BDO Unibank Inc. (BDO) was awarded the Best Bank in the Philippines for the 11th time by Hong Kong-based institutional investment publication Alpha Southeast Asia at the Best Financial Institution Awards 2022.
In addition to the Best Bank award, BDO and its subsidiaries also won the following awards: Best Cash Management Bank in the Philippines, for the 7th consecutive year; Best FX Bank for Hedging Requirements and Best Corporate Treasury Sales & Structuring Team; BDO Trust – Best Online & Mobile Platform, Best Fund with Optimal Information Ratio and Best Fund Manager for Pension Mandates & Private Retirement Schemes; BDO Capital – Best Bond House in the Philippines for the 9th time; BDO Securities – Best Retail Broker in the Philippines; BDO Private Bank – Best Wealth Management Bank for the 15th straight year
Alpha Southeast Asia evaluated the performance of financial institutions from a business and strategic performance perspective including major strategic initiatives such as digital transformation and new business launches. The judges also assessed the deals and transaction volumes of financial institutions from June 1, 2021 to May 31, 2022.
“These recognitions are a testament to the commitment and dedication of the entire BDO workforce. These awards are for them,” said Nestor V. Tan, President and CEO of BDO Unibank.
BDO is the country’s largest bank in terms of total assets, loans, deposits and trust funds under management. The Bank has the country’s largest distribution network, with over 1,500 consolidated operating branches and more than 4,500 ATMs nationwide. It also has 16 international offices in Asia, Europe, North America and the Middle East. The Bank also offers extensive digital banking solutions to make banking easier, faster, and more secure for its clients.
BDO grew its net income by 12 percent year-on-year to P23.9 billion in the first six months of the year on strong results across its core businesses.
Customer loan portfolio went up by 9 percent, funded by an 11 percent rise in CASA deposits which now comprise 85 percent of total deposits.
Non-interest income expanded to P34.3 billion, lifted by the strong expansion in fees and insurance premiums.
Pre-provision operating profit (PPOP) was up to P39.2 billion reflective of the strength of core income sources amid tempered rise in OPEX.
Asset quality sustained its improvement as NPL ratio went down further to 2.39 percent vs. 2.72 percent a quarter-ago and 3.12 percent a year-ago.
Apart from Alpha Southeast Asia Awards, BDO Unibank has received numerous accolades internationally from prestigious publications and organizations such as Finance Asia, Asiamoney, The Asian Banker, The Asset, Asian Banking & Finance, Asian Investor, Corporate Governance Asia, Enterprise Asia, Euromoney, FinanceAsia, Forbes, Global Finance, Institutional Investor, IJ Global, Reader’s Digest, and World Finance.
