BDO Unibank has reclaimed the Best Bank in the Philippines honor at the recently concluded Euromoney Awards for Excellence.
The London-based financial publication said “the award returns to BDO this year, the biggest bank in the Philippines and one in excellent health.”
Euromoney particularly highlighted the 2016 financial performance of the Bank, including its consistently strong capital base.
“Last year, it delivered the highest profits ever in the industry and did so with a 15 percent rise in net interest income; 16 percent expansion of the loan portfolio; 15 percent increase in total deposits and a 15 percent rise in fee-based income,” it said in a statement.
Euromoney also noted the bank’s solid capital base, which it further bolstered in January 2017 when it successfully completed its rights offer, raising a total of P60 billion in fresh capital and boosting the bank’s consolidated capital adequacy ratio to an estimated 15.7 percent.
“BDO is seeking new niches and markets. Key imperatives are reaching more remote parts of the Philippines and supporting micro enterprises all over the country,” the statement said.
“Life insurance is growing after the assumption of full control over the bank’s joint venture with Generali. Wealth management has great potential through a joint venture with Nomura Group, and there is progress in auto financing and digital infrastructure,” it added.
Euromoney Awards for Excellence was established in 1992 and was the first of its kind in the global banking industry. Euromoney has been the leading publication for covering the growth of international finance for nearly 50 years.
