BDO is top PH bank in world listPhilippine Daily Inquirer
Most Philippine banks led by biggest player Banco de Oro Unibank improved their rankings in the latest annual list of the world’s top 1,000 banks by London-based The Banker magazine.
BDO, the Philippine bank with the highest ranking in the list, improved by 145 notches in 2013. The banking arm of tycoon Henry Sy now holds the 251st spot, rising from 396th place in 2012, on the back of an enhanced overall performance, particularly in terms of tier 1 capital, assets and profit.
BDO’s stiffest rivals Metropolitan Bank and Trust Co. and Bank of the Philippine Islands likewise improved their rankings in the global list to 333rd and 386th, respectively, from 375th and 409th in the previous year.
Rizal Commercial Banking Corp. (642nd), Security Bank (655th), China Bank (663rd) and Union Bank (702nd) were also among the Philippine banks on the list. RCBC and Security Bank improved their respective rankings this year while China Bank was not included in the previous list.
Other Philippine banks that landed on the top 1,000 list this year were PNB (765th), Philtrust Bank (986th) and East West Bank (992nd). Philtrust and Eastwest were not previously included in the list. On the other hand, PNB’s ranking slipped from the previous year’s 699th.
The Banker publishes its Top 1000 World Banks ranking since 1970, providing intelligence about the health and wealth of the banking sector. The report enables investors and clients worldwide to assess the strength and weakness of the banks, identify banking partners for the future and track the big movers and new arrivals in the sector.
“The banking landscape has altered dramatically since the global financial crisis made its impact felt five years ago. The Banker looks at the performances of the leading banks in the world to see which financial institutions have coped best,” The Banker said in its ranking, which was published in the August issue.
While there was no perfect way to measure bank performance, The Banker said core or tier 1 capital was its chosen measure for the Top 1000 ranking, being the “best indication of a bank’s strength and solidity.” Doris C. Dumlao