UK-based financial publication, The Banker revealed that the Philippines’ Banco de Oro Unibank is now among the top 400 banks worldwide.
The Banker in its latest survey reported that BDO, the main banking arm of the SM Group of Companies improved its ranking by 40 notches from 436th in 2009 to 396th to this year.
The rankings are based on the definition of Tier 1 capital as prescribed by Basel’s Bank for International Settlements (BIS), considered as the central banks of all central banks.
“The object of the survey is to show the bank’s soundness in relation to the Basel requirement of a minimum ratio of Tier 1 capital to risk-weighted assets of four percent and a minimum ratio of total capital to risk-weighted assets of eight percent,†according to The Banker.
BDO, which leads the industry in corporate, retail, investment banking and insurance services, has also been a recipient of various accolades from both local and international award-giving bodies, including Euromoney, FinanceAsia, Asiamoney and Wall Street Journal.
BDO presently operates 704 branches (including 20 overseas offices and branches) and 1,200 ATMs, and the impending acquisition of Export and Industry Bank would add another 50 branches most of which are strategically located in Metro Manila. - source: goodnewspilipinas.com
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