BDO is 255th among world’s top banks

The SM Group’s banking arm, BDO Unibank, Inc., has climbed up the Top 1,000 World Banks’ ranking in 2015 by 13 slots to 255th spot from 268th last year, a statement from the bank yesterday said. The list is published by the UK-based The Banker magazine and which named two Chinese banks as top two banks in the world in terms of Tier 1 capital – ICBC and China Construction Bank – followed by US investment bank JP Morgan in third place. Bank of China and Bank of America rounded up the top fiive in the global banking market. In the Philippines, BDO remains the largest lender by all barometers, including assetsbase, deposits and loan portfolio. The world list showed BDO as the “undisputed leader” in sizing up Tier-1 capital and on “solid performance and robust earnings.” Similar with the big local banks, BDO’s profits has slowed in 2014, although still marking up an income of P22.8 billion versus P22.6 billion in 2013, and a 20 percent growth in loans. In the first six months this year (January to June) the Henry Sy-led bank posted a 6.2 percent net income increase to P11.74 billion. For the second quarter, it managed a 0.53 percent uptick to P5.61 billion compared to the previous year’s P5.58 billion as costs and expenses racked up during the quarter and eating into profits. By end-June, BDO reported loans were higher by 16 percent yearon-year, while deposits increased 17 percent. (LCC)