Basic Bank
InformationBDO Unibank, Inc. is the largest commercial bank in the Philippines, known for its extensive service network and diversified financial products. It is not a state-owned bank, nor is it a joint venture bank, but a private commercial bank controlled by SM Group, a well-known Philippine conglomerate. As an established financial institution, BDO dominates the Philippine financial market, offering a full range of services from retail banking to investment banking, and is trusted by both individual and corporate clients.
Founded in 1967 and headquartered in Makati City, Manila, Philippines, the commercial and financial center of the Philippines, Banco de Oro Unibank, Inc. (BDO) is the commercial and financial center of the Philippines. With a history dating back to its predecessor, Acme Savings Bank, BDO has undergone numerous mergers and acquisitions and expansions, notably with Equitable PCI Bank in the 2000s, which catapulted it to a leading position in the Philippine banking industry. BDO is a public company listed on the Philippine Stock Exchange under the ticker symbol "BDO", and its major shareholders include PCD Nominee Corporation, which holds approximately 40.09% of the shares (of which 35.64% are foreign investors and 4.45% are Philippine investors). As part of SM Group, BDO is backed by this diversified group, which has a strong presence in retail, real estate and shopping center operations.
BDO's services span the entire Philippines, with more than 1,700 outlets and more than 5,800 ATMs by the end of 2024 in both urban and remote areas, ensuring easy access to banking services. In the international market, BDO has 16 offices in Asia, Europe, North America and the Middle East, including full-service branches in Hong Kong and Singapore. This global presence gives it a significant advantage in serving overseas Filipinos (OFWs) and international corporate clients. BDO's services span a wide range of sectors, including retail banking, corporate banking, investment banking, private banking, insurance brokerage, lease financing and remittances, to meet a wide range of needs, from personal savings to complex corporate financing.
In terms of supervision, BDO is strictly regulated by the Bangko Sentral ng Pilipinas (BSP) and has joined the Philippine Deposit Insurance Corporation (PDIC) deposit insurance program to provide security for customer deposits. BDO adheres to the Data Privacy Act of 2012 (Republic Act No. 10173) and anti-money laundering regulations of the Philippines and maintains high standards of compliance through its Code of Conduct and Business Ethics policy. Recently, BDO has not experienced significant compliance issues, demonstrating its solid performance in governance and risk management.
financial health
BDO Unibank is in a strong financial position, reflecting its leading position in the Philippine banking sector. Based on 2024 data, BDO's capital adequacy ratio is 15.2% (14.9% for parent banks), which is well above the minimum requirements of international and Philippine regulators, indicating that it has sufficient capital buffers to cover potential risks. The non-performing loan ratio (NPL) ratio of 1.83% (1.78% for the parent bank) is at a low level in the industry, indicating that its asset quality is good and credit risk management is effective. In addition, BDO's liquidity coverage ratio is 132.1% (134.1% for the parent bank), indicating that it has sufficient high-quality liquid assets to easily meet short-term funding needs. Together, these indicators demonstrate BDO's financial soundness and resilience, making it a trustworthy financial institution.
deposit and loan products
BDO offers a wide range of deposit products to meet the needs of different customers. Demand deposit accounts are suitable for day-to-day transactions and offer flexible access to funds, while fixed deposits offer higher interest rates for customers looking for stable returns. For example, the interest rate of Peso Time Deposit varies depending on the deposit amount and term, with accounts with deposits of 1 million pesos and above with a maturity of 180 to 360 days receive an annual interest rate of 0.375% to 0.500%. BDO also offers high-yield savings accounts, such as Optimum Savings, with interest rates graded based on the amount deposited, with an initial deposit and a minimum average daily balance requirement of P30,000. In addition, BDO offers US dollar fixed deposits, which are suitable for customers who wish to save in foreign currency, subject to the bank's specific interest rate.
