Banco de Oro Universal Bank

Type	Public (PSE: BDO)
Founded	Manila, Philippines (1968)
Headquarters	Mandaluyong City, Philippines
Key people	Teresita T. Sy, Chairwoman Nestor V. Tan, President and CEO
Industry	Finance and Insurance
Products	Financial Services
Net income	P2.54 billion PHP ( 29%) (2005) [1]
Employees	4,048
Website	www.bdo.com.ph

Banco de Oro Universal Bank (PSE: BDO), commonly known as Banco de Oro, BDO, or sometimes BDO Unibank, is one of the largest banks in the Philippines, ranking fifth in terms of assets. It is owned by the SM Group of Companies, one of the country's largest conglomerates and owner of the SM chain of malls. Banco de Oro is the Philippine's sixth biggest bank in assets with 212.3 billion pesos and the eighth biggest in capital with 18.8 billion pesos. Image File history File links The new logo of Banco de Oro Universal Bank (BDO) from a BDO pamphlet. ... A public company is a company owned by the public rather than by a relatively few individuals. ... The PSE Tektite buildings in Ortigas Center, Pasig City. ... The City of Manila (Filipino: Lungsod ng Maynila), or simply Manila, is the capital of the Philippines. ... 1968 (MCMLXVIII) was a leap year starting on Monday (the link is to a full 1968 calendar). ... The City of Mandaluyong (Filipino: Lungsod ng Mandaluyong) is one of the cities and municipalities that comprise Metro Manila in the Philippines. ... Finance and Insurance is an industry group that mainly handles the transfer of paper and money, financial assets. These include: Accounting, Asset Management, Electronic Communications Networks, Financial Services Regulatory Agencies, Investment Banking Investment Firms, Investment Funds, Lending, Outsourced Financial Products & Services Marketing, Securities Brokers & Traders, Stock Exchanges, Trade Facilitation, and... This article is in need of improvement. ... Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. ... The Philippine peso (Filipino: piso) is the official currency of the Philippines. ... Image File history File links Green_Arrow_Up. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... Employment is a contract between two parties, one being the employer and the other being the employee. ... Website - Wikipedia, the free encyclopedia /**/ @import /skins-1. ... The PSE Tektite buildings in Ortigas Center, Pasig City. ... the SM Prime Logo SM Prime Holdings, Inc. ... The Philippine peso (Filipino: piso) is the official currency of the Philippines. ...

History

Banco de Oro had its humble beginnings on January 2, 1968, when it started off as a thrift bank called Acme Savings Bank. With two branches in Metro Manila, Acme was one of the smallest banks in the Philippines at the time. January 2 is the second day of the year in the Gregorian calendar. ... 1968 (MCMLXVIII) was a leap year starting on Monday (the link is to a full 1968 calendar). ... For the article on the capital city of the Philippines, click Manila. ...

In November of 1976, Acme was acquired by the Sy Group, the group of companies currently owned by retail magnate Henry Sy, and renamed Banco de Oro Savings and Mortgage Bank. 1976 (MCMLXXVI) was a leap year starting on Thursday. ... To meet Wikipedias quality standards, this article or section may require cleanup. ...

In December of 1994, BDO became a commercial bank. To reflect the bank's new status, BDO was renamed Banco de Oro Commercial Bank, and in September of 1996, BDO became a universal bank, which led to the bank's name being changed to the current Banco de Oro Universal Bank. It is one of the many banks owned by a Chinese-Filipino in the Philippines (others include Metrobank and Chinabank). 1994 (MCMXCIV) was a common year starting on Saturday of the Gregorian calendar, and was designated as the International Year of the Family and the International Year of the Sport and the Olympic Ideal by United Nations. ... 1996 (MCMXCVI) was a leap year starting on Monday of the Gregorian calendar, and was designated the International Year for the Eradication of Poverty. ... The Metropolitan Bank and Trust Company (PSE: MBT), commonly known as Metrobank, is the largest bank in the Philippines in terms of assets and is also the largest Philippine bank in terms of overseas presence. ... Chinabank or China Bank (PSE: CHIB), formally known as China Banking Corporation, is one of the largest banks in the Philippines, ranking eleventh in terms of assets. ...

