.07229 Qatar Rial
1 Philippine Peso = 0.08451 Romanian New Leu
1 Philippine Peso = 1.15249 Russian Rouble
1 Philippine Peso = 16.1811 Rwanda Franc
1 Philippine Peso = 0.07447 Saudi Arabian Riyal
1 Philippine Peso = 0.15448 Solomon Islands Dollar
1 Philippine Peso = 0.26803 Seychelles Rupee
1 Philippine Peso = 0.13238 Sudanese Pound
1 Philippine Peso = 0.17685 Swedish Krona
1 Philippine Peso = 0.02815 Singapore Dollar
1 Philippine Peso = 0.01598 St Helena Pound
1 Philippine Peso = 0.44095 Slovak Koruna
1 Philippine Peso = 145.88959 Sierra Leone Leone
1 Philippine Peso = 10.90151 Somali Shilling
1 Philippine Peso = 458.00835 Sao Tome Dobra
1 Philippine Peso = 0.1732 El Salvador Colon
1 Philippine Peso = 10.22597 Syrian Pound
1 Philippine Peso = 0.26146 Swaziland Lilageni
1 Philippine Peso = 0.69519 Thai Baht
1 Philippine Peso = 0.04538 Tunisian Dinar
1 Philippine Peso = 0.0447 Tongan paʻanga
1 Philippine Peso = 0.07189 Turkish Lira
1 Philippine Peso = 0.13343 Trinidad Tobago Dollar
1 Philippine Peso = 0.6112 Taiwan Dollar
1 Philippine Peso = 44.24146 Tanzanian Shilling
1 Philippine Peso = 0.53981 Ukraine Hryvnia
1 Philippine Peso = 71.20731 Ugandan Shilling
1 Philippine Peso = 0.01986 United States Dollar
1 Philippine Peso = 0.56195 Uruguayan New Peso
1 Philippine Peso = 65.62748 Uzbekistan Sum
1 Philippine Peso = 0.19806 Venezuelan Bolivar
1 Philippine Peso = 452.9984 Vietnam Dong
1 Philippine Peso = 2.10346 Vanuatu Vatu
1 Philippine Peso = 0.05044 Samoa Tala
1 Philippine Peso = 12.2498 CFA Franc (BEAC)
1 Philippine Peso = 0.05361 East Caribbean Dollar
1 Philippine Peso = 12.39515 CFA Franc (BCEAO)
1 Philippine Peso = 2.22379 Pacific Franc
1 Philippine Peso = 4.96823 Yemen Riyal
1 Philippine Peso = 0.26052 South African Rand
1 Philippine Peso = 103.04805 Zambian Kwacha
1 Philippine Peso = 7.18626 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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