BDO Unibank, Inc. | Banco De Oro | BDO Philippines

07-29-11 BDO Private Bank wins award from The Asset

HONG KONG-based investment journal The Asset has named BDO Private Bank (BDOPB) the Best Private Bank in the Philippines in the recently concluded The Asset Triple A Awards 2011.

According to The Asset, the award is given to financial institutions that provided the most appropriate advice to high net worth clients; the most experienced relationship managers; and, the best range of products. The growth in business whether measured by assets under management, net new money and revenues, and the investments made in the business despite difficult markets, were also taken into consideration.

BDOPB, a wholly owned subsidiary of BDO Unibank, Inc., is known for its “open architecture” platform that addresses the varied needs and objectives of clients in building up their wealth.

“Backed by the financial strength of our parent BDO Unibank, we are presented with a unique opportunity which we continue to build on to develop the domestic private banking business. Our open architecture platform, bespoke services and focus on deepening client relationships earned the loyalty and continued trust of our clients,” said BDOPB president Josefina N. Tan.

Shown in photo (from left) are BDOPB officers Gamalielh Benavides and Juan Sabino Lizares, who received the award on behalf of the bank.

10-13-11 BDO Capital leads signing of facility agreement with FPHC

First Philippine Holdings Corp. (FPHC) recently signed a P4.8-billion corporate notes facility agreement with BDO Capital and Investment Corp. (as sole arranger) and four other banks, namely, BDO Unibank, Inc., Maybank Philippines, Inc., Rizal Commercial Banking Corp. and Union Bank of the Philippines.

Shown in photo are (standing from left) Peter Ismael F. Quiambao, FVP Union Bank; Manuel A. Castaneda III, SVP-Maybank; Manuel G. Bosano III, VP - Maybank; Antonino A.S. Fajardo, FVP-UBP; Adora A. Yanga, SAVP-BDO; Cynthia C. Hilario , AVP-BDO; Susan Marie J. Atienza, VP-BDO.

Seated (from left) are Joseph B. Lledo, VP-BDO; Edmundo S. Soriano, EVP- BDO; Francis Giles B. Puno, EVP-FPHC; Elpidio L. Ibanez, president&COO- FPHC; Eduardo V. Francisco, president- BDO Cap, Eleanor M. Hilado-SVP, BDO Cap; Michael O. De Jesus, First SVP- RCBC Capital.

10-13-11 Baker king shares unique banking experience

In a recent forum for small and medium enterprises (SMEs), The French Baker founder and chief executive JohnLu Koa (in photo) talked about the importance of having a solid bank as a partner. “It is always good to have a strong backing of a bank to make our business grow. I invested a relationship with BDO like a friend. It pays attention to you, at what you do, and at your potential. All these years, my relationship with BDO has been instrumental because it looks after you and has enough resources to help you plan,” he said.

11-03-11 BDO 9M11 income at P7.6 billion

Banco De Oro Unibank, Inc. (BDO) reported a net income of P7.6 billion for the first nine months of 2011, up 19 percent compared to the P6.4 billion it earned in the same period last year.

The Bank managed to post a record performance despite the difficult operating environment here and overseas. BDO will continue to maintain cautious stance due to the current economic developments in Europe and in the U.S.

BDO’s lending operations posted above-industry growth rates, with gross customer loans growing 24 percent to P620.8 billion compared to a 19% growth rate for the industry. All market segments registered good growth compared to last year. Total deposits increased 15 percent to P820.6 billion, buoyed by low-cost deposits generated from an expanded branch network. System liquidity however, continued to compress asset yields, and net interest income improved slightly to P25.7 billion.

Recurring fee-based income from service businesses however rose 17 percent to P8.8 billion, driven by strong growth from asset and wealth management, payments and electronic banking, insurance and capital markets. The Bank also managed to post a 16 percent increase in trading and foreign exchange gains to P5.1 billion despite the volatile external market conditions. Overall, non-interest income including other miscellaneous income went up by 16 percent to P15.3 billion.

Operating expenses grew moderately at 5 percent to P 27.0 billion as the Bank contained expense growth at manageable levels. As such, pre-provision operating profit rose 10% from last year.

Despite the growth in the Bank’s balance sheet, asset quality improved with the gross non-performing loan (NPL) ratio dipping to 3.9 percent from 4.7 percent as of year-end. BDO also maintained its provisioning by setting aside P5.1 billion year-to-date, bringing its NPL coverage ratio now to 108 percent.

