MANILA, Philippines - The United Kingdom-based publication The Banker has ranked Banco De Oro Unibank, Inc. (BDO) as the Philippines' top bank for 2010.
Worldwide, BDO placed 396th in The Banker's Top 1000 World Banks ranking, a survey conducted annually by one of the world's premier banking and finance magazines. BDO climbed 40 notches from its previous world ranking of 436th.
The rankings are based on the definition of Tier 1 capital as prescribed by Basel's Bank for International Settlements (BIS).
"The object of the survey is to show the bank's soundness in relation to the Basel requirement of a minimum ratio of Tier 1 capital to risk-weighted assets of 4% and a minimum ratio of total capital to risk-weighted assets of 8%," according to The Banker.
BDO, which industry-leading corporate, retail, investment banking and insurance services, is a recipient of various accolades from both local and international award-giving bodies, including Euromoney, FinanceAsia, Asiamoney and Wall Street Journal.