Sy family-led BDO Unibank is the “strongest bank” in the Philippines, according to Singapore-based banking publication The Asian Banker.
This ranking is based on The Asian Banker’s annual assessment of the financial and business performance of the banking industry in the Asia Pacific, Middle East and Africa regions.
The banks are rated on a scale of zero to five in six areas, namely: the ability to scale, balance sheet growth, risk profile, profitability, asset quality and liquidity.
“The top 20 strongest banks in the Asia Pacific region included 10 Hong Kong banks, four Chinese banks, two Singapore banks, and one each from Australia, Brunei, Japan, Malaysia and New Zealand. Banks in Hong Kong, Singapore and Australia achieved the highest weighted average strength score, at 4.10, 3.51 and 3.34 out of 5, respectively, except for Brunei, which has only one bank on the list,” The Asian Banker said in a statement.
This recognition follows BDO’s “Mortgage Product of the Year Award” at the recently held The Asian Banker Philippines Country Awards 2018.
The award recognized the bank’s extensive network as the main driver of its consumer loans business.
BDO has a network of more than 1,000 branches nationwide, the widest in the country. It has resources amounting to nearly P2.7 trillion, making it the largest bank in the Philippines.