When it comes to loans, BDO offers a variety of options such as home loans, car loans, and personal lines of credit. The effective interest rate for a personal loan is usually between 25.98% and 26.76%, depending on the loan term (6 to 36 months). BDO Kabayan loans for overseas Filipinos are available in both secured and unsecured versions, with unsecured loans having an effective interest rate of up to 40.05% per annum, while secured loans are as low as 17.08%. Mortgage products offer fixed-rate terms ranging from 1 to 5 years, while car loans attract customers with low interest rates and promotions such as no first-year premiums. BDO's loan products support Automatic Debit Arrangement (ADA) and online balance enquiry to help customers manage their repayments.
a list of common expenses
BDO's fee structure is more transparent, but there are some potential costs that clients need to be aware of. The account management fee includes the account closure fee (300 pesos if the account is closed within 30 days of account opening), the minimum balance deficit fee (300 pesos for two consecutive months below the minimum average daily balance) and the dormant account fee (30 pesos per month if the account is below the minimum balance after 2 years of inactivity). In terms of transfer fees, transfers between BDO accounts are free of charge, with transfers to other banks via InstaPay charging 10 pesos, PESONet transfers charging 50 pesos, and cross-border wire transfers costing $10 (plus an additional $25 for internal transactions). ATM inter-bank withdrawal and overdraft fees are subject to the latest announcement on the bank's official website. Clients should pay special attention to minimum balance requirements and excess transaction fees (e.g. 110 pesos for more than 3 client-initiated transactions per month) to avoid additional costs.
digital service experience
BDO's digital services are centered around the BDO Online app and website, designed to provide customers with a convenient banking experience. However, the BDO Online app has a rating of 2.1 stars on the App Store (based on about 67,000 reviews), with user feedback pointing to login errors, credential issues, and failed transfers, indicating that there is room for improvement in its digital services. Core features include real-time transfers (support for free transfers between BDO accounts and interbank transfers), bill management (no registration required to pay bills), and integration of investment tools such as stock trading. BDO's mobile banking supports biometric logins (facial recognition and fingerprint) as well as 6-digit PIN code logins for enhanced security. However, there is less information about the specific application of AI customer service or robo-advisors, which needs to be further confirmed.
the quality of customer service
BDO offers a variety of customer service channels, including 24/7 phone support (hotline +632 8888-0000), live chat, and social media responses, and customers can get help through the contact page on the official website. However, according to user feedback, BDO has low customer service satisfaction, with an average rating of 1.7 stars, and common complaints include slow response times, account management issues, and inefficient problem resolution. As a bank serving international customers, BDO provides support in English and Filipino, but support in other languages (such as Chinese or Spanish) needs to be further confirmed and may be limited for cross-border users.
security measures
BDO takes funding and data security very seriously. Deposits are insured by PDIC with a maximum coverage of PHP1 million per depositor, covering most retail customers. BDO's mobile banking app is PCI-DSS certified, uses two-factor authentication (device registration and one-time password) and real-time transaction monitoring to ensure secure transactions. Customers can also lock or unlock their debit cards through the app for enhanced fraud protection. In terms of data security, BDO complies with the Data Privacy Act 2012 and implements physical, organizational and technical measures to protect customer information, and has not reported any major data breaches recently.
featured services and differentiation
BDO excels in terms of segmentation and specialty services. Designed for overseas Filipinos, the BDO Kabayan account offers free personal and accident insurance and fast money transfer services, making it popular with OFWs. The Junior Savers account is designed for children ages 0 to 12 and helps them build a savings habit. BDO is also actively promoting green finance, financing 54 renewable energy projects with a total installed capacity of 2,230 MW in 2021 to support the Philippines' transition to a low-carbon economy. High-net-worth clients can enjoy BDO's private banking services, including customized portfolio and wealth management solutions, which have been voted "Best Private Bank in the Philippines" by The Asset for 12 consecutive years (2010-2021).
market position and
honors BDO Unibank is the largest bank in the Philippines, leading the industry in terms of total assets, deposits, loans, assets under management, and capital, and ranked 15th among Southeast Asian banks as of March 2016. BDO has received multiple industry recognitions, including Asiamoney's "Best Bank in the Philippines", The Asset's "Best Treasury & Working Capital Service Provider", and "Asia's Top Sustainability Advocate" at the ACES Awards (2022). In addition, BDO was recognized by BSP as "the largest commercial bank generating remittances from overseas Filipinos" by BSP in 2008-2010 and 2013-2017, highlighting its leading position in remittance services.
