‘STRONGEST BANK’ IN PH – BDO is named by The Asian Banker as 2019’s Strongest Bank by Balance Sheet in the Philippines for the second straight year. BDO’s Walter Wassmer (2nd from left), senior executive vice president and head of institutional banking group, received the award from The Asian Banker’s (from left to right) Foo Boon Ping, managing director; Faith Masekesa, senior research; and Wilson Chia, international resource director on October 10 at the Shangri-La at the Fort.
By James A. Loyola
The Asian Banker has named BDO Unibank, Inc. as 2019’s Strongest Bank by Balance Sheet in the Philippines for the second straight year.
The Asian Banker Strongest Banks by Balance Sheet is “the most comprehensive annual evaluation that captures the quality and sustainability of the balance sheets of the banks in the Asia Pacific, Middle East, and Africa regions.”
Banks are rated on a scale of 0-5 and ranked based on the following performance indicators: scale, balance sheet growth, risk profile, profitability, asset quality, and liquidity.
The Asian Banker underscored BDO’s healthy balance sheet and profit as well as its low non-performing loan (NPL) ratio and high loan loss reserves to gross NPLs ratio.
BDO recently reported growth in earnings for the first nine months of 2019 to ₱32.1 billion from ₱21.5 billion in the same period last year.
The bank attributed its net income to the expansion of its recurring core revenues, complemented by the sustained increase in fee incomes and life insurance premiums.
While its nine-month net income brings it closer to its full-year earnings guidance of ₱38.5 billion, the bank remains steadfast in capitalizing on the country’s solid economic pace and growth opportunities in underserved and emerging markets, leveraging its focused growth strategy, strong business franchise, solid balance sheet, and extensive geographic reach.
The Asian Banker evaluates strength “based on a belief that a strong bank demonstrates long-term profitability from its core businesses.”
Through its yearly Strongest Banks by Balance Sheet, the Singapore-based publication provides financial intelligence by assessing banks and financial holding companies in emerging and mature markets with a substantial amount of activity in commercial banking.