BDO wins Best Asian Bank award

MANILA, Philippines - BDO Unibank, Inc. (BDO) was named the Best Asian Bank for 2013 by FinanceAsia at its recently held Annual Country Awards in Singapore. The coveted award is a first for a Philippine bank. 

FinanceAsia, one of the region’s leading financial publishing companies based in Hong Kong, commended BDO’s strong performance, which included among others, profitability and loan-to-asset ratio. 

“It represents the first time FinanceAsia has given this award to a Philippine bank, reflecting the rise in fortunes of the country, notably its improved credit rating,” the publication stated in a report. 

Standard & Poor’s and Fitch upgraded the Philippines to investment grade earlier this year, and in July, Moody’s Investors Service put the country on positive watch, which according to market pundits, could signify a parallel move this year.