News Archive

• 12-03-09 CDO cites BDO's contribution to growth

  WHAT started as a mere backyard business in their residence in Valenzuela City 35 years ago, is now a certified successful enterprise.

  Corazon D. Ong, the entrepreneur behind CDO Foodsphere, Inc., said perseverance, innovative ideas and hard work as well as the funding support made available by Banco De Oro Unibank, Inc., are behind the company's phenomenal growth.

  "BDO really played a major role in our business growth. Through the years they have continuously provided us with the financial support we need for additional working capital and fixed assets acquisition," Ong, vice chairman of the company, said at the sidelines of the SME Forum recently hosted by BDO in Batangas.

  BDO, for its part, considers CDO as one of its valued corporate clients and is very proud of what the food manufacturer has achieved over the years. BDO recognizes the reciprocal business CDO has been contributing to the Bank through the years.

  Ong explained that apart from for plant expansion, the BDO loan facility was also used for short term needs such as the purchase of raw materials from local suppliers and imported sources.

  CDO inaugurated on June 26, 2009 its mega-plant and production facilities in Malvar, Batangas. This new and state-of-the-art plant will not only play a significant part in revitalizing the business and boosting livelihood opportunities in the province, but will also bolster the food supply and ensure food security in the country.

  Despite the global economic downturn, the local meat processing industry remains resilient and steadfast in providing employment and supplying meat products to consumers. Industry analysts even project an eight to ten percent cumulative growth for the industry this year.

  "Our main product is food, which is a basic need. Thankfully, we were not affected [by the global crisis]. We have loyal consumers from the A,B, C and D markets. Volume actually increased because of the increase in population," explained the 65-year-old Ong.

  The company is behind the best-selling products like CDO Karne Norte, CDO Bibbo! Hotdog, CDO Meatloaf, CDO Hamburger Patties, CDO Holiday Ham, Samba Corned Beef and the recently launched San Marino Corned Tuna (canned).

  CDO products are currently being exported to Qatar, UAE, Saudi Arabia and Japan.

• 11-03-09 BDO'S Promo for Remittance Clients

  BANCO De Oro Unibank, Inc. (BDO) has launched a new promo that will give clients opening new BDO Kabayan Savings account the chance to win huge prizes.

  With "Easy Asenso, Instant Panalo..Hatid ng BDO sa Pamilyang OFW", customers availing of the Bank's special remittance account for overseas workers and their beneficiaries, will earn the chance to win P10,000 worth of grocery items; P40,000 worth of Home Appliance Shopping; and a brand new Nissan Sentra 1.3 GX M/T.

  The promo period will run from November 3 to October 31, 2010. All account openings made during the said period are automatically enrolled in the electronic raffle.

  For the grocery and home appliance shopping sprees, a total of eight winners will be drawn in February, March, August and November 2010, while one lucky account holder will be drawn on November 14, 2010 and take home the Nissan Sentra. All raffle draws will be held at the BDO Remit Building in Sen. Gil Puyat cor. Paseo de Roxas, Makati City.

  Opening a BDO Kabayan Savings Account only requires a minimum initial deposit of P50 and a valid ID. Clients can go to any of BDO's nearly 700 branches nationwide. A peso account comes with an International ATM card and a passbook for quick reference to their transactions. The dollar account, meanwhile, only requires a minimum initial deposit of US$100 which also comes with a passbook. For seafarers, they may also open their own BDO Kabayan Shipping Dollar Savings Account with a minimum initial deposit of US$ 10, which also comes with a passbook for easy reference.

  Having a BDO Kabayan Savings account will also encourage beneficiaries to save money since there's no need to withdraw the whole amount sent by their loved ones from abroad. BDO ATMs are also found in all SM malls, where they can buy their household needs and withdraw remittance under the same roof. BDO International ATM card can also be used as a debit card in SM Department Stores and all establishments with Express Payment System (EPS) terminals. Again, no need to carry huge cash since purchases are settled with just one swipe.

