BDO advances ranking in list of world’s top banks

BDO Unibank (BDO) has advanced its standing in the list of the Top 1000 World Banks 2015, landing at 255 from previous year’s ranking of 268.

The same list, which was published in the July issue of the UK-based The Banker, also showed the Bank as the undisputed leader in the Philippines in terms of Tier-1 capital, assets, solid performance and robust earnings.

BDO in 2014 delivered a record net income of P22.8 billion driven by the strong expansion of its core businesses. Its capital base during the period stood at P180 billion, with both the capital adequacy ratio (CAR) and common equity Tier 1 (CET1) ratio all comfortably above the regulatory minimum under the Basel III framework at 14.6 percent and 12.4 percent, respectively.

The Top 1000 World Banks ranking has been setting the industry benchmark since the 70s, providing comprehensive intelligence about the health and wealth of the global banking sector. It allows investors and clients all over the world to evaluate the strength and weakness of the banks, identify banking partners for the future, and track the big movers and new arrivals in the sector.

The Banker is among the several international publications that consistently recognizes BDO’s strong performance in the local banking sector. So far this year, BDO has received Best Bank in the Philippines awards from Asiamoney, Alpha Southeast Asia, FinanceAsia and Euromoney.

Spending Tips for the Savvy Consumer

Spending is part and parcel of everyday life. Everywhere you go and everything you do would most likely entail making a dent in your wallet. Yes, the age old adage “The best things in life are free” still holds true but the fact is, spending is a necessity and properly managing your finances is a must.
Now, living frugally and curbing your spending doesn’t mean taking out the fun in life. You can still enjoy life’s little luxuries, give in to your indulgences and pamper yourself once in a while if you know how to spend your money wisely.

For those who find it hard to keep their spending in check, here are simple tips that you can follow to make you a smarter, savvier consumer.

Make a list. Yes, you’ve heard this a thousand times before but have you actually made one? Making a list is easy and not to mention highly effective. List down and review all your bills every month and organize your expenses by category. Track your spending and make sure that you are not spending more than you are earning. Setting aside money for savings is important and should be your top priority.

Set a budget. Same with making a list, you’ve been told time and time again to apportion your funds properly. Divide your funds accordingly and determine how much you can afford to spend. With a specific budget in mind, you’ll be able to plan your payments and purchases ahead of time and avoid spending on unnecessary things.

Expand your shopping options. In this day and age when anything and everything is available online, your options now extend to virtual stores. Whether you’re on the lookout for home appliances, electronics, clothes and other personal items or even if you’re finalizing your vacation plans, after scouting your options at the mall, check out the items you want to purchase online or vice versa. This way, you’re guaranteed to snag the best available deal.

Schedule your payments. When it comes to spending, timing is also crucial. Apart from allocating your monthly salary for your basic necessities, take into account your bonuses and other incentives. Schedule payments for insurance (for your home, car or life plan), tuition fee if you have kids, and other big ticket purchases when you have lump sum cash that you can spare.

Find a substitute. If the item that you’re intending to buy is too expensive then go for an alternative that fits your budget. But just make sure that your replacement item is of standard grade. The money that you’ll save won’t be worth it if you’ll only end up using the item for a short period of time. Keep in mind that it’s okay to pay a high (but still reasonable) price for good quality items.

The sales person is not your friend. No matter how affable and accommodating the sales person is, or how many compliments you’ve been told, remember that he/she is there to make a sale, so don’t be easily swayed. Listen and take note of his/her expert opinion but make up your mind about the purchase on your own.

Keep an eye on special offers and promos. Take advantage of discounts, freebies and rebates. Getting items at a lower cost, or with a complementary treat, is always a plus. And this is what practical spending is all about—being able to extend the value of your money.

For no fuss and hassle-free instant savings, the new American Express® Cashback Credit Card offers a unique cashback feature that is perfect for smart savvy spenders—automatic cash rebates for every purchase, whether local or overseas.

