Banco de Oro: Difference between revisions

Banco de Oro
	BDO Corporate Center Ortigas, current headquarters of Banco de Oro in Mandaluyong, Philippines.
Company type	Public
Traded as	PSE: BDO
Industry	Finance and insurance
Predecessor	Equitable PCI Bank
Founded	Manila, Philippines; January 2, 1968; 56 years ago (as Acme Savings); November 1976; 47 years ago (as Banco de Oro)
Headquarters	BDO Corporate Center, Ortigas Center, Mandaluyong, Philippines
Number of locations	1,434 branches (2016); 4,466 ATMs (2016)
Area served	Asia; North America; Europe; Middle East
Key people	Teresita Sy-Coson ; (Chairperson); Nestor Tan (President and CEO)
Services	Financial services
Revenue	₱221.19 billion $4.61 billion (FY 2019)
Net income	₱44.19 billion $920.51 million (4.3%) (2019)
AUM	₱1.16 trillion $24.26 billion (12%) (2019)
Total assets	₱3.19 trillion $66.42 billion (12%) (2019)
Total equity	₱368.93 billion $7.68 billion (9%) (2019)
Number of employees	38,510 (2019)
Parent	SM Investments Corporation
Subsidiaries	BDO Capital; BDO Foundation; BDO Insure; BDO Leasing; BDO Life; BDO Network Bank; BDO Private Bank; BDO Securities;
Website	www.bdo.com.ph

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BDO Unibank, Inc., commonly known as Banco de Oro (BDO),^[a] is a Philippine banking company based in Mandaluyong, the Philippines. BDO Unibank is a member of the SM Group and so can be found at SM Malls throughout the country.

BDO is the largest bank in the Philippines by total assets, and 15th largest in Southeast Asia by total assets, as of March 31, 2016.^[7]^[8] It is the largest bank in the country by market capitalization,^[4] and has the largest distribution network with over 1,300 operating branches and more than 4,000 ATMs nationwide.^{[citation needed]}^[when?]

BDO is a full-service universal bank. It provides 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 stockbrokerage services.^[9]

BDO's main competitors are major Philippine banks like Metrobank and BPI.

History

BDO Unibank was established on January 2, 1968 as Acme Savings Bank, a thrift bank with just two branches in the area before Metro Manila was formed. In November 1976, Acme was acquired by the SM Group, the group of companies owned by retail magnate Henry Sy, and renamed Banco de Oro Savings and Mortgage Bank.

In December 1994, BDO became a commercial bank and was renamed Banco de Oro Commercial Bank. In September 1996, BDO became a universal bank, which led to the bank's name being changed to the current Banco de Oro Universal Bank (BDO Unibank).

BDO Unibank eventually became involved in insurance services in 1997 (it is a bancassurance firm) by establishing a subsidiary called BDO Insurance Brokers. In 1999, BDO Unibank expanded its insurance services through partnerships with Zamora Assurance and Assicurazoni Generali s.p.a. (Generali), one of the world's largest insurance firms, and Jerneh Asia Berhad, a member of Malaysia's Kuok Group. In March 2000, BDO Unibank partnered with Generali Pilipinas Life Assurance Company and Generali Pilipinas Insurance Company.

Merger with Equitable PCI Bank

The current bank is the product of the Banco de Oro–Equitable PCI Bank merger. The boards of both banks agreed to merge on December 27, 2006. The new BDO Unibank retained the ticker symbol of the old Banco de Oro, and 1.3 billion BDO shares were issued in exchange for 727 million Equitable PCI Bank shares. Equitable PCI Bank was de-listed on June 4, 2007.

The entity was initially known as Banco de Oro-EPCI, Inc., but announced that it would go by the name Banco de Oro Unibank, Inc. starting February 2007. In 2010 Banco de Oro changed its name to BDO Unibank, Inc.

As of 2020, BDO has the largest distribution network^{[citation needed]} with over 1,400 operating branches and more than 4,400 ATMs nationwide. It is the country's largest bank in terms of consolidated resources, customer loans, deposits, assets under management and capital, as well as branch and ATM network nationwide as of 2022.^[10]

Ownership

Before "merger of equals" with Equitable PCI Bank

PCD Nominee Corporation: 40.09% (35.64% foreign, 4.45% Filipino)
SM Investments Corporation: 27.41%
Primebridge Holdings: 22.08%
SM Development Corporation: 4.04%
Shoemart: 3.57%
Public stock: 2.45%

Ownership after merging with Equitable PCI Bank

SM Investments Corporation: 40.87%
Multi-Realty Development Corporation: 8.81%
Sybase Equity Investments Corporation: 5.14%
Shoemart: 2.10%
Sysmart Corporation: 00.14%^[11]

While the Philippine Central Depository (PCD) is listed a major shareholder, it is more of a trustee-nominee for all shares lodged in the PCD system rather than a single owner/shareholder. Major beneficial shareholders (ie those who own at least 5% of outstanding capital stock with voting rights) hidden, if any, under the PCD system are checked/identified and are disclosed with the Definitive Information Statement companies are submitting annually to the local bourse and Securities and Exchange Commission^[12]

Subsidiaries and affiliates

BDO is divided into the following subsidiaries and affiliates:

Philippine-based subsidiaries

BDO Capital & Investment Corporation
BDO Insurance Brokers
BDO Leasing and Finance Inc.(Formerly PCI Leasing and Finance)
BDO Nomura Securities
BDO Private Bank
BDO Realty Corporation
BDO Securities Corporation
BDO Strategic Holdings (formerly EBC Investments and 6 other companies)
BDO Technology Center (Equitable Data Center and PCI Automation Center)
BDO Life Assurance Company
Equimark-NFC Development Corporation
BDO Network Bank (Formerly One Network Bank. The largest rural bank in the Philippines)
PCIBank Europe SpA
PCIBank Securities Inc.
Zamora Trust Services (CIMB Bank Authorized Agent For International Tax Payments and Tax Refunds)

Foreign-based affiliates

Affiliates

North Pine Land Inc.
SM Keppel Land Inc.
Taal Land Inc.
MMPC Auto Financial Services

Mergers and acquisitions

Dao Heng Bank

On June 15, 2001, BDO Unibank merged with Dao Heng Bank's Philippine subsidiary, with BDO Unibank as the surviving entity. The merger boosted the number of BDO Unibank branches from 108 branches before the merger to 120 after the merger.

1st e-Bank

In September 2002, Metro Pacific Corporation (now Neo Oracle Holdings Inc.) sold the operations and 57 branches of 1st e-Bank (formerly PDCP Bank) including its Smart Money Mastercard debit card issuer (which is a partnership with Smart Communications until 2017) to BDO Unibank.^[13] it later formally acquired and merged in October of the same year, All 1st e-Bank branches completed integration into the BDO Unibank network, increasing the Bank's number of branches to 177.^[14]

Banco Santander Philippines

In August 2003, BDO Unibank. acquired the local banking unit of Banco Santander with its commercial, trust and derivatives licenses to become BDO Private Bank, a fully owned subsidiary of BDO Unibank. The main goal the BDO Private Bank is to create market share in the Private banking/Modern Affluent Market segment by penetrating key areas in BDO Unibank's network. This is to complement and explore how the BDO Unibank Group can service all the financial and investment needs of the client.