  Filipinos based abroad may visit any BDO Remit office in Hong Kong, Macau, United States, Italy and Germany, where they can send remittances to BDO Kabayan Savings accounts. BDO has a wide remittance network abroad as it also has thousands of remittance partners and agent locations in Asia and Oceania, Australia, Middle East, North America and Europe that offer BDO Remit services. BDO also offers a unique and easy way to check the status of remittance from the time it is sent, to the time it is delivered. For customers who have access to the internet, just visit www.bdo.com.ph and click BDO Remit Inquiry.

• 10-27-09 BDO profits surge in 3Q09

  Building on earlier gains and leveraging on its various competitive advantages, Banco De Oro's (BDO) loans, deposits, net interest income and fee-based income sustained their growth. Income from trading activities also increased given a more stable financial environment.

  The Bank reported a net income of P1.9 billion as of the 3rd quarter this year, or 70 percent higher compared to the previous quarter's earnings. This brought the Bank's 3Q year-to-date net profit to P4 billion, or 159 percent more than the P1.6 billion earned in the same period last year.

  Gross customer loans expanded 16 percent year-on-year to P424.5 billion with continued broad-based demand from all market segments. Deposits, likewise, rose 12 percent year-on-year to P643.8 billion with additional branch redeployments and steady growth in low-cost deposits.

  Net interest income for the nine-month period grew 31 percent year-on-year to P22.3 billion. Interest income climbed 21 percent given the larger loan levels while interest expense went up by a slower 7 percent pace given an improved funding mix.

  In spite of the possible impact of the recent typhoons, the Bank is maintaining a positive outlook for the rest of the year and next, and is optimistic about meeting its full-year profit target of P5.5 billion.

• 10-19-09 BDO Waives Remittance Fee for Flood Donations

  BDO UNIBANK Inc., the country's top remittance bank, has waived its remittance service fees on donations sent to institutions participating in relief efforts for victims of Typhoon Ondoy.

  The bank, through its remittance offices in Hong Kong, Macau, USA, Italy and Germany, said there are no service fees charged on cash donations sent to BDO Foundation and ABS-CBN Foundation Inc.'s Sagip-Kapamilya.

  A number of remittance partners of BDO all over the world have also given their commitment on this effort. In Asia, for instance, those participating are BTI Pesos Express in Singapore, Afima Express in Brunei, EEC International Phil Corp. in Taiwan and Forex World Australia PTY., LTD. In the US and Canada, BDO's remittance partners Chartered Forex, E-Pera Corp., Mercury Quick, New York Bay and Continental Exchange are also helping by waiving the remittance fees for the said institutions. The same goes for CBN Grupo, Global Express Money Remittance and Safe Transfer Ltd in Europe and BDO's remittance partners in the Middle East - Leela Megh Exchange, Al Ansari Exchange and Al Ghurair Exchange. BDO has also arranged with its global money transfer company partner Xoom Corporation to waive the service fee for all remittances credited to the Philippine Red Cross account.

  A day after Typhoon Ondoy hit Metro Manila and some parts of Luzon, the Bank started receiving queries from OFWs and Filipinos residing abroad on how they can send donations to those affected and make sure that their contribution will reach the recipients.

  With the cancellation of the remittance service fees, concerned Filipinos abroad will be encouraged to send monetary help to victims of the typhoon.

• 10-15-09 BDO Leasing Inks Agreement with ASIA INT'L. Autioneers

  LISTED BDO Leasing and Finance, Inc. (BDOLF) has taken a new client on board.

  BDOLF recently signed a memorandum of agreement (MOA) with Asia International Auctioneers, Inc. (AIAI), accrediting it as partner leasing and finance company. As such, BDOLF will make available its financing services to customers of AIAI.

  AIAI, a reputable domestic corporation operating within the Subic Bay Freeport Zone, Subic Bay, Olongapo City, regularly conducts auction sales for used trucks, motor vehicles, heavy construction and industrial equipment. The company arranged the financing services with BDOLF to enhance its sales through quarterly auctions or via negotiated deals.