The ideal means to pay for your shopping needs, everyday expenses, and even big ticket purchases, the American Express Cashback Credit Card is not only convenient and easy to use, it also guarantees outright cashback with every spend.

BDO and Amex launch the American Express Cashback Credit Card

BDO and American Express formally announced the launch of the American Express Cashback Credit Card. In the Philippines, the Card will be issued exclusively by BDO with simple and straightforward features that provide Card members with cash rebates for every purchase, whether local or overseas.

“Being able to save on expenses is a priority of Filipino consumers,” says Ma. Nannette R. Regala, BDO Senior Vice President and Consumer Lending Group Marketing Head, “and this is precisely why we decided to make available in the market a credit card that provides outright cash rebates — with no minimum spend and no limit on the amount of cashback that Cardmembers can earn.”

For price-conscious consumers, the American Express Cashback Credit Card will prove to be the ideal card to pay for everyday expenses, as well as big ticket items. It is different from other cashback products in the market as its Cardmembers’ cashback rewards are automatically credited to their accounts, no matter how much the value of the purchase is.

American Express Cashback Credit Cardmembers will earn 1% cashback on all local purchases and 2% cashback on every overseas purchase. As an introductory offer, Cardmembers will enjoy a special 5% cashback rate for purchases made locally and overseas until August 31, 2015.

BDO key executives cited for corporate governance excellence

An indication that BDO Unibank’s corporate governance practices are among the best in the region was again reinforced in the recently held 5th Asian Excellence Award 2015 led by the Hong Kong-based publication Corporate Governance Asia.

The Bank was cited as one of the Philippine companies with the Best Investor Relations, Best Corporate Social Responsibility, Best Environmental Responsibility and Best Corporate Communications Team.

Individual awards were also given to Teresita Sy-Coson, Pedro M. Florescio III and Luis S. Reyes Jr., as among Asia’s Best CEOs, CFOs and Investor Relations Company Professionals, respectively. Sy-Coson is the chairperson of BDO; Florescio is head of treasury; and, Reyes is head of investor relations & corporate planning.

BDO has been a consistent recipient of the Asian Excellence Awards, which annually recognize the achievements and excellence in management acumen, financial performance, corporate social responsibility, environmental practices, investor relations and communications of the publicly-listed firms, privately-owned entities, state-owned and government-controlled enterprises in Asia.

These awards are in the tradition of the high standards set and uphold by Corporate Governance Asia, the authoritative voice in corporate governance practices in the region. These are meant to motivate excellence among the different layers in corporate hierarchy especially since Asia continues to gain further recognition in the global arena as a preferred investment destination for its robust economic growth.

 

BDO key executives cited for corporate governance excellence

An indication that BDO Unibank’s corporate governance practices are among the best in the region was again reinforced in the recently held 5th Asian Excellence Award 2015 led by the Hong Kong-based publication Corporate Governance Asia.

The Bank was cited as one of the Philippine companies with the Best Investor Relations, Best Corporate Social Responsibility, Best Environmental Responsibility and Best Corporate Communications Team.

Individual awards were also given to Teresita Sy-Coson, Pedro M. Florescio III and Luis S. Reyes Jr., as among Asia’s Best CEOs, CFOs and Investor Relations Company Professionals, respectively. Sy-Coson is the chairperson of BDO; Florescio is head of treasury; and, Reyes is head of investor relations & corporate planning.

BDO has been a consistent recipient of the Asian Excellence Awards, which annually recognize the achievements and excellence in management acumen, financial performance, corporate social responsibility, environmental practices, investor relations and communications of the publicly-listed firms, privately-owned entities, state-owned and government-controlled enterprises in Asia.

These awards are in the tradition of the high standards set and uphold by Corporate Governance Asia, the authoritative voice in corporate governance practices in the region. These are meant to motivate excellence among the different layers in corporate hierarchy especially since Asia continues to gain further recognition in the global arena as a preferred investment destination for its robust economic growth.