BDO’s capital position was stronger with Capital Adequacy Ratio (CAR) rising to 15 percent following a P8.5 billion Tier 2 issue in June. BDO issued an additional P6.5 billion worth of Tier 2 Notes in October 2011 to further supplement the Bank’s capital position and complete its P15 billion capital program.

The interim results led to enhanced shareholder returns, with an annualized Return on Common Equity of 11.8 percent.

09-20-11 BDO to issue additional Tier 2 Notes

Banco De Oro Unibank, Inc. (“BDO”) announced plans to issue approximately Php 3 billion worth of Peso-denominated Unsecured Subordinated Notes qualifying as Tier 2 capital (“T2”). This will be BDO’s second offering of T2 notes in 2011, following the successful issuance of Php 8.5 billion in June 2011, and will form part of the Php 15 billion T2 program earlier approved by the Bangko Sentral ng Pilipinas (BSP). The additional T2 notes will be used to supplement the Bank’s capital position and support its business expansion plans.

The T2 notes will carry a tenor of 10 years and 3 months from issue date, and will have a call option exercisable by the Bank after five years, subject to prior BSP approval. The indicative coupon rates will be based on the prevailing 10-year PDST-F benchmark, and will be finalized at the end of the offer period. Interest will be paid quarterly and will be tax exempt for individual investors if held for more than 5 years. The offer period is from 20 - 30 September 2011, with the issue date tentatively set for 7 October 2011. BDO reserves the right to upsize the issue and adjust the timing and terms of the offer as needed.

Deutsche Bank AG, Manila Branch, The Hongkong and Shanghai Banking Corporation Limited and Standard Chartered Bank are acting as Joint Lead Arrangers and Selling Agents for the transaction. Other selling agents are BDO Private Bank, Inc. and Multinational Investment Bancorporation.

07-29-11 BDO receives awards from FinanceAsia

BDO Unibank, Inc. (BDO) took home three awards from FinanceAsia, one of the region’s leading financial publications: The Philippines’ Best Bank, Best Investment Bank, and Best Private Bank.

In photo are (from left) Jonathan Cua, senior vice president, BDO Private Bank (BDOPB); Erlaster Sotto, SVP, BDO Capital and Investment Corp. (BDO Cap); Eduardo Francisco, president BDO Cap; and Martin Ordonez, FVP, BDOPB.

07-29-11 BDO is Phil’s no. 1 bank – The Banker

BDO Unibank, Inc. (BDO) retained its rank as the Philippines’ top bank based on The Banker’s Top 1000 World Banks 2011 annual survey. Worldwide, BDO occupied the 383rd spot, climbing 13 notches from its previous world ranking of 396.

The rankings are based on the definition of Tier 1 capital as prescribed by Basel's Bank for International Settlements (BIS). Tier 1 capital includes loss-absorbing capital, disclosed reserves, retained earning and minority interests in the equity of subsidiaries that are less than wholly owned.

BDO, which provides industry-leading corporate, retail, investment banking and insurance services, is a recipient of various accolades from both local and international award-giving bodies, including Euromoney, FinanceAsia, Asiamoney and Wall Street Journal.

07-26-11 Yokohama taps BDO as retirement fund trustee

TIRE manufacturing firm Yokohama Tire Philippines, Inc. (YTPI) has selected BDO Unibank, Inc. (BDO) as trustee and investment manager of its employees' Defined Benefit Retirement Fund.

The retirement trust agreement between the parties was sealed in a signing ceremony recently held at the YTPI office in Clark Freeport Zone, Pampanga.

Present during the signing were (standing from left) YTPI accounting section manager Lorna Cervantes, BDO trust business development specialist Catherine Alvarado, BDO-institutional banking group (IBG) Japan Desk Charlene Gabasa, BDO trust business development officer, Bernadette Sevillano, BDO Clark-SEZ Centennial branch head Ric Datu(seated from left): YTPI AVP - administration division Angelina Casasola, YTPI corporate planning department head Marilou Peniano, YTPI EVP - administration division Tadaharu Yamamoto, YTPI outgoing EVP Tomohiro Yoneko, SVP- BDO trust and investments business development unit head Noel Andrada and BDO japan desk head Tsuguhisa Tanaka.

07-14-11 TPLEX successfully completes financial closing

THE Tarlac-Pangasinan-La Union Toll Expressway (TPLEX) project, one of the country's most important infrastructure undertakings to date, has wrapped up its financial closing, with BDO Unibank, Inc. (BDO) providing the bulk of its debt component.

