News

• 07-29-10 BDO rolls out handy cash management package

  BANCO De Oro Unibank, Inc. (BDO) is making its cash management service more accessible and convenient for micro businesses and small and medium enterprises (SMEs) through a bundled product consisting of payroll, check disburse and corporate internet banking.

  For just maintaining an account average daily balance (ADB) of at least P500,000, business owners can avail of the three products, which are the basic needs for smooth and efficient cash flow operations.

  "All the entrepreneurs have to do is open a peso or checking account and maintain an ADB of at least half a million pesos. We will also ask them to accomplish a data sheet, sign the memorandum of agreement and submit either a board resolution or secretary's certificate," said Edgardo Marcelo Jr., BDO's vice president for cash management services.

  The payroll product – regular savings account or cash card – enables the enterprise to prepare its payroll automatically, which BDO can deliver in a safer and more convenient manner.

  The check disburse, on the other hand, allows the business to prepare, manage and print large volumes of checks for quick and easy disbursement.

  Meanwhile, corporate internet banking provides instant access to the businesses' funds via online banking transactions in the comforts of one's office. These transactions include checking of account balances, uploading of payroll, transfer of funds to a third-party account, payment of bills and settlement of SSS and BIR fees online.

  The cash management and electronic banking unit of BDO has been recognized as the Best Cash Management services in the Philippines by Asian financial institutions and publications.
  

• 07-09-10 BDO is 2009's top remittance bank

  FOR the second straight year, Banco De Oro Unibank, Inc. (BDO) was named the Top Commercial Bank on Overseas Filipinos Remittances for 2009 by the Bangko Sentral ng Pilipinas (BSP).
  
  BDO, which bagged the same award in 2008, attributed its solid performance on its strong market presence and steady expansion of remittance partners worldwide. Constant efforts to strengthen its international presence have resulted to established connections with thousands of combined remittance offices, partners and agent locations in Asia, Middle East, North America and Europe allowing to serve more Filipinos globally.

  There is also the continuous expansion of cash pick-up channels all over the Philippines, which to date, number to more than 2,400. These include the over 700 BDO branches; 120 SM pick-up locations (YES Currency Exchange Counters in SM Department Stores, SM Business Services, Global Pinoy Centers, Savemore and Makro); 1,200 locations of financial services partners; and nearly 390 branches of rural bank partners.

  "The Bank's objective is well-defined. We will continuously search for ways to make remittances more secure, convenient and accessible for our clients by improving our existing channels and pursuing new means to address the growing requirements of the OFWs," said its president Nestor V. Tan.

  He added, "We would not have achieved this [honor] if not for the help of all our remittance partners. They are winners of this award as well."

  At the end of 2009, total remittances from overseas Filipinos reached US$17.3 billion as remittances from sea-based and land-based workers rose by 12.1 percent and 4.2 percent, respectively. Major sources of remittances were the US, Canada, Saudi Arabia, UK, Japan, Singapore, United Arab Emirates, Italy and Germany.

  For this year, the BSP forecast remittances to grow by 8 percent from an earlier estimate of 6 percent.

  Shown in photo is Tan (center) holding the trophy presented by BSP Gov. Amando Tetangco Jr. (right) and Monetary Board Member Nelly Favis-Villafuerte (left) during the recently held awards ceremony and appreciation lunch for BSP stakeholders.

• 06-24-10 BDO tops FinanceAsia Country Awards 2010 for RP

  HONG KONG-based publication FinanceAsia has cited Banco De Oro Unibank, Inc. (BDO) as the Best Bank in the Philippines for 2010 in its annual Country Awards.

  BDO is also a recipient of the Best Foreign Exchange Bank award while subsidiary BDO Capital is bestowed the Best Investment Bank, Best Equity House and Best Bond House awards.
  
  The formal awarding will be held in Hong Kong on September 1, according to the Asia's leading financial publishing company. Meanwhile, the complete list of the awardees will be featured in the July issue of FinanceAsia magazine.

  The Bank, over the years, has been consistently recognized by various international finance and investment institutions and publications, for its market leadership.
  
