BDO Private Bank hikes managed funds to P243 B

MANILA, Philippines - BDO Private Bank (BDOPB) has increased its assets under management (AUM to P243 billion as of end-2013, breaching its target of P240 billion.

This made BDOPB as the top private bank in the Philippines, based on the survey by Euromoney.

BDOPB, a subsidiary of BDO Unibank Inc., primarily serves the affluent market. It offers peso and foreign currency settlement accounts, multi-currency deposits and fixed-income securities and derivatives.

It also excels in family office series, offering investment and asset management, family office administration, and corporate governance and reporting.

The Euromoney Private Banking Survey 2014 has named BDOPB as the country’s best in private banking services overall, a citation it also garnered the previous year.

The Euromoney survey is considered the industry’s leading barometer of the world’s best service and product providers to the world’s wealthy.

It covers more than 35 different product and client categories on a global and regional basis, and has ranking results in 73 countries based on a combination of bank-provided data and peer review.

Euromoney annually conducts a private banking survey that provides qualitative and quantitative review of the best services in private banking by country, region and globally, and by areas of service.

Factors such as assets under management, profitability, ratio of clients to relationship managers and services offered, among other things, are all considered in developing the ranking of top private banks.

BDOPB remains as the only banking institution solely focused on the domestic private banking market, providing financial, investment and estate advisory services anchored on an open architecture and bespoke platform.