United Overseas Bank Philippines

In late April 2005, United Overseas Bank sold 66 out of the 67 branches of its Philippine subsidiary to BDO Unibank after UOB's Philippine subsidiary decided to rationalize its operations from retail to wholesale banking. All UOB branches completed integration into the BDO Unibank, Inc network on March 22, 2006, increasing the BDO's number of branches to 220.

Equitable PCI Bank

On August 5, 2005, BDO Unibank and an SM subsidiary, SM Investments, bought 24.76% of the shares of Equitable PCI Bank, the Philippines' third-largest bank, and 10% of an Equitable PCI affiliate, Equitable CardNetwork, one of the Philippines' largest credit card issuers, from the Go Family which founded the bank. BDO Unibank has also been offered a further 10% by another Equitable PCI affiliate, EBC Investments, and a deal is being made to buy (awaiting court approval) the 29% stake of the Social Security System (SSS), the Philippines' private sector workers' pension fund. Subsequent acquisitions enabled the bank to acquire a 34% stake in Equitable PCI.

On December 1, 2005, BDO Unibank shares were listed as a component of the PSE Composite Index for the first time.

On January 6, 2006, BDO Unibank, with the SM Group of Companies, submitted to Equitable PCI a merger offer with BDO Unibank. as the surviving entity. Under the proposal, BDO Unibank. will swap 1.6 of its shares for every 1 Equitable PCI share. As a second option, BDO Unibank. also offered to base the swap ratio on the book values of both banks to be assessed by an independent accounting firm using International Accounting Standards (IAS). To effect the merger, BDO Unibank. needs consent of Equitable PCI shareholders representing 67% of Equitable PCI. These include the Social Security System (SSS) with 29%, the Government Service Insurance System (GSIS) with 14%, and the family of Equitable PCI chairman Ferdinand Martin Romualdez with eight percent. BDO Unibank. said that the proposed "merger of equals" would create the country's second biggest bank with assets of about ₱608 billion (as of June 2007), just next to Metrobank with ₱669.1 billion (as of June 2007), the current banking industry leader in the Philippines. Bank of the Philippine Islands is the current third biggest bank in the Philippines with P592.6 billion (as of June 2007). BDO Unibank. has asked Equitable PCI to study their offer until January 31, 2006.

BDO Unibank President Nestor Tan also expressed of a possibility of a three-way merger with Chinabank, also an SM Group-controlled bank. Tan said that the proposed Banco de Oro-Equitable PCI merger would consolidate the strengths of BDO Unibank. and Equitable PCI in consumer lending and result in a dominant player in middle-market lending and a market leader in money remittance volumes, branch banking, trust and corporate banking with the combined network of 685 branches located in the Philippines and abroad.

Although Romualdez and the GSIS have shown stiff opposition to the BDO Unibank-Equitable PCI merger, the SSS is still studying the possibility of a merger. In fact, UBS studied the deal and claims that the merger through the stock swap option is a "win-win" situation. It also claims that the deal under IAS standards are timely enough to facilitate the merger and that with the merger, Equitable PCI shareholders, under UBS calculation, would see the value of their shares increase to about ₱73.60 per share, more than the fair value target price of ₱67.

With Equitable PCI and BDO Unibank merging fully realized, BDO Unibank now stands as the largest bank in terms of asset in the Philippines. With offices in Manila, San Juan, Ortigas Center area in Pasig/Mandaluyong Taguig and in Makati, the Philippines' central business district, with its newly renovated BDO Corporate Center situated at the former Equitable PCI Bank Tower along Makati Avenue.

GE Money Bank

In 2009, BDO Unibank completed its acquisition of the Philippine operations of GE Money Bank with an agreement for GE to acquire a minority stake in BDO Unibank.^[15] In a definitive agreement signed by the two institutions, GE Capital will acquire a 1.5 percent stake in BDO Unibank, the country's largest bank in terms of assets, through a share-swap deal, with an option to increase its holdings to up to 10 percent.^[16] The takeover will involve absorption of GE Money Bank's 31 branches, 30,000 customers, and 38 ATMs nationwide.

Citibank Savings

On November 14, 2013, BDO Unibank. announced its plan to acquire 99.99 percent of Citibank Savings Inc. Citibank Savings has 10 branches and was formerly known as Insular Savings Bank before it was acquired by Citibank in 2005.^[17]

Deutsche Bank Philippines

In February 2014, BDO Unibank. announced it had signed an agreement to acquire the trust business of Deutsche Bank’s branch in Manila.^[18]

The Real Bank

In July 2014, BDO Unibank. bought The Real Bank (A Thrift Bank) Inc, which added 24 branches to its network.^[19]

BDO Network Bank (One Network Bank)

Before the end of December 2014, BDO Unibank acquired One Network Bank, the country's largest rural bank with 105 branches.^[20]

One Network Bank changed its name to BDO Network Bank in 2019.^[21]

Recent events

EMV Debit Card

BDO is the first local bank in the country to roll out a debit card with an EMV chip embedded on it. The EMV chipping system, just like the ones on credit cards will also enhance the security of the debit card holders. The cards were released in 2016.^[22]

In 2017, they also introduced the EMV Visa Debit Card.^[23]

2021 bank hack

Notes

^ Hokkien Chinese: 金融銀行; Pe̍h-ōe-jī: Kim-iông Gûn-hâng; Mandarin simplified Chinese: 金融银行; traditional Chinese: 金融銀行; pinyin: Jīnróng Yínháng^[6]

References

^ ^a ^b ^c ^d ^e ^f BDO (2020). 2019 Annual Report (PDF) (Report).
^ "[BDO Unibank, Inc.] Directors and Management". PSE Edge. Retrieved February 16, 2022.
^ "BDO Says 2016 Net Income a Record P26.1B". GMA News Online. February 24, 2017. Retrieved February 16, 2022.
^ ^a ^b ^c ^d "[BDO Unibank on the Forbes World's Best Employers List]". Forbes. Retrieved January 23, 2019.
^ "Subsidiaries". BDO. Retrieved February 16, 2022.
^ "金融銀行預計今年貸款增長8%至19%". 菲律賓商報 (Chinese Commercial News). April 20, 2023. Retrieved May 3, 2023.
^ Agcaoili, Lawrence (July 26, 2016). "BDO Still Biggest Bank; Landbank Overtakes BPI". Philstar Global. Retrieved February 16, 2022.
^ "The World's Largest Public Companies". Forbes. Retrieved January 23, 2019.
^ BDO (September 2016). Investor Presentation (PDF) (Slide deck).
^ "About BDO: Business Operations". BDO. Retrieved February 16, 2022.
^ "100 Top Stockholders as of September 30, 2013". PSE. Archived from the original on January 7, 2014. Retrieved October 9, 2013.
^ "PAGE 11 - DEFINITIVE Information Statement of [GLOBE TELECOM], INC" (PDF). Globe Telecom - Investor Relations. Retrieved April 4, 2024.
^ Mendez, Christina; Diaz, Conrado Jr (September 28, 2002). "SM's Banco de Oro to Buy First e-Bank". Philstar Global. Retrieved February 16, 2022.
^ Mendez, Christina; Diaz, Conrado Jr. (October 25, 2002). "Banco de Oro Takes Over First e-Bank Operations". Philstar Global. Retrieved February 16, 2022.
^ Dumlao, Doris (May 28, 2009). "BDO Takes Over GE Money Bank". Inquirer.net. Archived from the original on May 31, 2009. Retrieved December 1, 2011.
^ Reyes, Liza (May 29, 2009). "BDO, GE Money to Merge Operations". ABS-CBN News. Retrieved February 16, 2022.
^ Factao, Genivi (November 14, 2013). "BDO to Acquire Citibank Savings". BusinessMirror. Archived from the original on January 3, 2014. Retrieved January 3, 2014.
^ "BDO to Acquire Deutsche Bank's Trust Business in Philippines". Reuters. February 23, 2014. Retrieved February 27, 2014.
^ Montecillo, Paolo G. (July 7, 2014). "BDO Acquires Real Bank". Inquirer.net. Retrieved February 16, 2022.
^ Torres, Ted P. (December 24, 2014). "BDO Acquires Largest Rural Bank". Philstar Global. Retrieved February 16, 2022.
^ Agcaoili, Lawrence (September 18, 2019). "BDO's One Network Bank Changes Corporate Name". Philstar Global. Retrieved February 16, 2022.
^ BDO Unibank (April 15, 2016). "BDO Is the First Local Bank to Roll out EMV Debit Card". Archived from the original on February 26, 2022 – via Facebook.
^ "BDO Depositor's Thread – Page 29". PinoyExchange. Retrieved January 23, 2019.