The financial closing was formalized through the recent signing of the P11.5-billion term-loan facility among the lenders and the project's proponent Private Infra Dev Corp. (PIDC), an all-Filipino consortium led by Rapid Thoroughfares, Inc., DMCI Group and D.M. Wenceslao & Associates, Inc. Apart from BDO, the other participating banks were Development Bank of the Philippines and Land Bank of the Philippines.

The TPLEX project, with an estimated cost of P19 billion, is being undertaken via a build-operate-transfer (BOT) contract between the government -- through the Department of Public Works and Highways (DPWH) and Toll Regulatory Board (TRB) -- and PIDC. It is an 88.58-kilometer (km), two-lane travel way (with provisions for widening) traversing from La Paz, Tarlac to Rosario, La Union. Once completed, it will reduce significantly the current travel time from Manila to Baguio.

Phase 1 or the construction of the two-lane travel way would be completed in five years.

"TPLEX is a momentous project because it has many firsts to its credit. It is the first all-Filipino owned public-private partnership (PPP) project; the first PPP project funded by all-Filipino banks; and, the first toll road project under the PPP that completed its financial close," said BDO president Nestor V. Tan.

Shown in photo are representatives from the banks and proponents of the Tarlac-Pangasinan-La Union Toll Expressway (TPLEX) project. Seated second row (from left): Ed Francisco, president, BDO Capital & Investment Corp.; Joseph Pineda, SVP-Deputy CFO San Miguel Corp (SMC).; Samson Lazo, president, Private Infra Dev. Corp. (PIDC); Jorge Consunji, president/COO DMCI; Francisco Del Rosario Jr., president, Development Bank of the Phils., David Consunji, chairman, DMCI Holdings, Inc.; Public Works and Highways Sec. Rogelio Singson; Ferdinand Constantino, SVP/CFO, SMC; Nestor Tan, president, BDO; Isidro Consunji, president, DMCI Holdings, Inc.; Gilda Pico, president/CEO Land Bank of the Phils. (LBP); Rogelio Murga, chairman, PIDC; Walter Wassmer, SEVP, BDO; Delfin Wenceslao Jr., president, D.M. Wenceslao & Associates, Inc.

Seated first row (from left): Susan Atienza, VP, BDO; Jose Amado Angeles, VP, J.V. Angeles Construction Corp.; Anthony Fernandez, president, First Balfour, Inc.; Gerardo Pancho, president and GM, C.M. Pancho Construction; Susan Prado, SVP, DBP; Antonio Evangelista, chairman/CEO, New Kanlaon Construction, Inc.; Myra Reinoso, CFO, PIDC; Noelito Policarpio, president, R.D. Policarpio & Co., Inc.; Cecilia Borromeo, EVP, LBP; Augusto Manalo, president/COO, J.E. Manalo & Co. Inc.; John Bautista, president, Rockford Development Corp.; Roberto Jose Castillo, president, EEI Corp.; and Cynthia Hilario, AVP, BDO.

07-12-11 MoneyGram now offers remittance direct to BDO account

BENEFICIARIES with accounts in BDO Unibank, Inc. (BDO) can now receive remittances straight to their bank accounts following a recent agreement with MoneyGram, a leading worldwide money transfer company.

The said service would soon be launched in MoneyGram locations worldwide to heighten convenient access and allow beneficiaries to receive remittances the fastest way possible. Apart from offering credit to BDO account in MoneyGram outlets, money senders may also remit online through www.emoneygram.com.

Once the money has been credited to a BDO account, the client may claim his/her remittance from any of the more than 1,400 BDO ATMs or from over 10,000 Expressnet, Megalink and Bancnet ATMs nationwide. Clients may also withdraw over the counter from about 730 BDO branches all over the country, with some open even on weekends and holidays. For those who don’t have BDO accounts yet, applying for one is very easy as all they have to do is to open with only P50 initial deposit and they may start receiving remittances through their BDO peso account.

The partnership for the credit to account service is a milestone for both companies. BDO is the only Philippine bank exclusively accredited by MoneyGram for its credit to bank account in the country. For MoneyGram, the said service marked its first foray in the Asia-Pacific market. The global firm, with a huge network of 233,000 local agents across 191 countries and territories, recognizes the Philippines as one of the most important remittance markets in the world.

06-17-11 BDO presents once in a lifetime spectacle in Cirque du Soleil

AN ensemble of world-class performers in one astonishing show and a leading bank best known for its innovative products and services. Together, they will create a thrilling experience unparalleled by the others.

