During its 14th Financial Institution Awards, Alpha Southeast Asia named BDO Unibank, Inc. as the Best Bank in the Philippines, as well as the Best Cash Management Bank. The financial publication also honored the branches of the bank headed by BDO Private Bank, which for the 13th consecutive year, won the Best Wealth Management Bank in the Philippines. Investment banking arm, BDO Capital and Investment, for its part, was awarded the Best Equity House in the Philippines.
Alpha Southeast Asia gives BDO the ‘Best Bank in the Philippines for 2020’ title
From June 2019 to May 2020, Alpha Southeast Asia assessed the deals and transaction volumes of financial institutions located in Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. After a “thorough and intensive” phase, it completed the list of awardees this year.
“These are truly important awards for BDO, especially during this time. They belong to the bank’s 38,000-strong workforce. Because of their commitment and resourcefulness to serve Filipinos amid the new normal, we are now operating at 100%—a true testament to the ‘We Find Ways’ philosophy of BDO,” said Nestor V. Tan, president, and chief executive officer of BDO.
Best Bank & Cash Management Bank
In the Financial Institution Awards, BDO is a 9-time Best Bank in the Philippines Award recipient. Alpha Southeast Asia noted the durability of the bank against a very difficult backdrop this year:
“Despite a global economic slowdown, the resilience of the local economy has helped banks like BDO surpass previous highs including significant improvement on profitability, net income, bank’s cost-to-income ratio, asset quality as well as total shareholder returns.”
The financial publication also illustrated the strategy of BDO to ensure cash accessibility for its customers with the Best Cash Management Bank in the Philippines Award for the fifth time. It praised the bank’s consulting style and innovative ways to satisfy the continuously evolving needs of its clientele.
For optimum convenience and productivity, Alpha Southeast Asia also highlighted the contribution of BDO to shifting corporate payroll from manual cash delivery to automated account crediting.
Best Wealth Management Bank & Equity House
“BDO Private Bank is a unique institution unlike any other in the Philippines, and elsewhere. In a country where the biggest exports are its own people… it has carved out a niche to service an emerging segment of wealthy individuals,” said Alpha Southeast Asia.
It credited the 13-year reign of BDO Private Bank as the Best Wealth Management Bank in the Philippines to its open architecture model, which offers customers the ability to plan their investment strategies and attain the best returns.
While many global private banks faced cutbacks from high net worth individuals combined with an all-time low level of trust, the finance magazine observed that BDO Private Bank saw progress in its balance sheet, “which is perhaps the greatest proof why its business model inarguably works best.”
BDO Capital collaborated with several small, medium, and very large businesses from different sectors during the awards period and helped close their transactions. Alpha Southeast Asia awarded the BDO affiliate with the Best Equity House in the Philippines Award for the fifth time, calling it “one of the most powerful equity market distribution platforms in the Philippines today” to show its experience during each successful deal.
The financial publication forecasts that with the nation returning to the radar of international investors and the improving success of the Philippine Stock Exchange, BDO Capital is poised to sustain the upward movement of its market share.
BDO Unibank took home other titles from Alpha Southeast Asia in the Philippines category earlier this year.
11th Annual Fund Management Awards
- Best Asset Manager (Fixed Income Bonds)
- Best Online & Mobile Platform (Asset Manager)
- Best Fund with the optimal Sharpe ratio
- Best Fund Manager for Pension Mandates & Private Retirement Schemes
10th Annual Treasury & Foreign Exchange (FX) Awards
- Best FX Bank for Structured Hedging Solutions and proprietary Trading Ideas
- Best Corporate Treasury Sales and Structuring Team
ALSO READ: Why You Should Support Local Businesses
About BDO Unibank, Inc.
BDO is a full-service universal bank, which 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, rural banking, cash management, leasing and finance, remittance, insurance, retail cash cards, and credit card services.
BDO has the country’s largest distribution network, with over 1,400 consolidated operating branches and more than 4,400 ATMs nationwide. It also has full-service branches in Hong Kong and Singapore as well as 15 overseas remittance and representative offices in Asia, Europe, North America, and the Middle East.
BDO ranked as the largest bank in terms of total assets, loans, deposits, and trust funds under management based on published statements of condition as of March 31, 2020. For more information, please visit www.bdo.com.ph.