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Manila Bulletin devider Business devider The Economy devider BDO: Middle East tensions yet to hit remittance flows

BDO: Middle East tensions yet to hit remittance flows

Published Apr 24, 2026 10:50 am
Overseas Workers Welfare Administration (OWWA) Administrator Patricia Yvonne Caunan (left) and BDO Unibank Inc. Senior Vice President Genie Gloria formalize the renewal of their partnership during a memorandum of understanding signing in Manila on Thursday, April 23. The collaboration, which began in 2006, continues to focus on financial literacy and welfare programs for overseas Filipino workers despite geopolitical pressures in the Middle East. (Photo by Gabriell Christel Galang)
Overseas Workers Welfare Administration (OWWA) Administrator Patricia Yvonne Caunan (left) and BDO Unibank Inc. Senior Vice President Genie Gloria formalize the renewal of their partnership during a memorandum of understanding signing in Manila on Thursday, April 23. The collaboration, which began in 2006, continues to focus on financial literacy and welfare programs for overseas Filipino workers despite geopolitical pressures in the Middle East. (Photo by Gabriell Christel Galang)
BDO Unibank Inc., the country’s largest lender by assets, said geopolitical volatility in the Middle East has yet to dampen remittance flows, even as labor officials reported decline in repatriation requests following the recent ceasefire in the region.
In a briefing, Genie Gloria, BDO senior vice president and head of remittance, the lender has not observed any disruptions in fund transfers or a slowdown in volume despite the heightened tensions.
Gloria suggested that the resilience in figures may be attributed to overseas Filipino workers (OFWs) maintaining their employment status or tapping into existing savings to sustain their families back home.
“As of today, honestly, we have not felt it yet at BDO,” Gloria told reporters. “I guess most of our clients are still working, or maybe they have saved so much that whatever they are sending back here are their savings.”
The remarks come as BDO renewed its long-standing partnership with the Overseas Workers Welfare Administration (OWWA), a cooperation that dates back to 2006. While BDO has yet to release its latest formal data on remittance growth for the period, the bank’s sprawling network across Asia, the Middle East, North America, and Europe serves as a bellwether for the health of the nation’s dollar-earning diaspora.
The Philippine economy remains deeply dependent on these inflows to support domestic consumption. While the bank noted steady volumes, OWWA Administrator Patricia Yvonne Caunan confirmed that the demand for government-led repatriation has eased.
The agency has repatriated more than 6,000 workers and their dependents since the onset of the regional conflict, but that momentum shifted following a de-escalation in hostilities.
“With the ceasefire, we saw a drop in the request for repatriation,” Caunan said. “Based on the reports from our colleagues abroad, many still do not want to return to the Philippines.”
According to Caunan, the majority of Filipinos stationed in the Middle East prefer to remain in their current roles, prioritizing employment stability over the perceived risks of the regional environment.
Under the renewed Memorandum of Understanding, BDO will continue to spearhead financial literacy initiatives and Pre-Departure Orientation Seminars (PDOS). These programs are designed to educate departing workers on income management and the utilization of formal banking channels for fund transfers.
BDO enters 2026 on a footing of steady growth. As of the end of 2025, the bank’s total deposits grew by 10 percent, supported by a Current Account and Savings Account (CASA) ratio that improved to 68 percent.

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BDO Remittance fee OWWA OFW
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