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BDO Unibank, Inc.

Company Background

BDO Unibank, the Philippines' largest bank by assets, is a unit SM Investments, the country's biggest conglomerate by market value. BDO is a full-service, universal bank offering an array of services, including corporate and retail banking, treasury, trust, credit cards, corporate cash management, and remittances. Through its subsidiaries, it also offers leasing, investment banking, private banking, bancassurance, insurance brokerage, and stock brokerage services.


The bank operates more than 850 branches and over 2,400 ATMs. BDO also has a branch in Hong Kong and 15 overseas remittance and representative offices in Asia, Europe, North America, and the Middle East.


Formerly known as Acme Savings Bank, which was acquired by the SM Group in 1976, BDO went public in 2002. The bank is chaired by Teresita Sy-Coson, the eldest daughter of SM Group founder Henry Sy. Its CEO, Nestor Tan, held several key positions with Bankers Trust in New York and Barclays in London before joining BDO in 1997.

Business Summary

BDO Unibank, Inc. engages in the provision of commercial banking services. It operates through the following segments: Commercial Banking, Investment Banking, Private Banking, Leasing and Financing, Insurance, and Others. The Commercial Banking segment handles the entire lending, trade financing, and cash management services for corporate and retail customers. The Investment Banking segment offers services to corporate clients outside the traditional loan and deposit products. The Private Banking segment delivers traditional and non-traditional investment and structured products to high-net-worth individuals and institutional accounts. The Leasing and Financing segment is involved in direct leases, sale and leaseback arrangements, and real estate leases. The Insurance segment includes insurance brokerage and life insurance business by providing protection, education, savings, retirement, and estate planning solutions to individual and corporate clients through life insurance products and services. The Others segment focuses on asset management, realty management, remittance, accounting service, credit card service, and computer service. The company was founded on August 16, 1967 and is headquartered in Makati, Philippines.

Financial Highlights

Dec 2021 PHPUSD
Gross Profit----
Operating income56,255M1,141.19M
Income before tax55,762M1,131.19M
Net income42,791M868.06M
Diluted EPS9.660.19
Dividends Per Share1.200.02
Total Assets3,624.38B71,076.82M
Total liabilities3,199.83B62,751.13M
Total equity422,934M8,294.04M
Operating cash flow72,711M1,475.02M
Currency in PHPCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 146,389M 177,026M 220,062M 212,241M 206,233M
Gross Profit -- -- -- -- --
Operating income 37,572M 42,518M 58,604M 46,668M 56,255M
Income before tax 37,557M 43,646M 59,187M 46,030M 55,762M
Net income 28,070M 32,708M 44,194M 28,246M 42,791M
EBITDA -- -- -- -- --
Diluted EPS 6.42 7.40 10.01 6.36 9.66
Dividends Per Share 1.20 1.20 1.20 1.20 1.20
Total Assets 2,668.83B 3,022.94B 3,189.54B 3,375.46B 3,624.38B
Total liabilities 2,370.49B 2,694.79B 2,818.96B 2,982.44B 3,199.83B
Total equity 297,488M 327,372M 368,932M 391,423M 422,934M
Operating cash flow 41,947M 57,229M 70,734M 57,480M 72,711M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 2,903.70M 3,360.22M 4,249.91M 4,279.00M 4,183.68M
Gross Profit -- -- -- -- --
Operating income 745.25M 807.05M 1,131.78M 940.87M 1,141.19M
Income before tax 744.96M 828.46M 1,143.03M 928.01M 1,131.19M
Net income 556.78M 620.84M 853.48M 569.47M 868.06M
EBITDA -- -- -- -- --
Diluted EPS 0.12 0.14 0.19 0.12 0.19
Dividends Per Share 0.02 0.02 0.02 0.02 0.02
Total Assets 53,462.14M 57,486.73M 62,978.51M 70,287.71M 71,076.82M
Total liabilities 47,485.77M 51,246.38M 55,661.17M 62,103.78M 62,751.13M
Total equity 5,959.29M 6,225.57M 7,284.66M 8,150.65M 8,294.04M
Operating cash flow 832.04M 1,086.29M 1,366.03M 1,158.85M 1,475.02M

Valuation Measures

Dec 2021
Operating margin27.27%
Profit margin20.74%

Key executives

  • President, Chief Executive Officer & Director: Nestor V. Tan
  • Senior EVP & Head-Central Operations Group: Joseph Albert Lim Gotuaco
  • Senior VP & Head-Information Technology Group: Frederic Mark Suaco Gomez
  • Chief Compliance Officer & Senior Vice President: Federico P. Tancongco
  • Senior Executive VP & Head-Branch Banking Group: Jaime C. Yu


  • SM Investments Corp. (47.8%)
  • Sybase Equity Investment Corp. (5.4%)
  • SM Prime Holdings, Inc. (2.0%)
  • The Vanguard Group, Inc. (1.4%)
  • First Sentier Investors (Hong Kong) Ltd. (1.1%)
  • BlackRock Fund Advisors (0.9%)
  • First Sentier Investors (UK) IM Ltd. (0.8%)
  • Invesco Advisers, Inc. (0.7%)
  • DFC Holdings, Inc. (0.6%)
  • BAMCO, Inc. (0.5%)

Contact Details

  • Website:
  • Address: BDO Corporate Center, 7899 Makati Avenue, Makati City, 0726, Philippines
  • Phone: +63.28.840.7000

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Last Updated on 4 Oct, 2022

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