ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

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 involves 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 2020 PHPUSD
Gross Profit----
Operating income46,668M940.87M
Income before tax46,030M928.01M
Net income28,246M569.47M
Diluted EPS6.360.12
Dividends Per Share1.200.02
Total Assets3,375.46B70,287.71M
Total liabilities2,982.44B62,103.78M
Total equity391,423M8,150.65M
Operating cash flow57,480M1,158.85M
Currency in PHPCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 123,169M 146,389M 177,026M 220,062M 212,241M
Gross Profit -- -- -- -- --
Operating income 33,743M 37,572M 42,518M 58,604M 46,668M
Income before tax 33,043M 37,557M 43,646M 59,187M 46,030M
Net income 26,234M 28,070M 32,708M 44,194M 28,246M
EBITDA -- -- -- -- --
Diluted EPS 6.50 6.42 7.40 10.01 6.36
Dividends Per Share 1.14 1.20 1.20 1.20 1.20
Total Assets 2,326.43B 2,668.83B 3,022.94B 3,189.54B 3,375.46B
Total liabilities 2,108.87B 2,370.49B 2,694.79B 2,818.96B 2,982.44B
Total equity 216,816M 297,488M 327,372M 368,932M 391,423M
Operating cash flow 46,181M 41,947M 57,229M 70,734M 57,480M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 2,593.71M 2,903.70M 3,360.22M 4,249.91M 4,279.00M
Gross Profit -- -- -- -- --
Operating income 710.56M 745.25M 807.05M 1,131.78M 940.87M
Income before tax 695.82M 744.96M 828.46M 1,143.03M 928.01M
Net income 552.44M 556.78M 620.84M 853.48M 569.47M
EBITDA -- -- -- -- --
Diluted EPS 0.13 0.12 0.14 0.19 0.12
Dividends Per Share 0.02 0.02 0.02 0.02 0.02
Total Assets 46,797.68M 53,462.14M 57,486.73M 62,978.51M 70,287.71M
Total liabilities 42,421.34M 47,485.77M 51,246.38M 55,661.17M 62,103.78M
Total equity 4,361.39M 5,959.29M 6,225.57M 7,284.66M 8,150.65M
Operating cash flow 972.48M 832.04M 1,086.29M 1,366.03M 1,158.85M

Valuation Measures

Dec 2020
Operating margin21.98%
Profit margin13.30%

Key executives

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


  • SM Investments Corp. (47.4%)
  • Sybase Equity Investment Corp. (5.4%)
  • SM Prime Holdings, Inc. (2.0%)
  • The Vanguard Group, Inc. (1.3%)
  • First Sentier Investors (Hong Kong) Ltd. (1.0%)
  • BlackRock Fund Advisors (0.9%)
  • Invesco Advisers, Inc. (0.7%)
  • BAMCO, Inc. (0.6%)
  • DFC Holdings, Inc. (0.6%)
  • Dacon Corp. (0.5%)

Contact Details

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

Related Companies

  • BDO Unibank, Inc. (Singapore Branch)
  • Bdo Life Assurance Co., Inc.
  • Bdo Saudi Arabia, Dr. Mohamed Al-Amri & Co.
  • Banco de Oro - Trust Banking Group
  • Bdo Nigeria Ltd.
  • BDO Unibank, Inc. (United Arab Emirates)
  • BDO Unibank, Inc. (Hongkong Branch)
  • BDO Assurance Holdings Corp.
  • Real Bank (A Thrift Bank), Inc. /Banking Business/
  • Banco De Oro Savings Bank, Inc.
  • Deutsche Bank AG /Philippines/ /Trust Business/
  • BDORO Europe Ltd.
  • Express Padala (Hong Kong) Ltd.
  • BDO Remit (Macau) Ltd.
  • BDO Belgium GIE
  • BDO Israel
  • BDO Strategic Holdings, Inc.
  • BDO Unibank, Inc.
  • BDO Remittance (USA), Inc.
  • BDO Remittance (Italia) SpA
  • BDO Remittance Ltd.
  • BDO Singapore
  • Rural Bank of San Juan, Inc.
  • One Network Bank, Inc.
  • Jardine Equitable Finance Corp.
  • EBC Strategic Holdings Corp.
  • BDO Private Bank, Inc.
  • PCIB Properties, Inc.
  • BDO Elite Savings Bank, Inc.
  • BDO Bulgaria Ltd.


  • Security Bank Corp. (Philippines)
  • National Bank of Greece S.A.
  • First Financial Holding Co. Ltd.
  • Metropolitan Bank & Trust Co.
  • Hachijuni Bank, Ltd.
  • Turkiye Halk Bankasi Anonim Sirketi
  • China Banking Corp.
  • Philippine National Bank
  • Rizal Commercial Banking Corporation
  • Bank of the Philippine Islands
  • China Cinda Asset Management Co., Ltd. Class H
  • Union Bank of the Philippines
  • Zions Bancorporation, N.A.
  • OTP Bank Nyrt
  • LBC Express Holdings, Inc.
Last Updated on 6 Dec, 2021

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more