Banking Excellence. Tim Charlton, editor-in-chief of Asian Banking & Finance, hosted a virtual awarding and Q&A with BDO executives: Mario Deriquito (top center), president of BDO Foundation; Albert Yeo (top right), president of BDO Private Bank; Edwin Reyes (bottom left), executive vice president and transaction banking head of BDO Unibank; and Eduardo Francisco (bottom right), president of BDO Capital.
BDO Unibank, Inc. and its two subsidiaries brought home major accolades from Asian Banking and Finance (ABF) for exemplifying banking excellence.
BDO Unibank won the Domestic Cash Management Bank of the Year-Philippines Award for ABF Wholesale Banking Awards while BDO Capital & Investment Corporation received the Corporate and Investment Bank of the Year-Philippines Award and Green Deal of the Year Award under the ABF Corporate & Investment Banking Awards. Meanwhile, BDO Private Bank was recognized with Wealth Management Platform of the Year-Philippines Award in the ABF Retail Banking Awards.
The Singapore-based publication recognized more than a hundred banks from 30 countries. “As we have seen in this year’s winners, banks were still able to navigate and up their game even during the pandemic. We are looking forward to seeing how they will continue to provide the best service to clients in spite of these very difficult times,” ABF Publisher Tim Charlton said.
Promoting cash accessibility
For the third straight year, ABF awarded BDO Unibankwith the Domestic Cash Management Bank of the Year-Philippines for its “ingenuity in applying digital and practical solutions to provide a suite of convenient cash management solutions” for their clients. The publication underscored the bank’s efforts in giving clients greater access to cash through its expansive network of branches and ATMs.
In 2019, BDO enabled over Php7 trillion worth of transactions from Php5.8 trillion in the previous year. It also launched the Corporate Cash Deposit Machine (CCDM) where clients can deposit cash and update their accounts in real-time.
To help manage their accounts more conveniently, the bank encouraged its clients to take advantage of its electronic channels such as Auto Debit Arrangement, Auto Credit Arrangement, and Fund Transfer. As a result, its transaction volume for these services increased by almost 40%.
Driving national progress
“BDO Capital continues to prove why it is the top investment house in the Philippines,” said ABF for awarding BDO Capital with the Corporate and Investment Bank of the Year-Philippines for the third consecutive year. It noted the bank’s efforts as “advisor and deal arranger of several merger and acquisition (M&A) deals across several industries that include fast-moving consumer goods, healthcare, real estate, insurance, amongst others.”
The financial publication highlighted BDO Capital’s role as issue manager, underwriter, and book runner for the preferred shares issuances of Petron Corporation and Arthaland Corporation; one of joint solicitation agents for the consent solicitation from bondholders of San Miguel Corporation; and trusted advisor for the 10-year fixed rate bonds due 2024 of PLDT.
ABF also recognized BDO Capital with the Green Deal of the Year-Philippines Award for its role as sole transaction manager, lead arranger, and book runner in funding the country’s largest solar power plant in Cadiz City, Negros and helping advocate sustainable and renewable power development.
Deepening client relationships
At the end of 2019, BDO Private Bank recorded profits at Php878 million from Php301 million the year before; total assets under management (AUM) at Php451.69 billion; and trusteed accounts at Php70 billion, which grew by 11%. The bank attributes its success to the strength of its relationship with its clients and their continued trust.
BDO Private Bank recently introduced physical gold to its suite of investment offerings. Clients who availed of it gained a balanced portfolio, benefited from its hedge characteristic, and enjoyed returns in 2019.
For ABF, the bank’s success translates to being “the preferred wealth management platform amongst high net worth and emerging wealthy clients in the Philippines.” Its Wealth Management Platform of the Year-Philippines Award recognizes BDO Private Bank’s impressive growth, commitment to enhancing bank-client relationship, and “notable market sense in introducing alternative investments against future economic uncertainties.”