BDO Unibank, Inc. will co-present the staging of Cirque Du Soleil’s Varekai in the Philippines, one of the world’s best circus performances, to date. The much-anticipated touring show will happen in Rizal Park Grounds, Manila, and will run from June 22 to July 24, 2011.

“BDO and Cirque du Soleil share common denominators -- creativity, strength and flexibility. We provide the best products and services to our clients, and Cirque always gives the audience the best performance there is. The combination is indeed a great fit,” the Bank said.

Valued Bank clients will get the chance to enjoy the top-notch show during the “Special BDO Night”. And throughout Varekai’s month-long run, special door prizes will be exclusively given to BDO customers. Non-BDO clients are also welcome to visit the BDO booth for special treats.

Cirque du Soleil is a Canadian Entertainment Company that produces dramatic mix of circus arts and street entertainment since the early 80s. Each show is a fusion of circus styles from around the world, with its own central theme and storyline. Over the years it has expanded, going from one show to 19 shows in over 271 cities on every continent except Antarctica.

Some of Cirque’s famous shows and still running worldwide are Saltimbanco, Mystere, Alegria, Zumanity, Love, Viva Elvis and O. For its Manila show, Cirque du Soleil will amaze the audience with Varekai (pronounced ver-ay-kie which means wherever in the Romany language of the gypsies), a captivating story that tells the adventures of a young man who descended from the sky into the world searching for a place or realm called Varekai.

Magnificent costumes, awesome backdrops, and never before seen movements that challenge the limits of space and time all come together in a class act that Filipino viewers have yet to witness and will never forget. The Philippines is the third Asian country to host the show, following Taipei and Seoul.

06-16-11 BDO successfully closes Tier 2 Notes Offer

Banco De Oro Unibank, Inc. (“BDO”) successfully closed yesterday its offer of Unsecured Subordinated Notes qualifying as Tier 2 capital (“T2”).

BDO closed the offer period on 15 June 2011 two days ahead of the original scheduled close of 17 June 2011, mainly due to oversubscription from various retail and institutional investors. Total orders reached close to Php10 billion. As such, BDO revised its indicative issue size from Php5 billion to at least Php8 billion.

The BDO T2 Notes were priced at 6.50 % p.a. and will have a maturity of 10 years and 3 months from issue date, with a call option exercisable by the Bank after 5 years. The issue date is set for 27 June 2011.

This transaction is the fourth successful issuance of Tier 2 Notes by BDO, meant to fund its expansion plans and enhance the Bank’s capital adequacy ratio, which stood at 14% as of 31 March 2011.

Deutsche Bank AG, Manila Branch (“DB”) and The Hongkong and Shanghai Banking Corporation Limited (“HSBC”) acted as Joint Lead Arrangers, Joint Bookrunners and Selling Agents for the transaction. Multinational Investment Bancorporation (“MIB”) was also designated as selling agent and market maker, while BDO acted as limited selling agent for the transaction.

About BDO

BDO is a full-service universal bank that provides a complete array of industry-leading products and services to the retail and corporate markets including Lending (corporate, middle market, SME, and consumer), Deposit-taking, Foreign Exchange, Brokering, Trust and Investments, Credit Cards, Corporate Cash Management, and Remittances. Through its subsidiaries, the Bank offers Leasing and Financing, Investment Banking, Private Banking, Bancassurance, Insurance Brokerage, and Stock Brokerage services. BDO has one of the largest distribution networks, with over 700 operating branches and more than 1,400 ATMs, nationwide. As of 31 March 2011, BDO maintained its position as the country’s largest bank in terms of total resources, customer loans and total deposits, and had the second largest assets under management, based on published statements of condition. For more information, please visit www.bdo.com.ph.

05-29-11 BDOLF targets to grow loans and profits in 2011

BDO Leasing and Finance, Inc. (BDOLF) will look for ways to widen its loan portfolio amid a stable outlook on the economy this year.

At the sidelines of the company’s annual stockholders’ meeting Monday, its president Georgiana Gamboa said they will continue to find the niche markets and support clients whose needs remain unserved by banks. In particular these are markets that need the Factoring of Receivables and Leasing products.

“Right now our products and services are extended to different provinces and key cities by virtue of the extensive Banco De Oro (BDO) branch network, which are strategically located all over the country. Because of this, clients are able to enjoy the same products and services wherever they may be. The plan is to further expand our geographical coverage to reach out to more clients,” she said.

