What is BDO bank? The complete overview about BDO Unibank
The current domestic and international banking network in our country is extremely rich, there are many banks offering many attractive incentives to attract customers. According to statistics, BDO bank dominates the largest market share of Philippines to 18%.
So what is BDO Bank? Is it reputable? Why do you have such a large number of customers? Follow Fastloans.PH find out in the article below.
BDO bank information summary sheet
| Philippines trading name | Banco de Oro Universal Bank |
| English trading name | Banco de Oro Universal Bank |
| Short name | BDO |
| Swift Code | BNORPHMM |
| Type | Full-service Universal bank |
| Head Office | 7899 Makati Avenue Makati City 0726, Philippines |
| Total Assets | ₱3.19 trillion $66.42 billion (Increase12%) (2019) |
| Website | https://www.bdo.com.ph/ |
| Hotline | Metro Manila: (+632) 8631-800 |
What is BDO Unibank?
Banco de Oro Universal Bank (English name: Banco de Oro Universal Bank, abbreviated as BDO) is is the largest bank in the Philippines, fifteenth largest in Southeast Asia, 116th largest in Asia, and the 234th largest bank globally
Established and officially put into operation on January 2, 1968, with more than 50 years of enduring operation, BDO has outperformed to become one of the largest capitalization companies in the stock market. contract in Philippines.
According to statistics from 2019, the total assets of the bank are about ₱3.19 trillion $66.42 billion, in the list of 3 banks with the largest total assets in Philippines.
BDO bank history
BDO Unibank was established on January 2, 1968, as Acme Savings Bank, a thrift bank with just two branches in Metro Manila.
In November 1976, Acme was acquired by the SM Group, the group of companies owned by retail magnate Henry Sy, and renamed Banco de Oro Savings and Mortgage Bank.
In December 1994, BDO became a commercial bank and was renamed Banco de Oro Commercial Bank.
In September 1996, BDO became a universal bank, which led to the bank’s name being changed to the current Banco de Oro Universal Bank (BDO Unibank). It is one of the many banks owned by a Chinese-Filipino in the Philippines (others include Metrobank and Chinabank).
BDO Unibank eventually became involved in insurance services in 1997 (it is a bancassurance firm) by establishing a subsidiary called BDO Insurance Brokers.
In 1999, BDO Unibank expanded its insurance services through partnerships with Zamora Assurance and Assicurazoni Generali s.p.a. (Generali), one of the world’s largest insurance firms, and Jerneh Asia Berhad, a member of Malaysia’s Kuok Group. Later, BDO Unibank partnered up with its insurance affiliates, which are Generali Pilipinas Life Assurance Company and Generali Pilipinas Insurance Company, in March 2000.
The new BDO Unibank retained the ticker symbol of the old Banco de Oro. 1.3 billion BDO shares was issued in exchange for 727 million Equitable PCI Bank shares, which was de-listed on June 4, 2007.
The current bank is the product of the Banco de Oro–Equitable PCI Bank merger after the boards of both Banco de Oro Universal Bank and Equitable PCI Bank agreed to merge on December 27, 2006. For a while, the entity was known as Banco de Oro-EPCI, Inc., but announced that it would go by the name Banco de Oro Unibank, Inc. starting February 2007.
Finally in 2010 Banco de Oro changed its name to BDO Unibank, Inc. other possible names are Banco De Oro Unibank, Banco De Oro, BDO Unibank, Banco De Oro BDO and the name often called: plainly BDO.
As of 2020, BDO has the largest distribution network with over 1,400 operating branches and more than 4,400 ATMs nationwide. It is also currently the country’s largest bank in terms of consolidated resources, customer loans, deposits, assets under management and capital, as well as branch and ATM network nationwide.
(source: Wikipedia – BDO Unibank)
See also: BDO Exchange Rate – BDO Forex Today (update 02.2021)
The organizational structure of BDO
With more than 50 years of experience in operation, BDO has strongly developed with more than 1,434 branches , member units at home and abroad with nearly 38,510 employees.
In addition, BDO has also developed an Autobank system with more than 4,466 ATMs nationwide.
Is BDO Bank reputable?
Possessing an extremely large number of individual customers and following the growth of each month, quarter and year, it is no coincidence that BDO becomes the largest bank in Philippines.
So is BDO bank really good and reputable? The following evidence will surely answer the questions in your heart.
BDO Unibank, Inc. is the most awarded bank in the Philippines. Over the years, award-giving bodies and financial organizations in the Philippines, Asia, Europe, and other regions have recognized our efforts to find ways for our clients, the industry, and our community.
They are proud to be a consistent winner in domestic and international banking awards in the last two decades, continuously earning awards in categories like private banking, investment banking, asset and fund management, cash management, private wealth management, and bonds and equities. We have also been recognized for our environment, social, and governance initiatives.