  Shown in photo (seated from left) are Gerard M. Aguirre, FVP-BDO Leasing & Finance, Inc.; Federico A. Sibal General Manager, Asia International Auctioneers;and Ma. Theresa M. Soriano, SAVP-BDO Leasing & Finance. Standing from left are Atty. Paulino Cases and Richard Chan of Asia International Auctioneers; Peter Paul Rigor, account officer, BDO Leasing & Finance; Sheryl Calamiong, administration officer, BDO Leasing & Finance; Lani M. Rayos comptroller, Asia International Auctioneers; and Rommel Paguio, account officer, BDO Leasing & Finance.

• 10-14-09 BDO Remit Partners with Bank of New York Mellon

  A NEW YORK-based asset management and securities firm has tapped BDO Remit as payout agent for its low-value payment processing platform.

  BDO Remit will service the Bank of New York Mellon's Remit Worldwide, a product launched in February 2008 enabling client US retail banks to facilitate worldwide remittances.

  The strategic partnership would mean a secure, reliable, and convenient remittance service, especially for the Overseas Filipinos working and residing all over the world.

  Present during the signing of the memorandum of agreement were BNY Mellon EVP & Global Head of Sales and Relationship Management for Treasury Services David Cruikshank, BNY Mellon Managing Director & Head of Treasury Services for Asia Richard Brown, BNY Mellon VP & Chief Representative Teri Floro, BDO SVP & Head of Transaction Banking Group Ismael G. Estela, Jr., BDP VP & Unit Head of Financial Institution Peter C. Bautista Jr., BDO EVP & Head of Treasury Group Pedro Florescio III, BDO FVP & Head of Central Operations Group Trade Services Department Celia Sotto and BDO FVP & Head of Remittance International Operations Jonathan C. Diokno.
  

• 10-12-09 BDO Holds SME Forum in Batangas

  Banco De Oro Unibank, Inc. successfully held a forum for small and medium enterprises (SMEs) in Batangas late last month.

  With the theme "Grow Your Business with BDO", the forum brought together a number of entrepreneurs with businesses in the area. The clients received helpful information from industry experts, including Jonathan L. Ravelas, BDO chief market strategist; Corazon D. Ong, vice chairman of CDO Foodsphere, Inc.; and Dr. Eduardo A. Morato Jr., chairman of the ACE Center for Entrepreneurship and Management Education and president of ABS-CBN Bayan Foundation Inc. Walter C. Wassmer, Jaime M. Nasol and Nestor V. Tan of BDO also attended the event and participated in the Q and A.

  BDO has a wide range of business banking solutions that can meet the needs of SMEs in Luzon, Visayas and Mindanao.

  Shown in photo were (from left) BDO SVP B. Rhoda Orsolino, BDO SVP Ismael E. Estela Jr., Dr. Eduardo A. Morato Jr., CDO Corporate Treasurer Charmaine D. Ong, CDO Vice Chairman Mrs. Corazon D. Ong, BDO President Nestor V. Tan, BDO SEVP Walter C. Wassmer and BDO Chief Market Strategist Jonathan L. Ravelas.

• 09-29-09 HK-Based Magazine Recognizes BDO Private Bank

  Hong Kong-based institutional investment publication Alpha Southeast Asia Magazine has once again recognized BDO Private Bank as the Best Private Bank in the 3rd Annual Best Financial Institution Awards. Accepting the award from Alpha Southeast publisher and chief executive Siddiq Bazarwala (left) is BDO Private Bank president Josefina Tan

• 09-25-09 BDO Capital Awarded Anew

  For the third straight year, BDO Capital & Investment Corp. has been recognized by Hong Kong-based institutional investment publication Alpha Southeast Asia Magazine as the Best Investment Bank and Best Bond House in the recent Annual Best Financial Institution Awards.
  Receiving the award from Alpha Southeast publisher and chief executive Siddiq Bazarwala (left) is BDO Capital president Eduardo V. Francisco.