Gamboa also said serving the corporates and customers from the SME (small medium enterprise) segment will likewise remain one of BDOLF’s priorities, as it improves on its platform to accommodate a more dynamic transaction environment.

BDOLF’s loan and lease portfolio as of December 2010 amounted to P14.6 billion, up 28 percent from the previous year. The company’s financial standing also continued to be strong, posting a net profit of P309 million and revenues of P2.04 billion at the end of 2010. BDOLF still remains the best capitalized among the local financing companies with stockholders equity of P4.5 billion. This is more than sufficient to support businesses if and when they need financing.

Its stable performance was sustained in the first quarter of 2011, with its net profit increasing to P70.7 million from the same period last year. BDOLF targets a double-digit growth in its net profit for the full year of 2011.

05-17-11 Blue from American Express Launch

GREAT THINGS HAPPEN WITH BLUE

For one exclusive night, American Express painted the town BLUE.

April 27, 2011 marked the launch of another iconic Credit Card – Blue from American Express. Carrying the same brand of prestige and exclusivity afforded by American Express to its privileged clientele, Blue from American Express offers a full range of superior and exclusive benefits, perks, and web-based features tailored fit to cater to the lifestyle needs of the young and dynamic.

The key benefits of Blue from American Express include:

Express Access to hotspots such as clubs, bars and events
Instant Rewards and Savings at restaurants and retail outlets through the Blue Treats program
Introductory Finance Charge of 0% up to October 31, 2011
Free membership for the first year and a low monthly fee thereafter for the Card
Payment convenience through BDO’s wide payment networks

Republiq, Manila's premier nightlife destination, was the perfect setting for the unveiling of the Philippines' first transparent credit card targeted towards the young privileged market. The who's who in the Metro's social circle attended the event and enjoyed a night of pure fun, revelry and partying courtesy of Blue from American Express. DJ Mark Nicosia, Republiq in-house DJ, entertained the crowd with his signature club mix and spins. While Fil-American singer Amber Davis heated up the stage with her sizzling and fierce song numbers.

For more information about Blue from American Express, please call 631-8000.

A toast for Blue from American Express. (L-R) Ophie Camiña, Senior Vice President, BDO Consumer Lending Group Cards Issuing Business Head; Rolly Tanchanco, Executive Vice President, BDO Consumer Lending Group Head; Katrina Stuart, Vice President and Group General Manager, American Express Global Network Services Japan, Asia Pacific, Australia; James Younghusband; Georgina Wilson; Phil Younghusband; Kula Kulendran, Senior Vice President, Head of Global Network Services, American Express, Japan, Asia Pacific & Australia; Nannette Regala, First Vice President, BDO Consumer Lending Group Marketing Head.

05-17-11 The Asset names BDO as one of Phil’s bests

BANCO De Oro Unibank, Inc. (BDO) has received major citations from the recently held The Asset Triple A Awards 2011 of the Hong Kong-based investment magazine The Asset.

The Bank was named the best in the Philippines in these categories: Best SME Bank, Best Trade Finance Bank (Domestic) and Rising Star Cash Management Bank.

As the Best SME Bank, The Asset cited BDO’s expansion efforts in “its delivery channels and product enhancements to better connect with their clients”. Likewise, the foreign publication lauded the Bank’s “excellent execution of trade finance products and services”. BDO also deserved the Rising Star Cash Management Bank Award for the vast development it implemented, particularly in the areas of product and channel enhancements, The Asset added.

The Asset Triple A Awards is Asia’s defining recognition for excellence in the industry.

In photo (from left) are BDO senior vice president Jaime M. Nasol and executive vice president Edmundo S. Soriano receiving the awards in a formal dinner held in Hong Kong.

04-26-11 BDO, WWF partner for a good cause

Banco De Oro Unibank, Inc. (BDO) and WWF-Philippines have teamed-up for a cause that would help sustain and manage the whaleshark eco-tourism program in Donsol, Sorsogon through research and data and environmental protection management. The ATM network of BDO serves as conduit for easy and affordable way to assist the WWF-initiated drive, the first of its kind in the entire WWF organization.

Shown in photo are, from left, BDO head for branch banking Jaime C. Yu; WWF-Phils. President Lory Tan; WWF-Phils chairman Vince Perez; WWF-Phils Board of Trustees member Elizabeth T. Sy; BDO presdient Nestor V. Tan; and Jovy Pereche, BDO head for ATM channels operations.