External links

Official website
Media related to BDO Unibank at Wikimedia Commons
BDO Exchange Rate Today

[7] Hokkien Chinese: 金融銀行; Pe̍h-ōe-jī: Kim-iông Gûn-hâng; Mandarin simplified Chinese: 金融银行; traditional Chinese: 金融銀行; pinyin: Jīnróng Yínháng^[6]

[bdo.com.ph-1] ^ ^a ^b ^c ^d ^e ^f BDO (2020). 2019 Annual Report (PDF) (Report).

[PSE-2] "[BDO Unibank, Inc.] Directors and Management". PSE Edge. Retrieved February 16, 2022.

[3] "BDO Says 2016 Net Income a Record P26.1B". GMA News Online. February 24, 2017. Retrieved February 16, 2022.

[forbes.com-4] "[BDO Unibank on the Forbes World's Best Employers List]". Forbes. Retrieved January 23, 2019.

[5] "Subsidiaries". BDO. Retrieved February 16, 2022.

[6] "金融銀行預計今年貸款增長8%至19%". 菲律賓商報 (Chinese Commercial News). April 20, 2023. Retrieved May 3, 2023.

[8] Agcaoili, Lawrence (July 26, 2016). "BDO Still Biggest Bank; Landbank Overtakes BPI". Philstar Global. Retrieved February 16, 2022.

[9] "The World's Largest Public Companies". Forbes. Retrieved January 23, 2019.

[10] BDO (September 2016). Investor Presentation (PDF) (Slide deck).

[11] "About BDO: Business Operations". BDO. Retrieved February 16, 2022.

[PSE_Stockholders_Report-12] "100 Top Stockholders as of September 30, 2013". PSE. Archived from the original on January 7, 2014. Retrieved October 9, 2013.

[GLOBETELECOM24_IS_DEF-13] "PAGE 11 - DEFINITIVE Information Statement of [GLOBE TELECOM], INC" (PDF). Globe Telecom - Investor Relations. Retrieved April 4, 2024.

[14] Mendez, Christina; Diaz, Conrado Jr (September 28, 2002). "SM's Banco de Oro to Buy First e-Bank". Philstar Global. Retrieved February 16, 2022.

[15] Mendez, Christina; Diaz, Conrado Jr. (October 25, 2002). "Banco de Oro Takes Over First e-Bank Operations". Philstar Global. Retrieved February 16, 2022.

[16] Dumlao, Doris (May 28, 2009). "BDO Takes Over GE Money Bank". Inquirer.net. Archived from the original on May 31, 2009. Retrieved December 1, 2011.

[17] Reyes, Liza (May 29, 2009). "BDO, GE Money to Merge Operations". ABS-CBN News. Retrieved February 16, 2022.

[18] Factao, Genivi (November 14, 2013). "BDO to Acquire Citibank Savings". BusinessMirror. Archived from the original on January 3, 2014. Retrieved January 3, 2014.

[19] "BDO to Acquire Deutsche Bank's Trust Business in Philippines". Reuters. February 23, 2014. Retrieved February 27, 2014.

[20] Montecillo, Paolo G. (July 7, 2014). "BDO Acquires Real Bank". Inquirer.net. Retrieved February 16, 2022.

[21] Torres, Ted P. (December 24, 2014). "BDO Acquires Largest Rural Bank". Philstar Global. Retrieved February 16, 2022.

[One_Network_Bank_changed_its_name-22] Agcaoili, Lawrence (September 18, 2019). "BDO's One Network Bank Changes Corporate Name". Philstar Global. Retrieved February 16, 2022.

[23] BDO Unibank (April 15, 2016). "BDO Is the First Local Bank to Roll out EMV Debit Card". Archived from the original on February 26, 2022 – via Facebook.

[24] "BDO Depositor's Thread – Page 29". PinoyExchange. Retrieved January 23, 2019.

