The corporate history of BDO Unibank, the largest bank in the Philippines, tracing its founding by Henry Sy in 1968, key mergers and acquisitions, technological innovations, and milestones in financial performance and market standing on the Philippine Stock Exchange.
Founded as a small savings bank, Equitable Banking Corporation grew to become a major commercial bank. It later merged with PCIB in 1996 to form Equitable PCI Bank, a precursor to BDO Unibank. #history #philippines
PCIB was established and later became the Philippine Commercial International Bank. It merged with Equitable Banking in 1996 to form Equitable PCI Bank, a key predecessor of BDO Unibank. #history #philippines
Henry Sy, founder of SM Group, establishes Banco de Oro Savings and Mortgage Bank with a small capital. It initially focused on savings and mortgage services, laying the foundation for BDO Unibank. #founding #philippines
Banco de Oro receives a commercial banking license from the Bangko Sentral ng Pilipinas, allowing it to expand its services beyond savings and mortgages. This marked a key milestone in its growth. #banking #philippines
Equitable Banking Corporation merges with Philippine Commercial International Bank to form Equitable PCI Bank, one of the largest banks in the Philippines at the time. This set the stage for a later merger with BDO. #mergers #philippines
Banco de Oro lists on the Philippine Stock Exchange via an initial public offering, raising capital to fund expansion. The IPO was well-received, marking the bank's transition to a publicly traded company. #finance #IPO
BDO initiates discussions with Equitable PCI Bank about a potential merger, aiming to create a larger, more competitive banking institution. The talks culminate in a landmark deal the following year. #mergers #philippines
BDO and Equitable PCI Bank formally announce a merger agreement, with BDO as the surviving entity. The deal is valued at PHP 8.1 billion and creates the largest bank in the Philippines by assets. #mergers #finance
The merger between Banco de Oro and Equitable PCI Bank is completed, forming BDO Unibank, Inc. The combined entity becomes the largest bank in the Philippines with over 600 branches. #mergers #philippines
BDO Unibank introduces online banking services, allowing customers to manage accounts, transfer funds, and pay bills via the internet. This enhanced digital convenience for a growing customer base. #digital #banking
BDO acquires Philippine Savings Bank (PSB), a thrift bank with a strong network in the Visayas and Mindanao. This acquisition expands BDO's reach in regional markets. #acquisition #philippines
BDO Unibank moves its headquarters to the BDO Corporate Center in Makati City, a state-of-the-art building that consolidates operations and improves efficiency. #infrastructure #philippines
BDO acquires selected assets and liabilities of Export and Industry Bank (EIB) from the Philippine Deposit Insurance Corporation, strengthening its loan portfolio and branch network. #acquisition #finance
BDO establishes BDO Insurance Brokers, Inc. to offer non-life insurance products, diversifying its financial services and providing cross-selling opportunities. #expansion #insurance
BDO Unibank executes a 2-for-1 stock split to improve liquidity and make shares more affordable for retail investors on the Philippine Stock Exchange. #finance #stockmarket
BDO acquires One Network Bank, a rural bank with extensive operations in Mindanao, to strengthen its presence in underserved areas. This acquisition supports financial inclusion. #acquisition #ruralbanking
BDO introduces its first mobile banking application for iOS and Android, allowing customers to perform transactions on the go. The app quickly gains popularity, driving digital adoption. #digital #banking
BDO Unibank opens a representative office in Hong Kong to support trade finance and remittance services for overseas Filipino workers and corporate clients in the region. #international #expansion
BDO Unibank becomes the first Philippine bank to surpass PHP 1 trillion in total assets, cementing its position as the country's largest bank by asset size. #finance #milestone
BDO partners with Visa to expand its credit card offerings and debit card services, launching co-branded cards and promoting cashless transactions. #partnership #creditcards
BDO Unibank is officially recognized as the largest bank in the Philippines by total assets, surpassing competitors like Metrobank and BPI. #finance #ranking
BDO introduces contactless payment technology for its credit and debit cards, enabling faster, secure tap-and-go transactions at point-of-sale terminals. #technology #payments
BDO consolidates its wealth management arm by acquiring BDO Private Bank (formerly a separate entity), integrating high-net-worth services into the main bank. #acquisition #wealthmanagement
BDO Unibank opens a full-service branch in Singapore, its first overseas branch, serving OFWs and corporate clients in Southeast Asia. #international #expansion
BDO Unibank marks its 50th anniversary with a series of events and corporate social responsibility initiatives, reflecting on its growth from a small savings bank to a financial powerhouse. #anniversary #philippines
BDO expands its rural banking network by acquiring the Rural Bank of Bayawan, strengthening its presence in the Visayas. #acquisition #ruralbanking
Henry Sy, the founder of SM Group and BDO Unibank, dies at age 94. His legacy includes transforming BDO into the country's largest bank and pioneering retail and banking synergies. #obituary #philippines
BDO introduces BDO Pay, a digital wallet and payment app that integrates with the bank's accounts and allows QR code payments, part of its digital transformation strategy. #digital #payments
In response to COVID-19, BDO offers loan payment moratoriums and ramps up digital banking services, seeing a surge in online transactions. The bank also supports government relief programs. #covid19 #banking
BDO is listed on the Dow Jones Sustainability Index (DJSI) for emerging markets, recognizing its environmental, social, and governance (ESG) practices. #sustainability #ESG
BDO merges its rural banking subsidiaries into BDO Network Bank, a unified entity focused on countryside banking and financial inclusion. #mergers #ruralbanking
BDO's investment banking arm, BDO Capital & Investment Corporation, leads several landmark bond issuances and initial public offerings, strengthening its position in Philippine capital markets. #investmentbanking #finance
BDO's total assets exceed PHP 2 trillion, doubling in size since 2015, reflecting continued growth through organic expansion and acquisitions. #finance #milestone
BDO Unibank expands its branch network to 1,200 branches nationwide, making it one of the most geographically diverse banks in the Philippines. #expansion #banking
BDO Unibank announces stock dividends to reward shareholders, reflecting strong financial performance and capital position. #finance #dividends
Nestor Tan remains President and CEO, leading BDO's strategic direction including digital transformation and sustainable finance. #leadership #philippines
Bangko Sentral ng Pilipinas grants BDO a digital banking license, allowing it to operate a fully digital bank under the BDO Digital Bank brand. #digitalbanking #regulation
BDO Unibank issues its first green bond, raising PHP 15 billion to finance renewable energy and other sustainable projects, underlining its commitment to ESG. #finance #sustainability
BDO launches a dedicated remittance app for overseas Filipino workers, offering lower fees and real-time transfers from abroad. #remittances #digital
BDO announces a record net income of PHP 60 billion for the fiscal year, driven by strong lending growth and fee income, reinforcing its market leadership. #finance #earnings
BDO's full-fledged digital bank begins operations, offering a paperless, branchless banking experience with competitive interest rates and seamless online account opening. #digitalbanking #innovation