04-18-11 BDO cited for good investor relations efforts

THE Hong Kong-based Alpha Southeast Asia has named Banco De Oro Unibank, Inc. (BDO) as among the top three Philippine companies with the Most Organized Investor Relations in its recent Southeast Asia's Institutional Investor Corporate Awards.

BDO, in the said category, is joined by parent firm SM Investments Corp. (SMIC) and Megaworld.

The selection of the winners was based on collected votes from more than 450 investors and analysts across the region. Alpha Southeast said the voters included fund managers with investment interests in Southeast Asia, large institutional investors, insurance companies, pension funds, funds of hedge funds, private banks, equity and fixed income brokers as well as buy and sell-side analysts.

Alpha Southeast Asia is the first and only institutional investment magazine entirely focused on Southeast Asia.

03-10-11 BDO holds SME forum for Bulacan clients

BANCO De Oro Unibank, Inc. (BDO) has chosen the province of Bulacan as venue for the “Grow Your Business with BDO” SME forum, its first for this year.

Similar to what the Bank has done in its previous forums in Batangas, Cavite, Cabanatuan, Davao and Cebu, the event, attended by more than 200 existing clients, featured an expert on entrepreneurship and resource speakers from BDO.

Entrepreneurship guru prof. Andy Ferreria gave helpful tips on running a business while BDO FVP and chief market strategist Jonathan Ravelas discussed the current state of the economy and outlook for the near-term. SEVP for institutional banking Walter Wassmer and SVP Rhoda Orsolino briefed the clients of the Bank's wide-ranging loan products; SVP for transaction banking group (TBG) Jaime Nasol oriented the audience on cash management, including collection and disbursement tools specifically for SMEs; BDO VP for business mortgage Dulce Alimbuyuguen tackled business mortgage loans; and BDO Leasing and Finance (BDOLF) president Georgiana A. Gamboa presented leasing opportunities accessible to clients.

BDO president Nestor V. Tan, who led the question and answer portion, said hosting the “Grow Your Business with BDO” forum in key areas around the country, is the Bank's way of reaching out to small businesses.

Shown in photo are, from left, BDO president Nestor Tan, BDOLF president Georgiana Gamboa and BDO vice chairman Jesus Jacinto, addressing queries from the audience.

03-03-11 BDOLF’s loan portfolio surges 28% in 2010

BDO Leasing and Finance, Inc. (BDOLF) ended 2010 with a 28-percent growth in loan portfolio to P14.58 billion from P11.39 billion the previous year.

The company, which is a subsidiary of BDO Unibank, Inc., said the increase was largely attributed to management's renewed focus on corporate accounts.

As a result, BDOLF’s net income last year improved to P308.7 million from P300.0 million in 2009. Gross income, meanwhile, amounted to P2.04 billion.

The company also managed to reduce by 7 percent last year its past due accounts to P665.0 million from P715.3 million in 2009.

BDOLF provides leasing and financing products to commercial clients. Its leasing products include direct leases, sale-leaseback arrangements and operating leases. Financing products, on the other hand, include commercial and retail loans, installment paper purchase and factoring of receivables. Loan availments of clients are used to finance the purchase of automobiles, trucks, office equipment, industrial, agricultural and office machinery, and real property, and financial assets such as receivables.

02-28-11 BDO posts audited 2010 net income of P8.8 billion

BANCO De Oro Unibank, Inc. (BDO) ended 2010 with an audited net income of P8.8 billion, up 46 percent from the P6 billion it earned a year before, and exceeding its initial earnings guidance of P8.1 billion.

The Bank, prior to the income release, has reported that its consolidated resources hit the P1-trillion mark at the end of 2010, making it the first Philippine bank to achieve that milestone.

BDO’s strong performance was a result of a more diversified and sustainable earnings stream from its core lending, deposit-taking and service businesses. Gross customer loans expanded 15 percent to P541.5 billion with firm growth across all business segments. Total deposits, meanwhile, rose 13 percent to P782.6 billion. A larger earning asset base coupled with lower funding costs resulted in the 12-percent increase in net interest income to P34.2 billion. The Bank’s fee-based service income likewise grew to P10.4 billion on strong contributions from trust, private banking, remittance, transaction banking, insurance, investment banking, and credit cards.

BDO continued efforts to prudently manage the balance sheet to protect it through economic cycles. It boosted provisions to P6.7 billion and raised non-performing loan (NPL) coverage to 92 percent from 80 percent a year ago, despite the decline in the gross NPL ratio to 4.7 percent from the previous year’s level of 5 percent. Capital Adequacy Ratio (CAR) remained sound at 14 percent, well above the current regulatory minimum of 10 percent.