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@@ Line 1: / Line 1: @@
-{{short description|Bank in the Philippines}}
+{{short description|Large bank in the Philippines}}
 {{About|Philippine bank|other uses|BDO (disambiguation)}}
 {{Use mdy dates|date=September 2022}}
@@ Line 5: / Line 5: @@
 | name = Banco de Oro
 | logo = BDO Unibank (logo).svg
-| logo_size = 200px
+| logo_size = 150px
 | logo_caption =
-| image =
+| image = BDOCorporateOrtigas.jpg
-| image_size = 270px
+| image_size = 230px
+| image_caption = [[BDO Corporate Center Ortigas]], current headquarters of Banco de Oro in [[Mandaluyong]], Philippines.
 | hq_location = [[BDO Corporate Center]], [[Ortigas Center]], [[Mandaluyong]], Philippines
 | type = [[Public company|Public]]
 | traded_as = {{Pse|BDO}}
 | area_served = [[Asia]]<br>[[North America]]<br>[[Europe]]<br>[[Middle East]]
-| key_people = [[Teresita Sy-Coson]] <br> {{small|([[Chairwoman]])}}<ref name="PSE">{{Cite web |title=[BDO Unibank, Inc.] Directors and Management |url=https://edge.pse.com.ph/companyPage/directors_and_management_list.do?cmpy_id=260 |access-date=February 16, 2022 |website=PSE Edge}}</ref><br>[[Nestor Tan]] {{small|([[President (corporate title)|President]] and [[CEO]])}}
+| key_people = [[Teresita Sy-Coson]] <br> {{small|([[Chairperson]])}}<ref name="PSE">{{Cite web |title=[BDO Unibank, Inc.] Directors and Management |url=https://edge.pse.com.ph/companyPage/directors_and_management_list.do?cmpy_id=260 |access-date=February 16, 2022 |website=PSE Edge}}</ref><br>[[Nestor Tan]] {{small|([[President (corporate title)|President]] and [[CEO]])}}
 | industry = [[Finance and insurance]]
-| predecessor = Banco de Oro ·<br>[[Equitable PCI Bank]]
+| predecessor = [[Equitable PCI Bank]]
 | services = [[Financial services]]
 | subsid = {{plainlist|
@@ Line 33: / Line 34: @@
 | equity = '''[[Philippine Peso|₱]]368.93 billion''' '''[[United States Dollar|$]]7.68 billion''' ({{profit}}9%) (2019)<ref name="bdo.com.ph" />
 | num_employees = {{increase}} 38,510 (2019)<ref name="bdo.com.ph" />
+| parent = [[SM Investments|SM Investments Corporation]]
 | homepage = {{URL|www.bdo.com.ph}}
-| foundation = [[Manila]], [[Philippines]]<br/>{{start date and age|1968|01|2}} (as Acme Savings)<br>{{start date and age|1976|11}} (as BDO)
+| foundation = [[Manila]], [[Philippines]]<br/>{{start date and age|1968|01|2}} (as Acme Savings)<br>{{start date and age|1976|11}} (as Banco de Oro)
 | locations = 1,434 [[Branch (banking)|branches]] (2016)<br/> 4,466 [[Automated teller machine|ATMs]] (2016)<ref name="bdo.com.ph" />
 }}
-'''BDO Unibank, Inc'''., commonly known as '''Banco de Oro''' ('''BDO'''),{{efn|[[Philippine Hokkien|Hokkien]] {{zh|t=|poj=Kim-iông Gûn-hâng|l=|c=金融銀行|s=|p=}}; [[Mandarin Chinese|Mandarin]] {{zh|t=金融銀行|poj=|l=|c=|s=金融银行|p=Jīnróng Yínháng}}<ref>{{Cite news |date=Apr 20, 2023 |title=金融銀行預計今年貸款增長8%至19% |work=菲律賓商報 ([[Chinese Commercial News]]) |url=http://shangbao.com.ph/jjxw/2023/04-20/137249.shtml |access-date=May 3, 2023}}</ref>}} is a Philippine banking company based in [[Mandaluyong]]. In terms of total assets, the firm is the largest bank in the Philippines and 15th largest in Southeast Asia as of March 31, 2016.<ref>{{Cite news |last=Agcaoili |first=Lawrence |date=July 26, 2016 |title=BDO Still Biggest Bank; Landbank Overtakes BPI |work=Philstar Global |url=https://www.philstar.com/business/banking/2016/07/26/1606529/bdo-still-biggest-bank-landbank-overtakes-bpi |access-date=February 16, 2022}}</ref><ref>{{Cite web |title=The World's Largest Public Companies |url=https://www.forbes.com/consent/?toURL=https://www.forbes.com/global2000/ |access-date=January 23, 2019 |website=Forbes}}</ref> BDO Unibank is also a member of [[SM Investments Corporation|SM Group]]. It is also the largest bank in the country by market capitalization.<ref name="forbes.com" />
+'''BDO Unibank, Inc'''., commonly known as '''Banco de Oro''' ('''BDO'''),{{efn|[[Philippine Hokkien|Hokkien]] {{zh|t=|poj=Kim-iông Gûn-hâng|l=|c=金融銀行|s=|p=}}; [[Mandarin Chinese|Mandarin]] {{zh|t=金融銀行|poj=|l=|c=|s=金融银行|p=Jīnróng Yínháng}}<ref>{{Cite news |date=Apr 20, 2023 |title=金融銀行預計今年貸款增長8%至19% |work=菲律賓商報 ([[Chinese Commercial News]]) |url=http://shangbao.com.ph/jjxw/2023/04-20/137249.shtml |access-date=May 3, 2023}}</ref>}} is a Philippine banking company based in [[Mandaluyong]], the Philippines. BDO Unibank is a member of the [[SM Investments Corporation|SM Group]] and so can be found at [[SM Malls]] throughout the country.
+BDO is the largest bank in the Philippines by total assets, and 15th largest in Southeast Asia by total assets, as of March 31, 2016.<ref>{{Cite news |last=Agcaoili |first=Lawrence |date=July 26, 2016 |title=BDO Still Biggest Bank; Landbank Overtakes BPI |work=Philstar Global |url=https://www.philstar.com/business/banking/2016/07/26/1606529/bdo-still-biggest-bank-landbank-overtakes-bpi |access-date=February 16, 2022}}</ref><ref>{{Cite web |title=The World's Largest Public Companies |url=https://www.forbes.com/consent/?toURL=https://www.forbes.com/global2000/ |access-date=January 23, 2019 |website=Forbes}}</ref> It is the largest bank in the country by [[market capitalization]],<ref name="forbes.com" />  and has the largest distribution network with over 1,300 operating branches and more than 4,000 ATMs nationwide.{{cn|date=March 2024}}{{when?|date=March 2024}}
-The firm is a full-service [[universal bank]]. It provides products and services to the retail and corporate markets, including lending (corporate, [[middle-market company|middle market]], SME, and consumer), deposit-taking, [[Foreign exchange market|foreign exchange]], [[broker]]ing, [[trust company|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 broker]]age and [[stockbroker]]age services.<ref>{{Citation |last=BDO |title=Investor Presentation |date=September 2016 |url=https://www.bdo.com.ph/sites/default/files/pdf/BDO%20Investor%20Presentation%20Update_2Q16_Sept%202016.pdf |type=Slide deck |mode=cs1}}</ref> BDO has the largest distribution network with over 1,300 operating branches and more than 4,000 ATMs nationwide.
+BDO is a full-service [[universal bank]]. It provides products and services to the retail and corporate markets, including lending (corporate, [[middle-market company|middle market]], SME, and consumer), deposit-taking, [[Foreign exchange market|foreign exchange]], [[broker]]ing, [[trust company|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 broker]]age and [[stockbroker]]age services.<ref>{{Citation |last=BDO |title=Investor Presentation |date=September 2016 |url=https://www.bdo.com.ph/sites/default/files/pdf/BDO%20Investor%20Presentation%20Update_2Q16_Sept%202016.pdf |type=Slide deck |mode=cs1}}</ref>
-==History==
+BDO's main competitors are major [[List of banks in the Philippines|Philippine banks]] like [[Metropolitan Bank and Trust Company|Metrobank]] and [[Bank of the Philippine Islands|BPI]].
-===Early history===
-BDO Unibank was established on January 2, 1968 as Acme Savings Bank, a thrift bank with just two branches in the area before [[Metro Manila]] was formed. In November 1976, Acme was acquired by the SM Group, the group of companies owned by retail magnate [[Henry Sy]], and renamed Banco de Oro Savings and Mortgage Bank.