• 09-24-09 BDO Foundation Inaugurates Micro-Finance Center

  BDO Foundation, Inc. completed another effort in bringing micro-finance closer to the marginalized sector.

  Teresita Sy-Coson, chairperson of BDO, recently led the inauguration of the three-storey BDO Foundation Micro-Finance Center in Bgy. Tranca, Bay, Laguna. Build at a cost of P12 million, the facility will serve as venue for the training and development of microfinance programs of the CARD MRI Development Institute.

  "We believe that expanding the reach of micro-finance throughout the nation especially in the countryside will help alleviate the immediate financial concerns of the underprivileged and assist in financing or growing the entrepreneurial micro-businesses. This training center that we donated is intended to further enhance the current program of CARD MRI," said Sy-Coson, who spoke before the members of CARD MRI.

  Apart from donating the building, BDO will likewise provide additional support, sending volunteers from the Bank's Speakers Bureau to deliver talks and facilitate training activities on computer application, basic accounting, personality development, personal finance and skills training, among others.

  CARD MRI, who is spearheaded by Dr. Jaime Aristotle Alip, is the country's leading innovator in micro-finance. Known initially as CARD, it was established in 1986 as a social development institute to address the growing poverty incidence in depressed communities. It is now comprised of seven organizations committed to build sustainable financial and capacity-building institutions owned and led by socially and economically challenged families.

• 09-18-09 BDO Signs Investment MGT deal with SIPF

  The Trust and Investments Group of Banco De Oro Unibank, Inc. recently signed an Investment Management Agreement (IMA) with the Securities Investors Protection Fund Inc.(SIPF).

  BDO Trust, the largest trustee bank in the country to date, offers a wide range of trust and investment management services, while SIPF is a non-stock and non-profit corporation whose mandate is to create, maintain and administer a fund for the interest and promotion of the securities industry and for aiding and protecting investors and securities and members of the fund.

  The signing of the IMA was led by (from left) SIPF Investment Committee chairman Ismael G. Cruz, SIPF treasurer Marita A. Limlingan, SIPF chairman Atty. Rodolfo L. Samarista, BDO Trust and Investments Group executive vice president and trust officer Ador Abrogena, BDO Trust and Investments Group first vice president Noel L. Andrada and BDO Trust and Investments Group senior assistant vice president Maria Florencia P. Esguerra.

• 09-17-09 New Promo from SMART-BDO

  Banco de Oro Unibank (BDO) has tied-up with mobile giant Smart Communications for a bills pay promo that will run from Sept. 16 to Dec. 15, 2009.

  Payments to be made for Smart Gold or Smart Bro bill via over-the counter, ATMs, Internet Banking, Phone Banking or auto charge to BDO Credit Card will get the chance to win four (4) entrance tickets to Nido Fortified Science Discovery Center located at the Mall of Asia.

  There will be 100 winners per raffle draw scheduled on October 29, 2009, November 27, 2009 and January 8, 2010. Full details on the promo mechanics can be accessed on www.bdo.com.ph.
  

• 09-15-09 BDO Supports OWWA'S Model OFW of the year award

  RECOGNIZING nonstop the value of the Overseas Filipino Workers (OFWs) to the Philippine economy, Banco De Oro (BDO) has once again given its support to the 2009 Model OFW Family of the Year Award (MOFYA), an annual undertaking of the Overseas Workers Welfare Administration (OWWA).

  Since 2007, BDO has been joining the event, which recognizes the OFWs and their families who have managed and triumphed the impact of overseas employment and maintained strong family ties.

  There will be one winning OFW family from the land-based sector and one from the sea-based sector in each of the 17 regions across the country, bringing the total to 34 regional winners. Selected SM Malls were venues for the regional awarding held on September 1 to 6, 2009.

