The current bank is the product of the Banco de Oro–Equitable PCI Bank merger after the boards of both Banco de Oro Universal Bank and Equitable PCI Bank agreed to merge on December 27, 2006. 1.3 billion BDO shares was issued in exchange for 727 million Equitable PCI Bank shares, which was de-listed on June 4, 2007. The new BDO Unibank retained the ticker symbol of the old Banco de Oro. Later, BDO Unibank partnered up with its insurance affiliates, which are Generali Pilipinas Life Assurance Company and Generali Pilipinas Insurance Company, in March 2000.Īn ATM inside BDO Los Baños Branch. ( Generali), one of the world's largest insurance firms, and Jerneh Asia Berhad, a member of Malaysia's Kuok Group. In 1999, BDO Unibank expanded its insurance services through partnerships with Zamora Assurance and Assicurazoni Generali s.p.a. In September 1996, BDO became a universal bank, which led to the bank's name being changed to the current Banco de Oro Universal Bank (BDO Unibank).īDO Unibank eventually became involved in insurance services in 1997 (it is a bancassurance firm) by establishing a subsidiary called BDO Insurance Brokers. In December 1994, BDO became a commercial bank and was renamed Banco de Oro Commercial Bank. In November 1976, Acme was acquired by the SM Group, the group of companies owned by retail magnate Henry Sy, and renamed Banco de Oro Savings and Mortgage Bank. 4.10 BDO Network Bank (One Network Bank)īDO Unibank was established on January 2, 1968, as Acme Savings Bank, a thrift bank with just two branches in Metro Manila.2.2 Ownership after merging with Equitable PCI Bank.2.1 Before "merger of equals" with Equitable PCI Bank.BDO has the largest distribution network with over 1,300 operating branches and more than 4,000 ATMs nationwide. Through its subsidiaries, the Bank offers Leasing and Financing, Investment Banking, Private Banking, Bancassurance, Insurance brokerage and stockbrokerage services.
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It provides products and services to the retail and corporate markets including lending (corporate, middle market, SME, and consumer), deposit-taking, foreign exchange, brokering, trust and investments, credit cards, corporate cash management and remittances. The firm is a full-service universal bank. It is also the largest bank in the country by market capitalization. BDO Unibank is also a member of SM Group.
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In terms of total assets, the firm is the largest bank in the Philippines and 15th largest in Southeast Asia as of March 31, 2016. BDO Unibank, Inc., commonly known as Banco de Oro ( BDO), is a Philippine banking company based in Makati.