+==History==
-In December 1994, BDO became a commercial bank and was renamed Banco de Oro Commercial Bank. In September 1996, BDO became a [[universal bank]], which led to the bank's name being changed to the current Banco de Oro Universal Bank (BDO Unibank).
+BDO Unibank was established on January 2, 1968 as Acme Savings Bank, a [[thrift bank]] with just two branches in the area before [[Metro Manila]] was formed. In November 1976, Acme was acquired by the [[SM Group]], the group of companies owned by retail magnate [[Henry Sy]], and renamed Banco de Oro Savings and Mortgage Bank.
+In December 1994, BDO became a [[commercial bank]] and was renamed Banco de Oro Commercial Bank. In September 1996, BDO became a [[universal bank]], which led to the bank's name being changed to the current Banco de Oro Universal Bank (BDO Unibank).
-BDO Unibank eventually became involved in insurance services in 1997 (it is a [[bancassurance]] firm) by establishing a subsidiary called BDO Insurance Brokers. In 1999, BDO Unibank expanded its insurance services through partnerships with Zamora Assurance and Assicurazoni Generali s.p.a. ([[Assicurazioni Generali|Generali]]), one of the world's largest insurance firms, and Jerneh Asia Berhad, a member of [[Malaysia]]'s Kuok Group. Later, BDO Unibank partnered up with its insurance affiliates, which are Generali Pilipinas Life Assurance Company and Generali Pilipinas Insurance Company, in March 2000.
+BDO Unibank eventually became involved in insurance services in 1997 (it is a [[bancassurance]] firm) by establishing a subsidiary called BDO Insurance Brokers. In 1999, BDO Unibank expanded its insurance services through partnerships with Zamora Assurance and Assicurazoni Generali s.p.a. ([[Assicurazioni Generali|Generali]]), one of the world's largest insurance firms, and Jerneh Asia Berhad, a member of Malaysia's [[Kuok Group]]. In March 2000, BDO Unibank partnered with Generali Pilipinas Life Assurance Company and Generali Pilipinas Insurance Company.
-[[File:BDO ATM in Los Banos, Laguna.jpg|thumb|right| An [[Automated Teller Machine|ATM]] inside BDO [[Los Baños, Laguna|Los Baños]] [[Branch (banking)|Branch.]]]]
+[[File:BDO ATM at SM City Cebu (2024-01-13).jpg|thumb|A BDO [[Automated Teller Machine|ATM]] inside [[SM City Cebu]]]]
-===Merger with Equitable PCI Bank===
-The new BDO Unibank retained the ticker symbol of the old Banco de Oro. 1.3 billion BDO shares was issued in exchange for 727 million Equitable PCI Bank shares, which was de-listed on June 4, 2007.
+===Merger with Equitable PCI Bank===
-The current bank is the product of the [[Banco de Oro–Equitable PCI Bank merger]] after the boards of both Banco de Oro Universal Bank and [[Equitable PCI Bank]] agreed to merge on December 27, 2006. For a while, the entity was known as Banco de Oro-EPCI, Inc., but announced that it would go by the name '''Banco de Oro Unibank, Inc.''' starting February 2007. Finally in 2010 Banco de Oro changed its name to BDO Unibank, Inc. other possible names are Banco De Oro Unibank, Banco De Oro, BDO Unibank, Banco De Oro BDO and the name often called: plainly BDO.
+{{main|Banco de Oro–Equitable PCI Bank merger}}
+The current bank is the product of the [[Banco de Oro–Equitable PCI Bank merger]]. The boards of both banks agreed to merge on December 27, 2006.  The new BDO Unibank retained the ticker symbol of the old Banco de Oro, and 1.3 billion BDO shares were issued in exchange for 727 million [[Equitable PCI Bank]] shares.  Equitable PCI Bank was de-listed on June 4, 2007.
+The entity was initially known as Banco de Oro-EPCI, Inc., but announced that it would go by the name Banco de Oro Unibank, Inc. starting February 2007. In 2010 Banco de Oro changed its name to BDO Unibank, Inc.
-As of 2020, BDO has the largest distribution network with over 1,400 operating branches and more than 4,400 ATMs nationwide. It is also currently the country's largest bank in terms of consolidated resources, customer loans, deposits, assets under management and capital, as well as branch and ATM network nationwide.<ref>{{Cite web |title=About BDO: Business Operations |url=https://www.bdo.com.ph/about-bdo/business-operations |access-date=February 16, 2022 |website=BDO}}</ref>
+As of 2020, BDO has the largest distribution network{{cn|date=March 2024}} with over 1,400 operating branches and more than 4,400 ATMs nationwide. It is the country's largest bank in terms of consolidated resources, customer loans, deposits, assets under management and capital, as well as branch and ATM network nationwide as of 2022.<ref>{{Cite web |title=About BDO: Business Operations |url=https://www.bdo.com.ph/about-bdo/business-operations |access-date=February 16, 2022 |website=BDO}}</ref>
-BDO Unibank, Inc's main competitors are major Philippine banks like [[Metropolitan Bank and Trust Company|Metrobank]] and [[Bank of the Philippine Islands|BPI]].
 ==Ownership==
@@ Line 79: / Line 82: @@
 *Sysmart Corporation: 00.14%<ref name="PSE Stockholders Report">{{cite web|url=http://edge.pse.com.ph/openDiscViewer.do?edge_no=682e75d4af1184ce53c347f1867037ec3a1757f21d6fd8cf |title=100 Top Stockholders as of September 30, 2013 |publisher=PSE |access-date=October 9, 2013 |url-status=dead |archive-url=https://web.archive.org/web/20140107035336/http://edge.pse.com.ph/openDiscViewer.do?edge_no=682e75d4af1184ce53c347f1867037ec3a1757f21d6fd8cf |archive-date=January 7, 2014 }}</ref>
-While Philippine Central Depository is listed a major shareholder, it is more of a trustee-nominee for all shares lodged in the PCD system rather than a single owner/shareholder
+While the Philippine Central Depository (PCD) is listed a major shareholder, it is more of a trustee-nominee for all shares lodged in the PCD system rather than a single owner/shareholder. Major beneficial shareholders (''ie'' those who own at least 5% of outstanding capital stock with voting rights) hidden, if any, under the PCD system are checked/identified and are disclosed with the Definitive Information Statement companies are submitting annually to the [[Philippine Stock Exchange|local bourse]] and [[Securities and Exchange Commission (Philippines)|Securities and Exchange Commission]]<ref name="GLOBETELECOM24_IS_DEF">
+{{Cite web |title=PAGE 11 - DEFINITIVE Information Statement of [GLOBE TELECOM], INC.  |url=https://www.globe.com.ph/sites/globe.com.ph/files/2024-03/GLO-Definitive-Information-Statement_SECReceived-March19v2.pdf |access-date=April 4, 2024 |website=Globe Telecom - Investor Relations}}
+</ref>
 ==Subsidiaries and affiliates==
@@ Line 113: / Line 118: @@
 ==Mergers and acquisitions==
-===[[Dao Heng Bank]]===
+===Dao Heng Bank===
 On June 15, 2001, BDO Unibank merged with [[Dao Heng Bank]]'s Philippine subsidiary, with BDO Unibank as the surviving entity. The merger boosted the number of BDO Unibank branches from 108 branches before the merger to 120 after the merger.
 ===1st e-Bank===