  From the regional winners, the land-based and sea-based national awardees will be chosen and given recognition at the MOFYA Awarding Ceremony to be held on November 6 at Sofitel Philippine Plaza, Manila

  "We want to be a part of this endeavor that gives proper recognition to the outstanding achievements of the OFWs and their families; promotes success stories about the OFW familiesf endurance over the challenges on their family relations; and uplift the image of the OFW families in the community," said Genie T. Gloria, vice president for BDO Remittance Domestic Operations.
  

• 09-14-09 BDO Private Bank Cited Anew

  LISTED BDO Leasing and Finance, Inc. (BDOLF) has taken a new client on board.

  BDOLF recently signed a memorandum of agreement (MOA) with Asia International Auctioneers, Inc. (AIAI), accrediting it as partner leasing and finance company. As such, BDOLF will make available its financing services to customers of AIAI.

  AIAI, a reputable domestic corporation operating within the Subic Bay Freeport Zone, Subic Bay, Olongapo City, regularly conducts auction sales for used trucks, motor vehicles, heavy construction and industrial equipment. The company arranged the financing services with BDOLF to enhance its sales through quarterly auctions or via negotiated deals.

  Shown in photo (seated from left) are Gerard M. Aguirre, FVP-BDO Leasing & Finance, Inc.; Federico A. Sibal General Manager, Asia International Auctioneers;and Ma. Theresa M. Soriano, SAVP-BDO Leasing & Finance. Standing from left are Atty. Paulino Cases and Richard Chan of Asia International Auctioneers; Peter Paul Rigor, account officer, BDO Leasing & Finance; Sheryl Calamiong, administration officer, BDO Leasing & Finance; Lani M. Rayos comptroller, Asia International Auctioneers; and Rommel Paguio, account officer, BDO Leasing & Finance.

• 09-10-09 BDO Foundation Supports Sight Preservation

  BDO Foundation, Inc. recently signed a memorandum of agreement with the Philippine Academy of Ophthalmology, Inc. for the donation of various specialized ophthalmology surgical equipment, optical instruments, supplies and spare parts worth about P38 Million.
  

  Philippine Academy of Ophthalmology, Inc. is the national organization of eye doctors in the country headed by Dr. Reynaldo Santos as President. PAOI will assist BDO Foundation, Inc. look for qualified beneficiaries for the donated equipment preferentially in government hospitals/ institutions with resource capabilities in charitable patient service and accredited residency training programs.
  

  With this donation as one of the highlights of the celebration of the “Sight Saving Month” last August, BDO Foundation hoped to play a role in the sight preservation of the underprivileged Filipinos.

• 09-08-09 BANKS' AUM REACH P1.65 TRILLION IN THE 1H '09

  THE total assets under management (AUM) by the various banks reached P1.650 trillion at the end of the first half 2009, 23.58 percent better than the 2008 level of P1.335 trillion.

  Based on an industry report, Banco De Oro Unibank, Inc., through its Trust and Investments Group (TIG), captured the top spot at the end of June 2009 accounting for 25.15 percent of the total or P414.990 billion. This was an increase of 22.7 percent from the end-December 2008 level of P338.173 billion.

  BDO currently offers nine unit investment trust funds (UITFs) catering to both individual and corporate clients and three other types solely for corporate clients. UITF is an open-ended pooled trust fund denominated in any acceptable currency. It is operated and administered by a trust entity.
  
  The Ayala-controlled Bank of the Philippine Islands (BPI), meanwhile, was ranked number two with P367.206 billion; followed by Metropolitan Bank & Trust Co., P201.849 billion; Standard Chartered Bank, P128.755 billion; China Banking Corp., P63.584 billion; ING Bank N.V. (Manila Branch), P57.50 billion; Land Bank of the Philippines, P57.473 billion; Rizal Commercial Banking Corp., P52.607 billion; Deutsche Bank AG P42.252 billion; and Hongkong & Shanghai Banking Corp., P41.80 billion. Other trustee banks represented P222.36 billion, the report added.

