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BDO remains the strongest lender in PH

BDO Unibank Inc., the biggest lender controlled by tycoon Henry Sy, remains the country’s strongest bank this year, according to The Asian Banker Strongest Banks By Balance Sheet list.

The Asian Banker Strongest Banks By Balance Sheet is an annual assessment of the financial and business performance of the banking industry in the Asia Pacific, Middle East and Africa region.

The banks are rated on a scale of 0-5 in six areas, namely the ability to scale, balance sheet growth, risk profile, profitability, asset quality and liquidity.

“The top 20 strongest banks in the Asia Pacific region included 10 Hong Kong banks, four Chinese banks, two Singapore banks, and one each from Australia, Brunei, Japan, Malaysia, and New Zealand,” the publication said.

“Banks in Hong Kong, Singapore and Australia achieved the highest weighted average strength score, at 4.10, 3.51 and 3.34 out of 5, respectively, except for Brunei, which has only one bank on the list,” The Asian Banker said in a statement.

The recognition follows BDO’s Mortgage Product of the Year Award at the recently held The Asian Banker Philippines Country Awards 2018. The award recognized the bank’s extensive network as the main driver of its consumer loans business.

BDO has a network of over 1,000 branches nationwide, the widest in the country. Through this network, the bank is able to tap opportunities in high-growth areas as well as promote financial inclusion.

BDO’s net income climbed 18 percent in the third quarter to P8.4 billion from a year ago, on solid expansion of core lending and deposit-taking, life insurance and fee-based businesses.

The third-quarter net results also represented a 15-percent rise from P7.3 billion in the second quarter.

Total profit in the first nine months hit P21.5 billion, up 6 percent from the same period last year.

BDO said excluding the results of BDO Life, which was impacted by PFRS9’s mark to market on its investment portfolio and One Network Bank’s ongoing investment in the micro-SME lending business, net income would have registered a 13-percent growth in January to September.

The bank said lending operations posted a 17-percent increase in gross customer loans to almost P2 trillion, led by the middle-market and consumer segments.

Topics: BDO Unibank Inc. , Henry Sy , The Asian Banker Strongest Banks By Balance Sheet
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