- A B A PA U D 3 X R E P O RT -

BAN
GROUP 1
SPECIA
LIZED
INDUST
A S P E C I A L I Z E D I N D U S T RY I S A D I S T I N C T M A R K E T T H AT H A S A U N I Q U E WAY O F
A C C O U N T I N G F O R transactions and reporting its financial results. These differences are
allowed under the applicable accounting framework, such as IFRS or GAAP.

RY
Examples of specialized industries are airlines, banking, public
utilities, and insurance.
 I.
INTRODU
BCTION
ANKING
EXAMPLES OF
TO
A bank is a financial institution
licensed to receive deposits and BANKS:
make loans. Banks may also provide • COMMERCIAL
financial services such as wealth
• RETAIL
management, currency exchange,
• COMMUNITY
and safe deposit boxes. There are
several different kinds of banks DEVELOPMENT
including retail banks, commercial • INVESTMENT
or corporate banks, and investment • ONLINE AND NEO
banks. In most countries, banks are
• CREDIT UNIONS
regulated by the national government
or central bank.
• SAVINGS AND
LOAN
ASSOCIATIONS
 BDO
UNIB
ANK
B D O I S A F U L L - S E RV I C E U N I V E R S A L B A N K I N T H E P H I L I P P I N E S . I T P R O V I D E S A
C O M P L E T E A R R AY O F I N D U S T RY- L E A D I N G P R O D U C T S A N D S E RV I C E S I N C L U D I N G
L E N D I N G ( C O R P O R AT E A N D C O N S U M E R ) , D E P O S I T- TA K I N G , F O R E I G N E X C H A N G E ,
B R O K E R I N G , T R U S T A N D I N V E S T M E N T S , C R E D I T C A R D S , C O R P O R AT E C A S H
M A N A G E M E N T, A N D R E M I T TA N C E S I N T H E P H I L I P P I N E S . T H R O U G H I T S L O C A L
SUBSIDIARIES, THE BANK OFFERS LEASING AND FINANCING, INVESTMENT
B A N K I N G , P R I VAT E B A N K I N G , R U R A L B A N K I N G , L I F E I N S U R A N C E , I N S U R A N C E
B R O K E R A G E , A N D S T O C K B R O K E R A G E S E RV I C E S .
 I I . R E L E VA N T N E W S A N D U P D AT E S

S W
-EXTERNAL
O T
- INTERNAL - LACK OF COVERAGE IN
- HELPFUL RURAL AREA. -ADVANCEMENTS IN
- GLOBAL UNCERTAINTY
- FINANCIAL STABILITY - GLOBAL ECONOMICS TECHNOLOGIES.
OF NATION DUE TO ECHANGE
IN ECONOMICS
- OPPORTUNITIES FOR
- FINANCIAL RATES. - RECESSION
RURAL GROWTH.
ASSISTANCE - SOCIETAL EVOLUTION. - GOVERNMENT
- DIVERSE SERVICES REGULATION.
 REGULATO
RY
IMPLICATI
BANKS IN THE PHILIPPINES
A R E C L A S S I F I E D I N TO

ONS:
(1) universal banks,
(2) commercial banks,
(3) thrift banks,
(4) rural banks,
(5) cooperative banks,
(6) Islamic banks,
(7) government-owned banks and
(8) other banks as may be classified by the Bangko Sentral ng
Pilipinas (BSP).

COVID
IMPACT
T H E P H I L I P P I N E B A N K I N G I N D U S T RY I S N O T S PA R E D
F R O M T H E A D V E R S E I M PA C T O F T H I S PA N D E M I C .

The Bangko Sentral ng Pilipinas (BSP) issued the implementing rules and regulation for the Bayanihan Act
RA No. 11469. The law requires all lenders under BSP supervision to grant a 30-day grace period or extension
for the payment of loans due within the enhanced community quarantine (ECQ) period, without imposing
additional interest, penalties or charges on their borrowers.
Further, the BSP also relaxed the know-your-customer (KYC) requirements for both over the counter and
electronic or online transactions. This is to make sure that Filipinos continue to have access to basic
government and financial services amid the COVID-19 situation.
 BDO
UNIBANK,
PHILIPPIN E
B D O ) , I S A s t
O ( rge
W N A S B A N C O D E OsR s e t s , t h e f i r m i s t h e .l aB D O
NO l a 16
, I N C . , C O M M O N L Y Ka k a t i . I n t e r m s o f t o t sa i a a s o f M a r c h 3 1 , 2 r0y b y m a r k e t
ANK IN M ast A oun t
B D O U N I BG C O M P A N Y B A S E D1 5 t h l a r g e s t i n S o u t h ee l a r g e s t b a n k i n t h e c
BANKIN he Philippines and G r o
o th
u p . I t i s a las t i o n .
k i n t f S M
ba n
a l s o a member o capitaliz t o t h e retail and

