BDO, investment bank unit bag top awards

BDO Unibank is the “best” local bank in the Philippines while its subsidiary BDO Capital and Investment Corp. is at the top of the country’s investment banking segment, according to Hong Kong-based The Asset Magazine.

In the recently concluded The Asset Triple A Country Awards 2013 held in Hong Kong, BDO—the country’s biggest bank—was named the country’s “best domestic bank” on the back of its “sustained sound financial performance.”

The Asset highlighted BDO’s profit growth of 73 percent for the first nine months of 2013 due to higher gross customer loans and total deposits registered during the period, BDO noted in a press statement.

BDO Capital, meanwhile, won its eighth consecutive “best domestic investment bank” award, signifying its continued leadership in debt and equity transactions and financial advisory deals.

The Asset cited BDO Capital’s several equities transactions valued at P138 billion that it brought to the market. Also cited were P492.3 billion worth of debt capital markets deals in the form of notes, bonds and loans denominated in either peso or US dollar for a number of corporations and government entities in which BDO Capital either participated or was a lead manager.

BDO is a full-service universal bank that provides a wide range of corporate and retail banking services. These services include traditional loan and deposit products as well as treasury, trust banking, investment banking, private banking, cash management, leasing and finance, remittance, insurance, retail cash cards and credit card services. It is led by chair Teresita Sy-Coson and president Nestor Tan.

The bank is on track to meet its P20.4-billion net profit guidance for 2013 and is preparing for the much-expected industry-wide decline in extraordinary trading gains for 2014.

BDO Capital is led by its president Eduardo Francisco.