  Under the local set-up, trust funds are managed by banking institutions with licenses issued by the Bangko Sentral ng Pilipinas (BSP). Non-bank asset management companies operate mutual funds and are regulated by the Securities and Exchange Commission (SEC).

• 09-08-09 BDO and SM Partner with POEA for Balikbayan Center

  The SM Group, led by Banco De Oro Unibank, Inc. and SM Prime Holdings, in tandem with the Philippine Overseas Employment Administration (POEA) recently launched the SM Balikbayan Center, giving the Overseas Filipino Workers (OFWs) and their families easy access to various labor-related services.

  The maiden branch, located at the Atrium of SM Megamall, offers Pre-Employment Orientation Seminars (PEOS), list of licensed recruitment agencies, information on fraud and human trafficking, and other privileges such as discounts and free overseas communication.

  BDO and POEA have built solid partnership over the years in assisting Filipinos working abroad and their families. This year, the SM Group joined the mission to help OFWs by offering the network of SM Malls and various services to be accessible even on weekends.

  BDO, named as the country's top remittance bank for 2008, earlier sealed a partnership with POEA for the implementation of Pre-Deployment Orientation Seminar (PDOS) for Filipinos working abroad.

  The government requires departing Filipino workers to attend country-specific PDOS to help them address their adjustment concerns such as travel regulations, cultural differences, and settlement issues in their destination-countries.

  The seminars are conducted by POEA representatives at designated PDOS centers all over country. BDO will be sending representatives to all PDOS centers to tackle financial literacy tips, BDO Remit services and how the Bank can help OFWs manage their finances and put these to good investment through BDO's other products and services.

• 09-02-09 BDO, Moneygram launch new remittance promo

  The SM Group, led by Banco De Oro Unibank, Inc. and SM Prime Holdings, in tandem with the Philippine Overseas Employment Administration (POEA) recently launched the SM Balikbayan Center, giving the Overseas Filipino Workers (OFWs) and their families easy access to various labor-related services.

  The maiden branch, located at the Atrium of SM Megamall, offers Pre-Employment Orientation Seminars (PEOS), list of licensed recruitment agencies, information on fraud and human trafficking, and other privileges such as discounts and free overseas communication.

  BDO and POEA have built solid partnership over the years in assisting Filipinos working abroad and their families. This year, the SM Group joined the mission to help OFWs by offering the network of SM Malls and various services to be accessible even on weekends.

  BDO, named as the countryfs top remittance bank for 2008, earlier sealed a partnership with POEA for the implementation of Pre-Deployment Orientation Seminar (PDOS) for Filipinos working abroad.

  The government requires departing Filipino workers to attend country-specific PDOS to help them address their adjustment concerns such as travel regulations, cultural differences, and settlement issues in their destination-countries.

  The seminars are conducted by POEA representatives at designated PDOS centers all over country. BDO will be sending representatives to all PDOS centers to tackle financial literacy tips, BDO Remit services and how the Bank can help OFWs manage their finances and put these to good investment through BDO's other products and services .

• 08-25-09 BDO Finalizes GE Money Acquisition

  Listed Banco De Oro Unibank, Inc. (BDO) has completed the purchase of 98.81 percent of the issued and outstanding common stock of GE Money (GE Money Bank). At the same time, the Bank finalized the acquisition of the entire preferred capital stock of GE Money Bank in the Philippines.

  With the completion of the transaction, GE Money Bank becomes a subsidiary of BDO.

  Simultaneous with and as a component of the acquisition of GE Money, BDO issued to GE Capital Philippines Investment Holdings 37,735,849 new common shares at a subscription price of P34.45 per common share or for a total of P1.3 billion. The subscription price was based on the average closing price for the last 10 trading days.

  "We see this as a win-win situation for both companies. We are very pleased to be working with GE and look forward to exploring opportunities for future collaboration," said BDO president Nestor V. Tan.

