Business name: BDO Unibank, Inc.

Business type: Finance and Insurance Industry

Company address: Makati, Philippines

Brief History of the company:

BDO Unibank was established on January 2, 1968, as Acme Savings Bank, a thrift bank
with just two branches in Metro Manila. In November 1976, Acme was acquired by the Sy
Group, the group of companies currently owned by retail magnate Henry Sy, and renamed Banco
de Oro Savings and Mortgage Bank.
In December 1994, BDO became a commercial bank and was renamed Banco de Oro
Commercial Bank. 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). It is one of
the many banks owned by a Chinese-Filipino in the Philippines (others
include Metrobank and Chinabank).
BDO Unibank eventually became involved in insurance services in 1997 (it is
a bancassurance firm) by establishing a subsidiary called BDO Insurance Brokers. In 1999, BDO
Unibank expanded its insurance services through partnerships with Zamora Assurance and
Assicurazoni Generali s.p.a., one of the world's largest insurance firms, and Jerneh Asia Berhad,
a member of Malaysia's Kuok Group. Later, BDO Unibank. partnered up with its insurance
affiliates, which are Generali Pilipinas Life Assurance Company and Generali Pilipinas
Insurance Company, in March 2000.
The new BDO Unibank will retain the ticker symbol of the old Banco de Oro. 1.3 billion
BDO shares will be issued in exchange for 727 million Equitable PCI Bank shares, which was
de-listed on June 4, 2007.
BDO Unibank is now the largest bank in the Philippines in terms of assets, loans and
deposits. The 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. For a while, the entity was known as Banco de Oro-EPCI, Inc., but
announced that it would go by the name Banco de Oro Unibank, Inc. starting February 2007.
Finally in 2010 Banco de Oro changed its name to BDO Unibank, Inc. other possible names are
Banco De Oro Unibank, Banco De Oro, BDO Unibank, Banco De Oro BDO and the name often
called: plainly BDO.
As of 2018, BDO has the largest distribution network with over 1,200 operating branches
and more than 4,000 ATMs nationwide. It is also currently the country's largest bank in terms of
consolidated resources, customer loans, deposits, assets under management and capital, as well
as branch and ATM network nationwide.

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