-In September 2002, Metro Pacific Corporation (now Neo Oracle Holdings Inc.) sold the operations and 57 branches of 1st e-Bank (formerly PDCP Bank) including its Smart Money [[Mastercard]] debit card issuer (which is a partnership with [[Smart Communications]] until 2017) to BDO Unibank.<ref>{{Cite news |last=Mendez |first=Christina |last2=Diaz |first2=Conrado Jr |date=September 28, 2002 |title=SM’s Banco de Oro to Buy First e-Bank |work=Philstar Global |url=https://www.philstar.com/business/2002/09/28/177693/sm146s-banco-de-oro-buy-first-e-bank |access-date=February 16, 2022}}</ref> it later formally acquired and merged in October of the same year, All 1st e-Bank branches completed integration into the BDO Unibank network, increasing the Bank's number of branches to 177.<ref>{{Cite news |last=Mendez |first=Christina |last2=Diaz |first2=Conrado Jr. |date=October 25, 2002 |title=Banco de Oro Takes Over First e-Bank Operations |language=en-US |work=Philstar Global |url=https://www.philstar.com/business/2002/10/25/181264/banco-de-oro-takes-over-first-e-bank-operations |access-date=February 16, 2022}}</ref>
+In September 2002, [[Metro Pacific Corporation]] (now [[Neo Oracle Holdings Inc.]]) sold the operations and 57 branches of [[1st e-Bank]] (formerly PDCP Bank) including its Smart Money [[Mastercard]] debit card issuer (which is a partnership with [[Smart Communications]] until 2017) to BDO Unibank.<ref>{{Cite news |last1=Mendez |first1=Christina |last2=Diaz |first2=Conrado Jr |date=September 28, 2002 |title=SM's Banco de Oro to Buy First e-Bank |work=Philstar Global |url=https://www.philstar.com/business/2002/09/28/177693/sm146s-banco-de-oro-buy-first-e-bank |access-date=February 16, 2022}}</ref> it later formally acquired and merged in October of the same year, All 1st e-Bank branches completed integration into the BDO Unibank network, increasing the Bank's number of branches to 177.<ref>{{Cite news |last1=Mendez |first1=Christina |last2=Diaz |first2=Conrado Jr. |date=October 25, 2002 |title=Banco de Oro Takes Over First e-Bank Operations |language=en-US |work=Philstar Global |url=https://www.philstar.com/business/2002/10/25/181264/banco-de-oro-takes-over-first-e-bank-operations |access-date=February 16, 2022}}</ref>
-===[[Banco Santander]] Philippines===
+===Banco Santander Philippines===
-In August 2003, BDO Unibank. acquired the local banking unit of [[Banco Santander|Santander]] with its commercial, trust and [[Derivative (finance)|derivatives]] licenses to become BDO Private Bank, a fully owned subsidiary of BDO Unibank. The main goal the BDO Private Bank is to create market share in the [[Private banking]]/Modern Affluent Market segment by penetrating key areas in BDO Unibank's network. This is to complement and explore how the BDO Unibank Group can service all the financial and investment needs of the client.
+In August 2003, BDO Unibank. acquired the local banking unit of [[Banco Santander]] with its commercial, trust and [[Derivative (finance)|derivatives]] licenses to become '''BDO Private Bank''', a fully owned subsidiary of BDO Unibank. The main goal the BDO Private Bank is to create market share in the [[Private banking]]/Modern Affluent Market segment by penetrating key areas in BDO Unibank's network. This is to complement and explore how the BDO Unibank Group can service all the financial and investment needs of the client.
-===[[United Overseas Bank]] Philippines===
+===United Overseas Bank Philippines===
-In late April 2005, [[United Overseas Bank]] sold 66 out of its Philippine subsidiary's 67 branches to BDO Unibank after UOB's Philippine subsidiary is set to rationalize its operations from retail to wholesale banking. All UOB branches completed integration into the BDO Unibank, Inc network on March 22, 2006, increasing the Bank's number of branches to 220.
+In late April 2005, [[United Overseas Bank]] sold 66 out of the 67 branches of its Philippine subsidiary to BDO Unibank after UOB's Philippine subsidiary decided to rationalize its operations from retail to wholesale banking. All UOB branches completed integration into the BDO Unibank, Inc network on March 22, 2006, increasing the BDO's number of branches to 220.
-===[[Equitable PCI Bank]]===
+===Equitable PCI Bank===
+On August 5, 2005, BDO Unibank and an SM subsidiary, [[SM Investments]], bought 24.76% of the shares of [[Equitable PCI Bank]], the Philippines' third-largest bank, and 10% of an Equitable PCI affiliate, Equitable CardNetwork, one of the Philippines' largest [[credit card]] issuers, from the Go Family which founded the bank. BDO Unibank has also been offered a further 10% by another Equitable PCI affiliate, EBC Investments, and a deal is being made to buy (awaiting court approval) the 29% stake of the [[Social Security System (Philippines)|Social Security System]] (SSS), the Philippines' private sector workers' [[pension]] fund. Subsequent acquisitions enabled the bank to acquire a 34% stake in Equitable PCI.
-On August 5, 2005, BDO Unibank and an SM subsidiary, [[SM Investments]], bought 24.76% of the shares of [[Equitable PCI Bank]] , the Philippines' third-largest bank, and 10% of an Equitable PCI affiliate, Equitable CardNetwork, one of the Philippines' largest [[credit card]] issuers, from the Go Family which founded the bank. BDO Unibank has also been offered a further 10% by another Equitable PCI affiliate, EBC Investments, and a deal is being made to buy (awaiting court approval) the 29% stake of the [[Social Security System (Philippines)|Social Security System]] (SSS), the Philippines' [[pension]] fund. Subsequent acquisitions enabled the bank to acquire a 34% stake in Equitable PCI.
 On December 1, 2005, BDO Unibank shares were listed as a component of the [[PSE Composite Index]] for the first time.
@@ Line 140: / Line 144: @@
 ===GE Money Bank===
-In 2009, BDO Unibank completed its acquisition of the Philippine operations of [[GE Money Bank]] with an agreement for GE to acquire a minority stake in BDO Unibank.<ref>{{Cite news |last=Dumlao |first=Doris |date=May 28, 2009 |title=BDO Takes Over GE Money Bank |work=Inquirer.net |url=http://business.inquirer.net/money/breakingnews/view/20090528-207625/BDO-takes-over-GE-Money-Bank |url-status=dead |access-date=December 1, 2011 |archive-url=https://web.archive.org/web/20090531054412/http://business.inquirer.net/money/breakingnews/view/20090528-207625/BDO-takes-over-GE-Money-Bank |archive-date=May 31, 2009}}</ref> In a definitive agreement signed by the two institutions, GE Capital will acquire a 1.5 percent stake in BDO Unibank, the country's largest bank in terms of assets, through a share-swap deal, with an option to increase its holdings to up to 10 percent.<ref>{{Cite news |last=Reyes |first=Liza |date=May 29, 2009 |title=BDO, GE Money to Merge Operations |work=ABS-CBN News |url=https://news.abs-cbn.com/business/05/28/09/bdo-ge-money-merge-operations |access-date=February 16, 2022}}</ref> The takeover will involve absorption of GE Money Bank's 31 branches, 30,000 customers, and 38 ATMs nationwide.
