BDO bags Asia award

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TYCOON Henry Sy-led Banco de Oro Unibank was named “Best Asian Bank” for 2013 by FinanceAsia, making history as the first Philippine bank to win the prestigious regional award.

BDO was chosen from a shortlist that included ICBC (China), HDFC (India), Bank Central Asia (Indonesia), Shinhan Financial (Korea), Public Bank (Malaysia), DBS (Singapore), CTBC (Taiwan) and Siam Commercial Bank (Thailand).

FinanceAsia announced in a newsletter Friday that BDO had broken the winning streak for Malaysia’s Public Bank, which has won the award for the last three years.

“It represents the first time FinanceAsia has given this award to a Philippine bank, reflecting the rise in fortunes of the country, notably its improved credit rating,” the newsletter said.

FinanceAsia said the award was determined by ranking the winners of “Best Bank” in each market along several criteria, with data provided by SNL Financial. The criteria included year-on-year change in profitability, net interest margin, loan-to-asset ratios, return on equity, price-to-book ratios, non-performing loan levels and analyst ratings as well as credit ratings. Doris C. Dumlao

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  • eight_log

    Mostly OFW monies … spent by Henry Sy with no collateral and at very low interest rates …. beware OFWs … one day you will wake up with your savings gone … pagka nagcollapse ang property market tapos ang boxing!!!!

  • NEILMCNALLY

    Ok The Inquirer…you have had time to moderate my comment..NOW post it here with the other two letters,please.No censorship,understand!!

  • carlcid

    Those familiar with the services of various Philippine banks know that this award to BDO means nothing. BDO may be profitable for its owners, but it doesn’t stand out as a model for its clients. As a matter of fact, its services suck.

    Now, in the context of ASEAN integration, BDO, which is the Philippines’ largest bank, does not even figure among the top 20 largest banks in ASEAN. In banking, size does matter, and Philippine banks are still very small with respect to our ASEAN neighbors.

  • Iggy Ramirez

    Why does this news getting a lot of publicity lately? There was already an earlier report about this one with a different headline. Is it because BDO is giving away some money to PDI for publicite? OK. I will rehash my comment from the earlier report:

    With the awarding of a used-to-be prestigious “Best Asian Bank” to Banco de Oro, the FinanceAsia has altogether lost its credibility.

    Imagine bestowing the highest award to a bank that had accounts hacked and funds stolen in two separate occasions. A bank that does not allow transfer of funds to other banks. A bank that restricts all other uses outside its own network, and a myriad of other atrocities, especially useless call center services, whose employees treat concerns like stupid jokes.

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