BDO gains in ranking of world’s top banks

MANILA, Philippines - BDO Unibank (BDO), of retail and banking magnate Henry Sy, has managed to advance its standing in the Top 1000 World Banks list of UK-based The Banker for 2015.

The rank of BDO in the Top World Banks 2015 improved to 255 this year from the previous year’s 268.

The same list also tagged BDO as the undisputed leader in the Philippines in terms of Tier-1 capital, assets, solid performance and robust earnings. 

The Top 1000 World Banks ranking has been setting the industry benchmark since the 1970s providing comprehensive intelligence about the health and wealth of the global banking sector.

It allows investors and clients all over the world to evaluate the strength and weakness of the banks, identify banking partners for the future, and track the big movers and new arrivals in the sector.

Earnings of BDO went up 5.9 percent to P11.7 billion in the first half of the year on the back of steady growth in its core lending business.

The bank reported a 10 percent rise in net interest income, while income from fee-based services and treasury activities grew 14 percent from January to June this year.

BDO reported a 16 percent increase in its customer loan portfolio to P1.1 trillion. It also managed to keep the increase in its operating expenses at 10 percent in the first half of the year.

The bank’s asset quality showed sustained improvement with a gross non-performing loan (NPL) ratio of 1.2 percent compared to a year-ago level of 1.6 percent.

It set aside provisions of P2.1 billion leading to a higher NPL coverage of 198 percent as of end June this year from 174 percent in end June last year.

BDO maintained a solid capital base of P181 billion translating to a capital adequacy ratio (CAR) of 13.6 percent and common equity tier 1 (CET1) ratio of 11.5 percent.

BDO remains the largest bank in terms of total assets, loans, deposits, and trust funds under management. It has 899 operating branches and over 2,700 ATMs nationwide.

It also has a branch in Hong Kong as well as 27 overseas remittance and representative offices in Asia, Europe, North America, and the Middle East.