As the Philippines’ largest bank, BDO Unibank’s goal is to continuously serve as an impetus for the growth of its clients – from large corporates and mid-cap companies to SMEs, micro-businesses, and individuals from various walks of life – powered by its strong commitment to always finds ways to respond to their needs and through the various financial products solutions it offers.
BDO then and now
What began as a small savings bank, BDO Unibank soon emerged as a key player in Philippine banking on the back of expansion through organic growth as well as mergers and acquisitions.
BDO Unibank ranked 19th among the country’s commercial banks in 1997, and then ascended to the 2nd spot in 2007 following its merger with Equitable PCI Bank. In 2008, during the global financial crisis, it became the Philippines’ biggest bank and has since maintained its leadership.
Corporate and institutional banking, retail banking, rural banking, private banking, investment banking and transaction banking are just some of the businesses in which BDO Unibank is widely regarded as the undisputed industry leader within the Philippines. And with 16 international offices including remittance offices in Europe and North America, a representative office in the Middle East, and 10 offices in Asia, in addition to the roughly 1,551 branches and offices in the Philippines, BDO Unibank has also established itself as a reliable player on the international stage of global banking.
BDO Remittance USA is serving as the Bank’s window to the North American market and a strong link to overseas Filipinos residing and working there. This enhances BDO Unibank’s visibility and global presence, and helps diversify and broaden its shareholder base – a must, with its presence in capital markets and having several American institutional investors as shareholders.
BDO Unibank’s solid relationship with the Washington DC-based International Finance Corporation (IFC) spans over 20 years, the latter formerly being a strategic shareholder of the bank. This partnership is also another testament to the ever-growing bilateral ties between the US and the Philippines.
“The United States has long been seen as a big brother to the Philippines. Filipinos still consider the US as their defender, supporter, and partner all rolled into one,” noted BDO Unibank president and chief executive officer Nestor V. Tan.
Finding ways through the pandemic
As a financial institution and an essential service, BDO Unibank’s response during the pandemic was key to continuing to provide clients with unimpeded access to their accounts and banking services, while ensuring the health and safety of its workforce.
It worked through challenges that included a slowdown in activity due to multiple lockdowns, higher credit costs due to delinquencies, curfew restrictions, limited infrastructure and basic services for the employees, and a heightened need for services by customers (such as liquidity, payroll and remittance among others).
BDO Unibank had to make key adjustments to cope with the unprecedented times – by nimbly shifting operations to ensure continued operations to setting work-from-home arrangements where appropriate, instituting regular testing for its employees, retrofitting office spaces, regularly disinfecting its offices and premises, and providing health assistance for staff and their families to name a few.
With all these, BDO Unibank continues to remain committed to delivering on its promise to find ways – for the customers it serves and the communities it is a part of.