MANILA, Philippines - Asia’s leading financial magazine FinanceAsia has once again named BDO Private Bank as the Philippines’ Best Private Bank in this year’s country awards.
BDO Private Bank, which won the said award for the third time, was cited for the strong growth it posted despite the global financial crisis. The regional publication said that the private bank has roughly 4,500 individual customers with an average portfolio of around P25 million which translates to a total of P114 billion ($2.45 billion) under management.
As recently as 2003, the bank had just P7 billion under management. At the start of 2009, that figure had grown 10-fold to P72 billion and rose another 50 percent in 2009 alone.
A fully owned subsidiary of Banco De Oro Unibank Inc., BDO Private Bank is the only domestic bank in the Philippines providing expert and professional private banking services. It is solely focused on giving comprehensive wealth management services to the country’s high net worth and modern affluent markets.