BDO Unibank, Inc. keeps its #1 position in the local banking industry after The Asian Banker named it 2019’s Strongest Bank by Balance Sheet in the Philippines for the second straight year.
The Asian Banker Strongest Banks by Balance Sheet is “the most comprehensive annual evaluation that captures the quality and sustainability of the balance sheets of the banks in the Asia Pacific, Middle East, and Africa regions.” Banks are rated on a scale of 0-5 and ranked based on the following performance indicators: scale, balance sheet growth, risk profile, profitability, asset quality, and liquidity.
The Asian Banker underscored BDO’s healthy balance sheet and profit as well as its low non-performing loan (NPL) ratio and high loan loss reserves to gross NPLs ratio.
BDO recently reported growth in third quarter earnings at P32.1 billion from the previous level of P21.5 billion in the same period last year. The bank attributes its net income to the expansion of its recurring core revenues, complemented by the sustained increase in fee incomes and life insurance premiums. It translates to a Return on Common Equity (ROCE) of 12.5%, compared to 9.5% in 9M18.
While its nine-month net income brings it closer to its full-year earnings guidance of P38.5 billion, the bank remains steadfast in capitalizing on the country’s solid economic pace and growth opportunities in underserved and emerging markets, leveraging its focused growth strategy, strong business franchise, solid balance sheet, and extensive geographic reach.
The Asian Banker evaluates strength “based on a belief that a strong bank demonstrates long-term profitability from its core businesses.” Through its yearly Strongest Banks by Balance Sheet, the Singapore-based publication provides financial intelligence by assessing banks and financial holding companies in emerging and mature markets with a substantial amount of activity in commercial banking.
About BDO Unibank, Inc.
BDO is a full-service universal bank which provides a wide range of corporate and retail banking services. These services include traditional loan and deposit products, as well as treasury, trust and investments, investment banking, private banking, rural banking, cash management, leasing and finance, remittance, insurance, retail cash cards, credit card services, and stock brokerage services.
BDO has one of the largest distribution networks, with more than 1,300 operating branches and over 4,400 ATMs nationwide. It also has full-service branches in Hong Kong and Singapore as well as 21 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, 2019. For more information, please visit www.bdo.com.ph.
BDO Unibank, Inc.
BDO Corporate Center
7899 Makati Avenue
Makati City 0726, Philippines
Tel +63(2) 8840-7000
www.bdo.com.ph
Reference:
Chesca Ortega
PR and Events Specialist
Roar Agile Communicators Corp
roar.ph chesca.roar@gmail.com