  For his part, Mark Arnold, CEO of GE Capital Global Banking in Southeast Asia, commented: "We are pleased to have concluded the transaction with BDO. With its superior market presence and clear strategy for growth we believe BDO will provide our business, people and customers with the best opportunities for long-term success and as such, we look forward to exploring potential opportunities for further collaboration in the future."

• 08-13-09 BSP names BDO as Top Remittance Bank

  With BDO Unibank, Inc. claiming the biggest share of remittances being coursed through the banks by Filipinos overseas, the Bangko Sentral ng Pilipinas (BSP) awarded the Bank as this year’s Top Remittance Bank during the BSP Annual Stakeholders Awards.

  BDO allows Filipinos overseas to send money to the Philippines through the Bank's subsidiary and representative offices in Hong Kong, Macau, USA, Italy, Germany, France and Israel. BDO also has thousands of remittance partners and agent locations in Asia and Oceania, Australia, Middle East, North America and Europe where Filipinos can send remittances.

  One way of sending remittances is through the BDO Kabayan Savings Account, a special account for Filipinos overseas and their beneficiaries. Understanding the needs of Filipinos overseas and their families here in the Philippines, BDO has made account opening easier and hassle-free. Opening a BDO Kabayan Savings account only requires one valid ID and an initial deposit of P50 for peso account which comes with an international ATM card and a passbook that customers can get upon account opening. Using the international ATM card, beneficiaries can withdraw their remittances from more than 6,000 BDO, Expressnet and Megalink ATMs nationwide.

  Another product from the Bank is the BDO Remit Cash Card, an electronic ATM card that also works as a debit card. It is the fastest way to receive remittances as funds are credited within minutes. Filipinos can purchase the card at any BDO Remit office and remittance partner abroad and have it sent to their families in the Philippines. Through the BDO Remit Cash Card, beneficiaries can withdraw cash at any BDO, Expressnet and Megalink ATMs. As debit card, they can make purchases at SM department stores and other establishments with Express Payment System (EPS) terminals without the need to carry cash.

  Remittances can also be sent through BDO Remit Cash Pick-up Anywhere. Filipinos overseas can send money and have it claimed by their beneficiaries at more than 3,000 BDO Remit Cash Pick-up locations in the Philippines. With this, remittances can be claimed at any BDO branch, SM Business Service Center or SM Forex Counter in SM Department Stores, Makro outlets and SM Savemore branches. And to reach customers in areas where BDO has no presence, BDO partnered with several rural banks where beneficiaries can also claim remittances more conveniently.

  BDO’s passion to provide service beyond traditional remittance is driven by the significant contribution of Filipinos overseas to the economy. And with BDO’s growing network of local and international partners, Filipinos overseas and their families in the Philippines are rest assured, BDO services are made available to them wherever they may be.

  from left) Monetary Board Member Ignacio Bunye, BDO Remittance-International Operations FVP and Head Jonathan Diokno, BDO Remittance-Domestic Operations VP and Head Geneva Gloria, SVP and Head of BDO Transaction Banking Group Ismael G. Estela, Jr. and BSP Governor Amando Tetangco, Jr. during the BSP Annual Stakeholders Awards last July 14, 2009 at the BSP Complex, Manila.

• 08-13-09 FinanceAsia cites BDO units for excellence

  Hong Kong-based publication FinanceAsia has recently cited Banco De Oro Unibank's major subsidiaries – BDO Capital and BDO Private Bank – in separate award categories.

  BDO Private Bank was named the Philippines' best private bank given its distinction as the only dedicated private banking institution among the local banks in the Philippines. FinanceAsia also credits the company's open architecture model, allowing it to offer a comprehensive range of private banking services to affluent clients.

  Meanwhile, BDO's investment banking arm BDO Capital made it to the list of Best Financial Services Firms Around the Region. BDO Capital was recognized as the Best Investment Bank and Best Equity House, meriting the Finance Asia Country Awards for Achievement 2009.

• 08-12-09 BDO SIGNS UP NATIONAL GRID

  of the Philippines (NGCP) to provide various cash management services, including integrated disbursement solutions and bills payment facility.