BDO eventually became involved in insurance services in 1997 (it is a bancassurance firm) by establishing a subsidiary called BDO Insurance Brokers. In 1999, BDO expanded its insurance services through partnerships with Assicurazoni Generali s.p.a., one of the world's largest insurance firms, and Jerneh Asia Berhad, a member of Malaysia's Kuok Group. Later, BDO partnered up with its insurance affiliates, which are Generali Pilipinas Life Assurance Company and Generali Pilipinas Insurance Company, in March of 2000. 1997 (MCMXCVII) was a common year starting on Wednesday of the Gregorian calendar. ... Bancassurance is the term used to describe the sale of insurance products in a bank. ... 1999 (MCMXCIX) was a common year starting on Friday, and was designated the International Year of Older Persons by the United Nations. ... This article is about the year 2000. ...

On June 15, 2001, BDO merged with Dao Heng Bank's Philippine subsidiary, with BDO as the surviving entity. The merger boosted the number of BDO's branches from 108 branches before the merger to 120 after the merger. In late April 2005, United Overseas Bank sold 66 out of its Philippine subsidiary's 67 branches to BDO after UOB's Philippine subsidiary is set to rationalize its operations from retail to wholesale banking. All UOB branches completed integration into the BDO network on March 22, 2006, increasing the number of Banco de Oro branches to 220. June 15 is the 166th day of the year in the Gregorian calendar (167th in leap years), with 199 days remaining. ... 2001: A Space Odyssey. ... 2005 : January - February - March - April - May - June - July - August - September - October - November - December- → Deaths in April • 26: Augusto Roa Bastos • 24: Ezer Weizman • 23: Sir Joh Bjelke-Petersen • 23: John Mills • 16: Marla Ruzicka • 9: Andrea Dworkin • 6: Prince Rainier III • 5: Dale Messick • 5: Saul Bellow • 2: Pope John... United Overseas Bank Limited SGX: U11 (Simplified Chinese: 大华银行有限公司), abbreviated as UOB Bank (华行) is a bank incorporated in Singapore. ... March 22 is the 81st day of the year in the Gregorian Calendar (82nd in Leap years). ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...

On August 5, 2005, Banco de Oro and an SM subsidiary, SM Investments, bought 24.76% of the shares of Equitable PCI Bank, the Philippines' third-largest bank, and 10% of an Equitable PCI affiliate, Equitable CardNetwork, one of the Philippines' largest credit card issuers, from the family that founded the bank, the Go family. BDO has also been offered a further 10% by another Equitable PCI affiliate, EBC Investments, and a deal is being made to buy (awaiting court approval) the 29% stake of the Social Security System (SSS), the Philippines' pension fund. Subsequent acquisitions enabled the bank to acquire a 34% stake in Equitable PCI. August 5 is the 217th day of the year in the Gregorian Calendar (218th in leap years), with 148 days remaining. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... the SM Prime Logo SM Prime Holdings, Inc. ... Equitable PCI Bank (PSE: EPCI) is one of the largest banks in the Philippines, being the third-largest bank in terms of assets. ... Credit cards A credit card system is a type of retail transaction settlement and credit system, named after the small plastic card issued to users of the system. ... The examples and perspective in this article or section may not represent a worldwide view. ...

On December 1, 2005, Banco de Oro shares were listed as a component of the PSE Composite Index for the first time. December 1 is the 335th (in leap years the 336th) day of the year in the Gregorian calendar. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... The PSE Composite Index, commonly known as the PHISIX, is the main stock market index of the Philippine Stock Exchange. ...

On January 6, 2006, Banco de Oro, with the SM Group of Companies, submitted to Equitable PCI a merger offer with Banco de Oro as the surviving entity. Under the proposal, Banco de Oro will swap 1.6 of its shares for every 1 Equitable PCI share. As a second option, Banco de Oro also offered to base the swap ratio on the book values of both banks to be assessed by an independent accounting firm using International Accounting Standards (IAS). To effect the merger, Banco de Oro needs consent of Equitable PCI shareholders representing 67 % of Equitable PCI. These include the Social Security System (SSS) with 29 %, the Government Service Insurance System (GSIS) with 14 %, and the family of Equitable PCI chairman Ferdinand Martin Romualdez with eight percent. Banco de Oro said that the proposed "merger of equals" would create the country's second biggest bank with assets of about P500 billion, just next to Metrobank, the current banking industry leader in the Philippines. Bank of the Philippine Islands is the current second biggest bank in the Philippines. Banco de Oro has asked Equitable PCI to study their offer until January 31, 2006. January 6 is the 6th day of the year in the Gregorian calendar. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... International Financial Reporting Standards (IFRS), often known by the older name of International Accounting Standards (IAS) are a set of accounting standards. ... Bank of the Philippine Islands or BPI (PSE: BPI) is the oldest bank in the Philippines still in operation and is the second-largest bank in the country in terms of assets, second only to Metrobank. ...