Return on average Common Equity improved to 11.7 percent in 2010 compared to 10.4 percent in 2009. Following its solid financial performance in 2010, the Bank hopes to build on its gains to pursue further growth opportunities to enhance shareholder value.

About BDO

BDO is a full-service universal bank that provides a complete array of industry-leading products and services to the retail and corporate markets including Lending (corporate, middle market, SME, and consumer), Deposit-taking, Foreign Exchange, Brokering, Trust and Investments, Credit Cards, Corporate Cash Management, and Remittances. Through its subsidiaries, the Bank offers Leasing and Financing, Investment Banking, Private Banking, Bancassurance, Insurance Brokerage, and Stock Brokerage services. BDO has one of the largest distribution networks, with over 700 branch licenses, and more than 1,400 ATMs, nationwide. As of December 31, 2010, BDO maintained its position as the country’s largest bank in terms of total resources, customer loans, total deposits, and assets under management.

02-18-11 BDO Private Bank wins third straight from Euromoney

FOR the third year in a row, BDO Private Bank, a wholly owned subsidiary of BDO Unibank, Inc. (BDO), is named the Best Local Private Bank in the Philippines by one of the world's leading financial publications, Euromoney.

The citation was based on the annual private banking survey conducted by Euromoney, which provides a qualitative and quantitative review of the best services in private banking by region or by areas of service. The survey is an informative guide for high net-worth individuals on the range of professional wealth management service providers that are available. It is participated in by private banking professionals, fund managers and advisors, who are asked to rate their own institution and their peers.

Factors such as assets under management, profitability, ratio of clients to relationship managers and services offered, among other things, are all considered in developing the ranking of top private bank.

The complete list of winners is published in the February 2011 issue of Euromoney.

“BDO Private Bank has come a long way since 2003. Inspired by the pioneering spirit of BDO, we have focused on a unique opportunity and molded it into a viable and growing domestic business. Our open architecture platform, bespoke services and focus on client relationships earned the loyalty and trust of our clients, both in good and challenging times,” said BDO Private Bank president Josefina N. Tan.

BDO Private Bank took home the same award in 2009 and 2010.

02-01-11 BDO 's total resources reach P1.01-trillion in 2010

BANCO De Oro Unibank, Inc.'s (BDO) consolidated resources has breached the P1-trillion mark at the end of 2010, a 16-percent increase from the previous year's level of P862 billion.

The growth was driven by the steady performance of the Bank's various businesses. As such, BDO is also on track to attain its net income goal of P8.1 billion for the full year of 2010. The Bank has been aggressive in pursuing diverse opportunities to expand its product offerings and services, thus resulting to stable margins. It aims to continuously do well by leveraging on its operating scale and maintaining good growth in its core businesses.

As of end September 2010, BDO posted a net income of P6.4 billion, up 58 percent over the same period in 2009, on the back of sustained growth in business volumes amid a tempered hike in operating expenses.

BDO is a full-service universal bank that provides a complete array of industry-leading products and services to the retail and corporate markets including lending (corporate, middle market, SME, and consumer), deposit-taking, foreign exchange, brokering, trust and investments, credit cards, corporate cash management, and remittances. Through its subsidiaries, it offers leasing and financing, investment banking, private banking, bancassurance, insurance brokerage, and stock brokerage services. The Bank has one of the largest distribution networks with over 700 branch licenses and more than 1,400 ATMs, nationwide.

It is a recipient of various recognitions from leading international institutions, which include Finance Asia, Alpha Southeast Asia, The Banker, The Asset, Asiamoney and the Asia CEO Awards.

01-25-11 BDO UITFs consistently give competitive returns

THE trust and investments group of Banco De Oro Unibank, Inc. (BDO) has rewarded its clients last year with competitive returns on investments (ROI) from its various unit investment trust funds (UITF).

Figures showed that the ROIs of the Bank’s UITFs, namely, the Peso Money Market Fund, Peso Bond Fund, Government Securities (GS) Fund, Peso Fixed Income Fund, Peso Balanced Fund, Equity Fund, Dollar Money Market Fund, Dollar Bond Fund and Medium-Term Dollar Bond Fund, have performed better versus their respective benchmarks.

For instance, BDO’s Equity Fund for 2010 outpaced the benchmark PSE index (PSEi) by 12.97 percent with the former earning 50.59 percent compared to the latter’s 37.62 percent.