  As a full-service universal bank, BDO has the ability to provide industry-leading corporate, retail, investment banking and insurance services. It maintains its strategic focus on its principal markets, notably the corporate market, the middle-market banking segment – consisting of mid-sized corporations and small and medium-sized enterprises – and the retail/consumer market. The Bank also has the expertise in asset management, leasing and finance, remittances, bancassurance, credit cards, and corporate cash management.

• 06-21-10 BDO forum for SMEs, a success in Davao

  Banco de Oro Unibank, Inc. (BDO) successfully wrapped up its recent SME forum in Davao, the latest in its "Grow Your Business with BDO" learning series for entrepreneurs.

  The forum, which was attended by over 100 valued clients of the Bank, featured as its key speaker Prof. Alejandrino Ferreria, a noted entrepreneur and academician from the Ateneo de Manila University - Asian Center for Entrepreneurship (ACE), who tackled the topic entrepreneurial finance and fiscal management for SMEs.

  Other speakers included BDO chief market strategist Jonathan Ravelas, who discussed the state and condition of the Philippine economy; BDO senior executive vice president for institutional banking group (IBG) Walter C. Wassmer and Gerard Lee Co, BDO executive vice president for IBG commercial banking and head, Visayas and Mindanao, both of whom discussed growth opportunities with BDO; and Jaime M. Nasol, senior vice president for BDO's transaction banking group-cash management and e-banking, who talked about the various products of the Bank which can help a business maximize productivity and enhance efficiency.

  BDO's Davao-based client Efren Marquez, president and chief executive of Kupler DCMC Philippines Corp., a trading and marketing firm of various industrial products, also made a testimony on how the Bank has helped him in his pursuit to expand his business. "The relationship has made them [BDO] understand my business better while I was able to learn the intricacies of finance and economics from my dealings with them and have also earned other income from some of their product offers. I know I was right in choosing a big bank like BDO, as it complemented the requirements expected of me by my foreign suppliers," he commented.
  
  BDO president Nestor V. Tan, who led the panel in the question and answer part, said conducting forums in key areas in the Philippines, is the Bank's way of reaching out to small businesses. "BDO grew as a result of helping businesses like you. No business is too small for the Bank," he told the participants.

  The photo shows (from left) Mssrs. Nasol, Ravelas, Tan, Ferreria and Wassmer answering questions from the audience..

• 06-01-10 BDO Leasing posts growth in 2009; sees good prospects in 2010

  BDO Leasing intensified its marketing efforts in 2009 and with the support of its parent bank, BDO Unibank, grew its net loan portfolio by 19% to P9.1 billion from P7.7 billion in 2008 while total assets ballooned by 25% to P13.1 billion in 2009 from P10.4 billion the previous year.

  Total revenues, likewise, posted a significant increase from P1.4 Billion in 2008 to P2.2 Billion in 2009, or a 61% increase mainly coming from rental revenues.

  It took a conservative stance vis-a-vis the economic environment, taking into consideration the effects of typhoons Ondoy and Pepeng by increasing its loan loss provisioning. It, likewise, effected a one-off adjustment in depreciation for its assets in its wholly owned subsidiary, BDO Rental. Despite these adjustments, coupled with the thinning of margins due to competition, the company still managed to post a respectable 2009 net income of P300 million.

  The steady performance allowed BDO Leasing to declare cash dividends to shareholders in July and December amounting to P432 Million or P0.20 per share. This is the highest dividend payout made by your company from the time it became publicly traded in 1997.

  Meanwhile, to support earning asset growth, BDOLF secured an approval from the Securities and Exchange Commission (SEC) to raise its Short-Term Commercial Paper (STCP) license from P4 Billion to P8 Billion. The STCP issue was given a high rating of "PRS 2 minus" by Philippine Rating Services Corporation (PhilRatings) based on "BDO Leasing's solid market position, sound capital base and the continuing benefits derived from its synergy with the parent company, BDO, as well as the relatively positive prospects for the local leasing and financing industry".

  With BDO as its parent firm, thus resulting in synergy, BDOLF continued to perform well in 2010 as the net loan portfolio further grew to P9.8 billion at the end of the first quarter.

  Given the overall business confidence index in an upbeat trend, as published by BSP in its 1Q2010 Business Expectation Survey, BDO Leasing is optimistic in its growth, while also prepared for possible economic challenges ahead.