Among our most recent banking awards in 2018 are:
● “2018 Best Bank in the Philippines” by Finance Asia and Alpha Southeast Asia
● “2018 Best Domestic Bank” by Euromoney’s Asiamoney Best Bank Awards
● “2018 Strongest Bank in the Philippines” by The Asian Banker Strongest Banks by Balance Sheet
● “2018 Best Domestic Bank” by The Asset Triple A Country Awards
● “Platinum Award” by The Asset Corporate Awards
Below is a partial list of BDO’s awards and accolades since the early 2000s to the present.
Alpha Southeast Asia
Asiamoney
Asian Banking & Finance
Asian Investor
Corporate Governance Asia
Enterprise Asia (AREA)
Euromoney
FinanceAsia
Forbes
Global Finance
Institutional Investor
IJ Global
Reader’s Digest
The Asian Banker
The Asset
World Finance
Yazhou Zhoukan
Not only maintaining its position in Philippines, BDO is also gradually raising its name in the region and in the world.
(source: https://www.bdo.com.ph/about-bdo/awards-and-citations)
BDO banking and financial services
BDO is a full-service universal bank that provides a complete array of industry leading products and services to the retail and corporate markets including:
- Lending (corporate, middle market, SME, and consumer)
- Deposit-taking
- Foreign Exchange, Brokering
- Trust and Investments
- Credit Cards
- Corporate Cash Management and Remittances.
Through its subsidiaries, the Bank offers Leasing and Financing, Investment Banking, Private Banking, Bancassurance, Insurance Brokerage and Stock Brokerage services.
See also: BDO Online Banking – How to Register & User Details 2021
BDO bank transfer fee
Send Money is easy and convenient with BDO Digital Banking
To any BDO account: You can send cash via a receiver’s BDO account number, email address, mobile number, or QR code linked to their BDO account
- Service Fee: FREE
- Daily Transaction Limit: PHP 50,000
- Minimum Transaction Amount: PHP 100
- Availability of Funds: Real-time Credit
To other local banks and wallets: Send money to other local banks and wallets
- Service Fee: PHP 25.00
- Daily Transaction Limit: PHP 50,000
- Minimum Transaction Amount: PHP 100
- Availability of Funds: Real-time Credit
Other Send Money Options
| *Transaction* | *Limit* | *Transaction Fee* | *Availability Funds* |
| *Send Money for Pick-up* Pick-up Anywhere at the following locations: • BDO Remit Counters in SM Malls • BDO Network Bank • PalawanPawnshop • RD Pawnshop • Villarica Pawnshop • Cebuana Lhuillier • M. Lhuillier Kwarta Padala REMINDER: Only Palawan Pawnshop is a BDO Cash Pick-up partner. Palawan Express Padala Outlet or Agent is different from Palawan Pawnshop and is NOT a BDO Cash Pick-up location | Daily Transaction Limit: PHP 50,000 (except for Cebuana Lhuillier: PHP 30,000) Minimum Transaction Amount: PHP 100 *Shared limit across remittance services and InstaPay | PHP 100 (except for MLKP and Cebuana – PHP 150) *Transaction fee will not be refunded if customer requests to cancel | Within 2-4 days due to GCQ |
| Send Money – Own BDO Account (USD to PHP) | Daily Transaction Limit: USD 5,000 | USD 1 | Real-time credit, Exchange rate will be the published rate in the BDO website (real-time conversion) |
| Send Money – Enrolled 3rd Party (Should be the same currency) | Daily Transaction Limits • PHP 1,000,000 • USD 20,000 • AUD 28,000 • CAD 28,000 • CNY 140,000 • EUR 18,000 • GBP 16,000 • HKD 160,000 • SGD 28,000 Minimum Transaction Amount: PHP 0.01 | FREE | Real-time credit |
| Wire Transfer (Source is USD account, destination can be any currency) [Available via Web Only] | No limits, up to available balance | Wire Transfer Fee: USD 10 Additional Charge if On Us: USD 25 | 3-5 days processing with 11AM cut-off until further notice due to GCQ |
Hopefully the above information has helped readers to understand more about what BDO is and what is the answer of existing questions. Wish you have a great service experience at BDO.
The article is from Fastloans.PH website: https://fastloans.ph/
Fastloans.PH - Financial advisory website & online loan product comparison in Philippines
Contact information
Address: 330 Sen. Gil J. Puyat Ave, Makati, 1200 Metro Manila, Philippines
Phone: +63282931254
Email: henrick.philippines@gmail.com
Website: https://fastloans.ph/
Follow Fastloans.PH on:
https://www.facebook.com/FastloansatPhilippines
https://www.instagram.com/fastloansph/
https://fastloanph.tumblr.com/
Comments
Post a Comment