BDO Unibank has once again been named the Philippines’ best bank by Hong Kong-based financial publication Finance Asia.
At the recently concluded Finance Asia Country Awards for Achievement 2017, Finance Asia attributed the recognition to BDO’s stellar financial performance in 2016, as well as the aggressive expansion of its branch network and Automated Teller Machine presence all over the country.
“Our best bank in the Philippines this year is BDO Unibank, which delivered record 2016 earnings on the back of strong results from its core businesses,” said Finance Asia, which has given the award to the bank numerous times in the past.
“BDO continued its branch build-out to broaden customer reach in underserved areas. BDO’s network now includes more than 1,100 branches and over 3,600 ATMs. Most of its branch openings were outside Metro Manila as the bank is now targeting fast growing secondary and tertiary cities,” it said.
BDO posted a record net income of P26.1 billion in 2016—in line with its earnings guidance—from P25 billion in 2015.