Banco de Oro Universal Bank
.svg) |
|
| Public | |
| Traded as | : BDO |
| Industry | Finance and Insurance |
| Founded |
Manila, Philippines 1968 (as Acme Savings) 1976 (as BDO) |
| Headquarters |
Makati, Philippines (BDO Corporate Center) |
|
Number of locations
|
1,103 branches (2016) 3,195 ATMs (2015) |
|
Key people
|
Nestor V. Tan (President and CEO) Teresita T. Sy-Coson (Chairwoman) |
| Products | Financial Services |
| ₱26.1 billion (2016) | |
| Total assets | ₱2.198 trillion (2016) |
|
Number of employees
|
28,217 (2015) |
| Website | www |
BDO Unibank, Inc. is a Philippine banking company based in Makati. In terms of total assets, the firm is the largest bank in the Philippines, the 116th largest bank in Asia, and the 234rd largest bank globally as of March 31, 2016. BDO Unibank is also a member of SM Group owned by Henry Sy.
The firm 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 Stock Brokerage services.
BDO Unibank, Inc. had its humble beginnings on January 2, 1968, when it started off as a thrift bank called Acme Savings Bank. With two branches in Metro Manila, Acme was one of the smallest banks in the Philippines at the time.
In November 1976, Acme was acquired by the Sy Group, the group of companies currently owned by retail magnate Henry Sy, and renamed Banco de Oro Savings and Mortgage Bank.
In December 1994, BDO became a commercial bank. To reflect the bank's new status, BDO was renamed Banco de Oro Commercial Bank, and 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, Inc.). It is one of the many banks owned by a Chinese-Filipino in the Philippines (others include Metrobank and Chinabank).
BDO Unibank, Inc. 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, Inc. expanded its insurance services through partnerships with Zamora Assurance and Assicurazoni Generali s.p.a., one of the world's largest insurance firms, and Jerneh Asia Berhad, a member of Malaysia's Kuok Group. Later, BDO Unibank, Inc. partnered up with its insurance affiliates, which are Generali Pilipinas Life Assurance Company and Generali Pilipinas Insurance Company, in March 2000.
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Wikipedia