Banco de Oro president Nestor Tan also expressed of a possibility of a three-way merger with Chinabank, also a SM Group-controlled bank. The bank president also said that the proposed Banco de Oro-Equitable PCI merger would consolidate the strengths of Banco de Oro and Equitable PCI in consumer lending and result in a dominant player in middle-market lending and a market leader in money remittance volumes, branch banking, trust and corporate banking with the combined network of 685 branches located in the Philippines and abroad.

Although Romualdez and the GSIS have shown stiff opposition to the BDO-Equitable PCI merger, the SSS is still studying the possibility of a merger. In fact, UBS studied the deal and claims that the merger through the stock swap option is a "win-win" situation. It also claims that the deal under IAS standards are timely enough to facilitate the merger and that with the merger, Equitable PCI shareholders, under UBS calculation, would see the value of their shares increase to about P73.60 per share, more than the fair value target price of 67 pesos UBS can refer to: UBS AG, a banking group Unbundled Bitstream Services United Building Society - the name of several financial institutions in different countries around the world. ...

The old logo of Banco de Oro

Image File history File links Logo of Banco de Oro Universal Bank from a BDO bankbook. ... Image File history File links Logo of Banco de Oro Universal Bank from a BDO bankbook. ...

Subsidiaries and Affiliates

BDO is divided into the following subsidiaries and affiliates:

• BDO Capital & Investment Corporation
• BDO Financial Services
• BDO Insurance Brokers
• BDO Card Corporation
• BDO Realty Corporation
• BDO Private Bank
• BDO Securities Corporation
• Generali Pilipinas Holding Company
• SM Keppel Land

Ownership

• PCD Nominee Corporation: 40.09% (35.64% foreign, 4.45% Filipino)
• SM Investments Corporation: 27.41%
• Primebridge Holdings: 22.08%
• SM Development Corporation: 4.04%
• Shoemart: 3.57%
• Public stock: 2.45%

the SM Prime Logo SM Prime Holdings, Inc. ... the SM Prime Logo SM Prime Holdings, Inc. ...

Competition

BDO's main competitors are major Philippine banks like Metrobank, BPI, Equitable PCI Bank, Land Bank of the Philippines, and Philippine National Bank. The Metropolitan Bank and Trust Company (PSE: MBT), commonly known as Metrobank, is the largest bank in the Philippines in terms of assets and is also the largest Philippine bank in terms of overseas presence. ... Bank of the Philippine Islands or BPI (PSE: BPI) is the oldest bank in the Philippines still in operation and is the second-largest bank in the country in terms of assets, second only to Metrobank. ... Equitable PCI Bank (PSE: EPCI) is one of the largest banks in the Philippines, being the third-largest bank in terms of assets. ... Land Bank of The Philippines, also known as LBP, is a government owned bank focused on the rural markets. ... for more information, please see http://www. ...

See also

• Banco de Oro-Equitable PCI Bank merger
• Expressnet (the BDO ATM network)
• List of Philippine companies
• SM Group of Companies

The Banco de Oro-Equitable PCI Bank merger is a plan by the SM Group of Companies and Banco de Oro Universal Bank, the sixth-largest bank in the Philippines, to merge with (although it is considered by some as an acquisition or even as a hostile takeover) Equitable PCI... Expressnet is an interbank network connecting the ATM networks of seven major banks in the Philippines. ... This is a partial list of companies based in the Philippines. ... the SM Prime Logo SM Prime Holdings, Inc. ...

External links

• Banco de Oro
• Philippine Stock Market Authority Finance Manila
• Philippine Stock Market Forum of Finance Manila