  NGCP, operator of the country's high-voltage transmission facilities, will likewise tap BDO's motorized check pick-up solution; payroll; and corporate Internet banking facility.

  Present during the signing were (seated from left to right): Roel Z. Castro, NGCP Financial Controller; Joel A. Banares, NGCP Chief Finance Officer; Dr. Walter W. Brown, NGCP President and Chief Executive Officer; Nestor V. Tan, BDO President; Ismael G. Estela, Jr., BDO Senior Vice President, Transaction Banking Group; and Jaime M. Nasol, BDO Senior Vice President, Cash Management and E - Banking Services.

  Standing from left to right: Edgardo R. Marcelo, Jr., BDO Vice President, Transaction Banking Group, Cash Management Sales and Market Management; Walter C. Wassmer, BDO Senior Executive Vice President, Institutional Banking Group; Nenita C. Indiongco, BDO Senior Vice President, Corporate Banking; Maria Clara Dulce Chua, BDO Vice President, Corporate Banking and Edward G. Wenceslao, BDO Senior Vice President, Institutional Banking Group.

• 08-12-09 BDO Remit supports MOVE Expo

  In an apparent move to continuously support aspiring immigrants and overseas Filipino workers, the country's leading remittance bank BDO Remit has joined the Immigrant Visa Center (IVC) in the first annual Migration, Overseas Opportunities and Via Employment (MOVE) Expo held on July 31-August 1, 2009.

  With SMX Convention Center as venue, the Expo gave Filipinos an opportunity to see several exhibitors from countries such as Canada, New Zealand, United Kingdom and United States. IVC, one of the leading Philippine-based immigrant advocacy firms, also invited several government and private agencies to assist the over 6,000 attendees in processing their applications.

  BDO representatives manned the BDO Remit booth and facilitated the inquiries and opening of BDO Kabayan Savings accounts

  PHOTO CAPTION: People trooped to a BDO booth for their inquiries and concerns. BDO played an important part in the first annual Migration, Overseas Opportunities and Via Employment Expo held on July 31-August 1, 2009 at the SMX Convention Center.
  

• 08-06-09 BDO secures BSP's nod on GEMB acquisition

  Banco De Oro Unibank, Inc. has secured the approval of the Bangko Sentral ng Pilipinas (BSP) on its acquisition of GE Money Bank.

  The approved transaction will pave way for BDO's absorption of GEMB's 31 branches, 30,000 customers, and 38 ATMs nationwide.
  
  The same agreement also allows GEMB's parent firm GE Capital to make a strategic investment by purchasing 1.5 percent of BDO's outstanding voting stock. GE Capital is the financial services arm of New York-listed General Electric Co.
  
  At the end of the first quarter 2009, BDO was number one in terms of total resources, trust assets, loans and deposits. It has a network of over 700 branch licenses and more than 1,200 ATMs.

  GE, meanwhile, is a leading global provider of innovative financial products and services. In 2005, it acquired a majority interest in Keppel Bank Philippines, which it later renamed as GE Money Bank. It is known for its global competencies in risk management, analytics, business management practices, and has a strong track record of growth in emerging markets.

• 08-04-09 BDO cited as one of the best in corporate governance

  Listed Banco De Oro Unibank, Inc. was recently awarded by Corporate Governance Asia as among the companies in the region with the best corporate governance.

  Accepting the award from Corporate Governance Asia publisher and managing director Aldrin Monsod (right) is the Bank's independent director and chair of the corporate governance and audit committees Teodoro Montecillo (left).

  "The key officers of BDO ensure strict adherence to practices that exemplify accountability, transparency and fairness in the Bank's operations because we take a pro-active and long-term view of corporate governance," said Montecillo.

  Corporate Governance Asia is the region's most authoritative journal on Corporate Governance. Published quarterly, it provides news and analysis on corporate governance issues, boardroom practices and shareholder activism.