MANILA, Philippines – The global ranking of BDO Unibank Inc. climbed 12 places as it posted a record profit of P25 billion in 2015 and continued to dominate the banking industry in the Philippines, UK-based publication The Banker reported.
Based on the 2016 list released by the publication, the ranking of BDO in the Top 1000 World Banks improved to 243rd this year from 255th place the previous year.
The list showed BDO is still the leading bank in the Philippines given its strength, size, healthy earnings and stable performance.
BDO’s net income grew 10 percent to an all-time high of P25 billion last year on robust growth across all business segments despite the challenging operating environment.
The country’s largest bank owned by retail and banking magnate Henry Sy also achieved another milestone by becoming the first domestic bank to reach the P2-trillion mark in total assets.
It is on its way to deliver its promised earnings of P26 billion this year as its net income rose 13 percent to P13.2 billion in the first half from P11.7 billion in the same period last year.
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BDO has more than 1,000 operating branches and over 3,000 ATMs nationwide. It also has a branch in Hong Kong as well as 26 overseas remittance and representative offices in Asia, Europe, North America and the Middle East.
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.
The Top 10 World Banks are ICBC, China Construction Bank, JP Morgan Chase & Co., Bank of China, Agriculture Bank of China, Bank of America, Citigroup, Wells Fargo & Co., HSBC and Mitsubishi UFJ Financial Group.
The Banker is among the several international publications that consistently recognized BDO’s strong performance in the local banking sector.