+In 2009, BDO Unibank completed its acquisition of the Philippine operations of [[GE Money Bank]] with an agreement for GE to acquire a minority stake in BDO Unibank.<ref>{{Cite news |last=Dumlao |first=Doris |date=May 28, 2009 |title=BDO Takes Over GE Money Bank |work=Inquirer.net |url=http://business.inquirer.net/money/breakingnews/view/20090528-207625/BDO-takes-over-GE-Money-Bank |url-status=dead |access-date=December 1, 2011 |archive-url=https://web.archive.org/web/20090531054412/http://business.inquirer.net/money/breakingnews/view/20090528-207625/BDO-takes-over-GE-Money-Bank |archive-date=May 31, 2009}}</ref> In a definitive agreement signed by the two institutions, [[GE Capital]] will acquire a 1.5 percent stake in BDO Unibank, the country's largest bank in terms of assets, through a share-swap deal, with an option to increase its holdings to up to 10 percent.<ref>{{Cite news |last=Reyes |first=Liza |date=May 29, 2009 |title=BDO, GE Money to Merge Operations |work=ABS-CBN News |url=https://news.abs-cbn.com/business/05/28/09/bdo-ge-money-merge-operations |access-date=February 16, 2022}}</ref> The takeover will involve absorption of GE Money Bank's 31 branches, 30,000 customers, and 38 ATMs nationwide.
 ===Citibank Savings===
-On November 14, 2013, BDO Unibank. announced its plan to acquire 99.99 percent of Citibank Savings Inc. Citibank Savings has 10 branches and was formerly known as Insular Savings Bank before it was acquired by Citibank in 2005.<ref>{{Cite news |last=Factao |first=Genivi |date=November 14, 2013 |title=BDO to Acquire Citibank Savings |work=BusinessMirror |url=http://www.businessmirror.com.ph/index.php/en/news/top-news/22829-bdo-to-acquire-citibank-savings |url-status=dead |access-date=January 3, 2014 |archive-url=https://web.archive.org/web/20140103214351/http://www.businessmirror.com.ph/index.php/en/news/top-news/22829-bdo-to-acquire-citibank-savings |archive-date=January 3, 2014}}</ref>
+On November 14, 2013, BDO Unibank. announced its plan to acquire 99.99 percent of Citibank Savings Inc. Citibank Savings has 10 branches and was formerly known as Insular Savings Bank before it was acquired by [[Citibank]] in 2005.<ref>{{Cite news |last=Factao |first=Genivi |date=November 14, 2013 |title=BDO to Acquire Citibank Savings |work=BusinessMirror |url=http://www.businessmirror.com.ph/index.php/en/news/top-news/22829-bdo-to-acquire-citibank-savings |url-status=dead |access-date=January 3, 2014 |archive-url=https://web.archive.org/web/20140103214351/http://www.businessmirror.com.ph/index.php/en/news/top-news/22829-bdo-to-acquire-citibank-savings |archive-date=January 3, 2014}}</ref>
-===[[Deutsche Bank]] Philippines===
+===Deutsche Bank Philippines===
 In February 2014, BDO Unibank. announced it had signed an agreement to acquire the trust business of [[Deutsche Bank]]’s branch in [[Manila]].<ref>{{Cite news |date=February 23, 2014 |title=BDO to Acquire Deutsche Bank's Trust Business in Philippines |work=Reuters |url=https://www.reuters.com/article/us-philippines-bdo-deutsche-idUSBREA1N00V20140224 |access-date=February 27, 2014}}</ref>
@@ Line 152: / Line 156: @@
 ===BDO Network Bank (One Network Bank)===
-Before the end of December 2014, BDO Unibank acquired [[BDO Network Bank|One Network Bank]], the country's largest rural bank with 105 branches.<ref>{{Cite news |last=Torres |first=Ted P. |date=December 24, 2014 |title=BDO Acquires Largest Rural Bank |work=Philstar Global |url=https://www.philstar.com/business/2014/12/24/1406016/bdo-acquires-largest-rural-bank |access-date=February 16, 2022}}</ref>
+Before the end of December 2014, BDO Unibank acquired [[BDO Network Bank|One Network Bank]], the country's largest [[rural bank]] with 105 branches.<ref>{{Cite news |last=Torres |first=Ted P. |date=December 24, 2014 |title=BDO Acquires Largest Rural Bank |work=Philstar Global |url=https://www.philstar.com/business/2014/12/24/1406016/bdo-acquires-largest-rural-bank |access-date=February 16, 2022}}</ref>
-One Network Bank changed its name to BDO Network Bank in 2019.<ref name="One Network Bank changed its name">{{Cite news |last=Agcaoili |first=Lawrence |date=September 18, 2019 |title=BDO’s One Network Bank Changes Corporate Name |work=Philstar Global |url=https://www.philstar.com/business/2019/09/18/1952657/bdos-one-network-bank-changes-corporate-name |access-date=February 16, 2022}}</ref>
+One Network Bank changed its name to BDO Network Bank in 2019.<ref name="One Network Bank changed its name">{{Cite news |last=Agcaoili |first=Lawrence |date=September 18, 2019 |title=BDO's One Network Bank Changes Corporate Name |work=Philstar Global |url=https://www.philstar.com/business/2019/09/18/1952657/bdos-one-network-bank-changes-corporate-name |access-date=February 16, 2022}}</ref>
 ==Recent events==
 {{recentism|date=November 2016}}
-===₱1.1-billion IPO===
-In January 2008, [[Viva Films]] chairman Vic del Rosario announced that Viva Communications expects to raise {{Philippine peso|1.1 billion}} ({{US$|1|link=yes}} = {{Philippine peso|41.48|link=yes}}) through approval of the [[initial public offering]] (IPO) by the [[Philippine Stock Exchange]], on listing date of March 5. It plans to sell up ₱92.8 million new shares and {{Philippine peso|49.9 million}} secondary shares at {{Philippine peso|12.93}} per share (offer is 35% of the company's issued and outstanding [[capital stock]]). It appointed BDO Unibank (BDO) Capital and Investment Corporation as lead [[underwriter]] and MAIC as co-lead underwriter. Viva's [[net income]] was {{Philippine peso|121 million}} for January to October 2007, double its 2006 earnings and projects net profit of {{Philippine peso|330 million}} this year.<ref>{{Cite news |last=Thomson Financial |date=January 22, 2008 |title=Viva Films Plans P1.1-Billion IPO |work=Inquirer.net |url=http://showbizandstyle.inquirer.net/breakingnews/breakingnews/view/20080122-114041/Viva-Films-plans-P11-billion-IPO |url-status=dead |access-date=August 21, 2010 |archive-date=February 4, 2011 |archive-url=https://web.archive.org/web/20110204191702/http://showbizandstyle.inquirer.net/breakingnews/breakingnews/view/20080122-114041/Viva-Films-plans-P11-billion-IPO }}</ref>
-===Stable outlook===
-On February 1, 2008, [[Fitch Ratings]] announced, "The Outlook on BDOU's ratings is stable given a benign economic environment. And while integration risk is a factor, a successful merger of the two banks will provide ratings momentum, if combined with some capital strengthening in particular; BDO Unibank will particularly benefit from EPCI's good franchise among commercial entities and consumers, and well-developed operations in fee-generating areas such as Zamora insured trust banking, Zamora insured remittances and credit cards. Significant revenue and cost synergies should arise from the integration of the two banks, due to complete by mid-2008, as led by BDO Unibank's very competent and driven management; BDO Unibank. will raise {{Philippine peso|10 billion}} of Tier 2 capital, and boosting its capital adequacy ratio by 2 percent to 3 percent; With the completion of the merger, BDOU will have a network of 733 branches and 1,200 automated teller machines."<ref>{{Cite news |date=February 1, 2008 |title=Fitch Ratings Gives 'Stable' Rating to BDO |language=en |work=GMA News Online |url=https://www.gmanetwork.com/news/story/78934/money/companies/fitch-ratings-gives-stable-rating-to-bdo/ |access-date=February 16, 2022}}</ref>
-===Lehman Brothers' exposure===
