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Manila Bulletin devider Business devider Banking & Finance devider BDO opens Iloilo wealth banking unit

BDO opens Iloilo wealth banking unit

Published Dec 19, 2023 09:25 am

BDO Private Bank, the private banking subsidiary of BDO Unibank Inc., has opened a Wealth Center in IloIlo City last Dec. 6, marking its recognition of the fast rising affluent and ultra rich clients in Western Visayas.

In a statement, BDO Private Bank said it will offer wealth banking in the highly urbanized Mandurriao in Iloilo City to “support the financial and investment goals of the city’s High and Ultra High Net Worth residents.”

This is the bank’s ninth Wealth Center in the country and the third outside of Metro Manila. It is located within the SM City Iloilo Complex. BDO is part of the Sy-led SM Group of Companies.

“BDO Private Bank offers investment, financial, trust, and estate advisory services to high-net-worth individuals and corporate and institutional clients,” it said.

The private bank’s parent firm, BDO, is a full-service universal and commercial bank which provides a wide range of corporate and retail services such as traditional loan and deposit products, treasury, trust banking, investment banking, private banking, rural banking and microfinance, among others.

The country’s largest lender, BDO currently operates over 1,600 consolidated operating branches and more than 4,700 ATMs nationwide. It has subsidiaries in 16 offices in Asia, Europe, North America and the Middle East.

As of end-September, BDO posted a net income of P53.9 billion, up by 35 percent compared to same period last year of P40 billion.

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