The same trend was likewise displayed by the Peso Balanced Fund, which posted a ROI of 39.81 percent in 2010 compared with the 19.02 percent performance of its benchmark – the average PSEi and the Bloomberg average 30-day special savings rate.

Ador Abrogena, executive vice president for BDO’s trust and investment group, said the Bank’s UITFs did not only perform well vis-à-vis their respective benchmarks in 2010 but also in the last five years, which included a global downturn in asset prices.

“Fund returns are normally compared to a benchmark which is a standard that has the same risk return characteristics as the fund being rated. The standard normally used is an index that represents the market for the securities that the fund invests in,” Abrogena said.

He added the returns from UITFs were commensurate with the risks taken by each UITF – high returns entail high risks and low risks produce low returns.

UITFs are open-ended pooled trust funds operated and administered by a trust entity and made available by participation. Funds from various investors with similar investment objectives are pooled together into one fund, which the trust entity invests in different types of securities with the aim of maximizing returns within the level of risk allowed for that particular fund.

Trust and investments is just one of the industry-leading products and services being provided by BDO to the retail and corporate clients. The Bank is also into lending, deposit-taking, foreign exchange, brokering, credit cards, corporate cash management and remittance. It also has subsidiaries that offer leasing and financing, investment banking, private banking, bancassurance, insurance brokerage and stock brokerage services.

TABLES:

2010 ROI of BDO UITFs vs BENCHMARK

BDO UITF	BDO UITF Performance (net)	Benchmark (net)	Benchmark Performance (net)	BDO Outperformance
Peso Money Market Fund	3.55%	Bloomberg Ave 30-D SSA	2.19%	1.36%
Peso Bond Fund	9.10%	HSBC 1-3 Yr Bond Index	5.47%	3.63%
GS Fund	10.71%	HSBC 1-5 Yr Bond Index	6.48%	4.23%
Peso Fixed Income Fund	11.10%	HSBC 1-5 Yr Bond Index	6.48%	4.62%
Peso Balanced Fund	39.81%	Ave of the PSEi and the Bloomberg Ave 30-D SSA	19.02%	20.79%
Equity Fund	50.59%	PSEi	37.62%	12.97%
Dollar Money Market Fund	1.86%	US$TD Rate fm Bloomberg	0.37%	1.49%
Dollar Bond Fund	4.30%	1-3Yr ROP Index	3.10%	1.20%
Medium-Term Dollar Bond Fund	7.02%	3-5Yr ROP Index	4.61%	2.41%

*Philippine Stock Exchange Index

FIVE YEAR (2006-2010) ROI of BDO UITFs vs BENCHMARKS

BDO UITF	BDO UITF Performance (net)	Benchmark (net)	Benchmark Performance (net)	BDO Outperformance
Peso Money Market Fund	23.33%	Bloomberg Ave 30-D SSA	15.78%	7.55%
Peso Bond Fund	35.04%	HSBC 1-3 Yr Bond Index	30.35%	4.69%
GS Fund	38.88%	HSBC 1-5 Yr Bond Index	34.56%	4.32%
Peso Fixed Income Fund	39.78%	HSBC 1-5 Yr Bond Index	34.56%	5.22%
Peso Balanced Fund	79.33%	Ave of the PSEi and the Bloomberg Ave 30-D SSA	58.02%	21.31%
Equity Fund	124.22%	PSEi	100.43%	23.79%
Dollar Money Market Fund	19.28%	US$TD Rate fm Bloomberg	3.78%	15.50%
Dollar Bond Fund	29.82%	1-3Yr ROP Index	24.39%	5.43%
Medium-Term Dollar Bond Fund	38.82%	3-5Yr ROP Index	27.78%	11.04%

01-03-11 BDO named as one of the world's best trade finance banks

THE New York-based Global Finance magazine has named Banco De Oro Unibank, Inc. (BDO) as one of the world's best trade finance banks for 2010.

BDO was cited the best in the Philippines by Global Finance editors, with inputs from industry analysts, corporate executives and technology experts. The winners were evaluated based on their transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies.

The list of best trade finance banks by region or country will be published in the February 2011 issue of the magazine.

“The availability of trade finance at reasonable prices is crucial to the health of the global economy. We have selected the banks that are best serving the needs of corporations worldwide as they engage in cross-border trade,” says Global Finance publisher and president Joseph D. Giarraputo in a statement.

Earlier, the same magazine cited BDO as one of the world's best foreign exchange providers for 2010.

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