-On September 17, 2008, [[Bangko Sentral ng Pilipinas]] Governor [[Amando Tetangco Jr.|Amando M. Tetangco, Jr.]] announced "due to the uncertainty relating to the financial condition of Lehman Brothers, BDO Unibank is setting aside provisions totaling {{Philippine peso|3.8 billion}} ($80.9 million) to cover its exposure to said entity." BDO Unibank failed to disclose the extent of its exposure to Lehman, stating only that its balance sheet "should be adequately covered from potential losses arising from its Lehman exposure due to MAIC insurance reimbursement. The provisions will come from reallocation of excess reserves and from additional provisions in the current period." BDO Unibank, capitalised at {{Philippine peso|89.8 billion}}, closed 15.4% down to {{Philippine peso|33}}.<ref>{{Cite news |date=September 16, 2008 |title=Philippines Banks Set Provisions for Lehman Exposure |work=afp.google.com |agency=Agence France-Presse |url=http://afp.google.com/article/ALeqM5jgmKoszw98Iog3g4bbT_JnvWzGLw |access-date=February 16, 2022 |archive-url=https://web.archive.org/web/20120924211450/http://afp.google.com/article/ALeqM5jgmKoszw98Iog3g4bbT_JnvWzGLw |archive-date=September 24, 2012}}</ref><ref>{{Cite news |title=Banco de Oro Sets PHP3.8 Billion Provision For Lehman Exposure |work=CNNMoney |url=https://money.cnn.com/news/newsfeeds/articles/djf500/200809152123DOWJONESDJONLINE000815_FORTUNE5.htm |url-status=dead}}</ref><ref>{{Cite news |date=September 17, 2008 |title=Philippine Banks Set Aside Funds After Lehman Collapse |work=M&C |agency=Deutsche Presse-Agentur |url=http://www.monstersandcritics.com/news/business/news/article_1431347.php/Philippine_banks_set_aside_funds_after_Lehman_collapse_ |url-status=dead |access-date=February 16, 2022 |archive-url=https://web.archive.org/web/20110520060402/http://www.monstersandcritics.com/news/business/news/article_1431347.php/Philippine_banks_set_aside_funds_after_Lehman_collapse_ |archive-date=May 20, 2011}}</ref> BDO Unibank said, however, on September 19 that "it had a total exposure of $ 134 million to bankrupt U.S. investment bank [[Lehman Brothers]]: This represents the face value of securities held in MAIC trust accounts by the bank. Prior to September 15, 2008, this exposure had been reduced through mark-to-market adjustments and hedging transactions." The BSP data revealed BDO Unibank set aside a buffer equivalent to 60% of its exposure into MAIC trust and clearing accounts. Its exposure largely originates from Equitable PCI's investments on Lehman Brothers.<ref>{{Cite news |date=September 19, 2008 |title=Philippines' BDO Says Exposure to Lehman at $134 Mln |language=en |work=Reuters |url=https://www.reuters.com/article/philippines-banks-lehman-idUSMAN36424920080919 |access-date=February 16, 2022}}</ref><ref>{{Cite news |last=Dumlao |first=Doris |date=September 19, 2008 |title=7 Philippine Banks Have $386M in Exposure to Lehman |work=Inquirer.net |url=http://business.inquirer.net/money/topstories/view/20080919-161523/7-Philippine-banks-have-386M-in-exposure-to-Lehman |url-status=dead |access-date=February 16, 2022 |archive-url=https://web.archive.org/web/20110721155019/http://business.inquirer.net/money/topstories/view/20080919-161523/7-Philippine-banks-have-386M-in-exposure-to-Lehman |archive-date=July 21, 2011}}</ref>
-===Cash accepting machine===
-The BDO cash accepting machine (CAM) is a self-service facility that allows BDO clients to deposit cash anytime to any BDO account with an AT without having to transact over-the-counter. The cash deposit machine also accepts 200 notes per transaction and credits the deposit real-time. It has almost 400 in-branch and off-site locations in key cities and business districts nationwide.<ref>{{Cite web |title=BDO Cash Deposit Machine |url=https://www.bdo.com.ph/ebanking/cash-deposit-machine |url-status=dead |archive-url=https://web.archive.org/web/20190204014246/https://www.bdo.com.ph/ebanking/cash-deposit-machine |archive-date=February 4, 2019 |access-date=February 3, 2019 |website=BDO}}</ref>
 ===EMV Debit Card===
-BDO is the first local bank in the country to roll out a debit card with an [[EMV]] chip embedded on it. The EMV chipping system, just like the ones on credit cards will also [[Credit card skimming|enhance the security]] of the [[Debit card|card]]holders. The cards were released in 2016.<ref>{{Cite web |last=BDO Unibank |date=April 15, 2016 |title=BDO Is the First Local Bank to Roll out EMV Debit Card |url=https://www.facebook.com/BDOUnibank/photos/a.1545223422360487.1073741828.1534645913418238/1720156194867208/?type=3&theater  |archive-url=https://ghostarchive.org/iarchive/facebook/1534645913418238/1720156194867208 |archive-date=February 26, 2022 |url-access=limited|via=Facebook}}{{cbignore}}</ref>
+BDO is the first local bank in the country to roll out a debit card with an [[EMV]] chip embedded on it. The EMV chipping system, just like the ones on credit cards will also [[Credit card skimming|enhance the security]] of the [[debit card]] holders. The cards were released in 2016.<ref>{{Cite web |last=BDO Unibank |date=April 15, 2016 |title=BDO Is the First Local Bank to Roll out EMV Debit Card |url=https://www.facebook.com/BDOUnibank/photos/a.1545223422360487.1073741828.1534645913418238/1720156194867208/?type=3&theater  |archive-url=https://ghostarchive.org/iarchive/facebook/1534645913418238/1720156194867208 |archive-date=February 26, 2022 |url-access=limited|via=Facebook}}{{cbignore}}</ref>
 In 2017, they also introduced the EMV [[Visa Debit]] Card.<ref>{{Cite web |title=BDO Depositor's Thread – Page 29 |url=https://www.pinoyexchange.com/discussion/618519/bdo-depositors-thread/p29 |access-date=January 23, 2019 |website=PinoyExchange}}</ref>
@@ Line 202: / Line 194: @@
 * {{Official website|https://www.bdo.com.ph/}}
 * {{Commons-inline|Category:BDO Unibank|BDO Unibank}}
+* [https://cashloanph.com/bdo-exchange-rate-today/ BDO Exchange Rate Today]
 {{PSEi}}
-{{10 Largest Banks of the Philippines}}
 {{Banks of the Philippines}}
 {{SMPH}}
@@ Line 214: / Line 206: @@
 [[Category:Companies based in Mandaluyong]]
 [[Category:SM Investments]]
+[[Category:Multinational companies headquartered in the Philippines]]
+[[Category:Companies in the PSE Composite Index]]

v t e Banks in the Philippines
Bangko Sentral ng Pilipinas
Universal banks	Asia United Bank BDO BPI Chinabank EastWest Bank Metrobank PNB Philtrust RCBC Security Bank UnionBank
Government banks	Al-Amanah Islamic Investment Bank of the Philippines DBP Landbank OFB
Commercial banks	Bank of Commerce Chinatrust HSBC Maybank PBCom Standard Chartered Veterans Bank
Thrift banks	BPI Direct Savings Bank China Bank Savings CitySavings Citystate PBB PSBank Queenbank Security Bank Savings
Digital banks	CIMB Bank GoTyme Bank ING Philippines Maya Bank Tonik
Other banks	Cooperative banks Rural banks
Defunct	Allied Bank (merged with PNB) Banco Filipino Citibank (merged with UnionBank) Equitable PCI Bank (merged with BDO) Exportbank (merged with UnionBank) International Exchange Bank (merged with UnionBank) Plantersbank (merged with Chinabank) Premiere Development Bank (merged with Security Bank) UCPB (merged with Landbank) RBank (merged with BPI)