Banco de Oro bags citation

The Henry Sy-led Banco de Oro Universal Bank (BDO) was cited in Asia Money Magazine’s 11th Annual Best Managed Companies Poll recently.

BDO was cited in two categories of the poll: the Philippines‚ best newly listed company and third best small company (with a market capitalization of $500 million). It was the only company that was cited as the best newly listed company in the Philippines for 2002.

The poll was conducted among 3,000 fund managers, chief investment officers, and heads of research of fund management firms, insurance companies, as well as brokerage houses in the Asia-Pacific region–including Australia, Japan, Europe, and North America.

According to the magazine, the winners in the poll demonstrated prudence and intelligence of strategy, operational efficiency and the ability to impress investors with a more than temporary hike in share price, despite a tough year for Asian companies.

Asia Money Magazine is one of the most influential financial magazines in Asia. It is the leading authority on finance, banking, investment, and treasury in the Asia-Pacific region and has been in existence for 13 years.

BDO has been rated by Fitch Ratings, an international rating organization. Fitch Ratings cites the bank’s strong capital position and investment in infrastructure.

It ended 2002 with P120 billion in resources compared to only P76 billion the previous year. With the completion of its capital raising activities, the bank’s capital is now at P14 billion compared to P11.2 billion in 2001.

It now has 125 branches nationwide after the recent opening of its Pasig Kapitolyo branch. The branch network will further increase to 180 after its recent acquisition of 1st e-Bank.