INC.
Uniban k i s ser v i c e s ,
p r o v i d e s p r o d u c t s a n dt , S M E , a n d c o n s u m e ro)r a t e
It rke orp
s e r v i c e u n i v e r s a l b a n k(. c o r p o r a t e , m i d d l e m tam e n t s , c r e d i t c a r d s , cs i n g a n d
a full- ending inves rs Lea
T h e f i r m i s t e m a r k e t s i n c l u d i n g gle , b r o k e r i n g , t r u s t a ns idd i a r i e s , t h e B a n k o f fcee b r o k e r a g e a n d
corpora g , f o r e i g n e x c h at an n c e s . T h r o u g h i t s s u B b
a s s u r a n c e , I n s u r avne r 1 , 3 0 0 o p e r a t i n g
- t a k i n a n c o
deposit a g e m
it ,
e n t a n d r e mn k i n g , P r i v a t e B a n k i ns gt r i b u t i o n n e t w o r k w i et h.
ca s h m a n a d i i d
nvestment B the largest Ms nationw
F i n a n c i n g , aIg e s e r v i c e s B D O h a sn d m o r e t h a n 4 , 0 0 0 A T
stockbroker branches a

"BDO still biggest bank; Landbank overtakes BPI". The Philippine Star. Retrieved 23 January 2019.
"The World's Largest Public Companies". Forbes. Retrieved 23 January 2019.
"BDO Unibank on the Forbes World's Best Employers List". Forbes. Retrieved 23 January 2019.
BDO Unibank 2010 Annual Report (PDF). Makati.
(B) EFFECTIVE SUBSEQUENT TO 2020
BUT NOT ADOPTED EARLY
(i)PFRS 3 (Amendments), Business
Combination – Reference to the Conceptual
Framework (effective from January 1, 2022).

(ii)PAS 16 (Amendments), Property, Plant and

Equipment – Proceeds Before Intended Use

(iii)PAS 37 (Amendments), Provisions,

Contingent Liabilities and Contingent Assets -
Onerous Contracts - Cost of Fulfilling a
Contract

(iv)PFRS 9 (Amendments), Financial

Instruments – Fees in the ‘10 per cent’ Test for
Derecognition of Liabilities.Illustrative
Examples Accompanying PFRS 16, Leases –
Lease Incentives.
(VI)PFRS 10 (AMENDMENTS),
CONSOLIDATED FINANCIAL
STATEMENTS, AND PAS 28
(AMENDMENTS), INVESTMENTS
IN ASSOCIATES AND JOINT
VENTURES – SALE OR
CONTRIBUTION OF ASSETS
BETWEEN AN INVESTOR AND ITS
ASSOCIATES OR JOINT VENTURE

(Vii)PFRS 17, Insurance Contracts

 SPECIFIC ACCOUNTS
AND DISCLOSURES
-DUE FROM BANGKO SENTRAL NG PILIPINAS

-Due from Other Banks

-Premises, Furniture, Fixtures and Equipment

-Bills payable

-Deposit Liabilities

-Securities purchased under reverse repurchase agreement (SPURRA)

-Interbank loans receivables

-Foreign currency notes and coins (FCNC)

 ISSUES
IDENTIFIED
ACTUAL:
POTENTIAL:
> Technical issues in the BDO
> Outdated Mobile mobile banking application for
Experiences. iPhone iOS 14 users, following
the release of an app update.
>Online Banking Fraud.
> BDO clients lose money due to
alleged online banking hack.
> Security Breaches.
 S P E C I A L I Z E D I N D U S T RY D E F I N I T I O N . ( 2 0 2 1 , F E B R U A RY 2 5 ) . A C C O U N T I N G T O O L S . h t t p s : / / w w w. a c c o u n t i n g t o o l s . c o m / a r t i c l e s / 2 0 1 7 / 5 / 1 6 / s p e c i a l i z e d -
industry

B a r o n e , A . ( 2 0 2 1 ) . H o w D o e s B a n k i n g Wo r k ? . h t t p s : / / w w w. i n v e s t o p e d i a . c o m / t e r m s / b / b a n k . a s p

B D O U n i b a n k . ( 2 0 2 2 ) . L i n k e d I n . h t t p s : / / w w w. l i n k e d i n . c o m / c o m p a n y / b d o - u n i b a n k

W h a t a r e c o m m o n t y p e s o f b a n k s , a n d w h i c h i s r i g h t f o r m e ? . ( 2 0 2 1 , O c t o b e r 1 2 ) . C r e d i t K a r m a . h t t p s : / / w w w. c r e d i t k a r m a . c o m / m o n e y / i / t y p e s - o f - b a n k s

S W O T A N A LY S I S F O R B A N K I N D U S T RY ( 2 0 2 0 ) . P R O J E C T 4 M B A .
H T T P S : / / W W W. P R O J E C T S 4 M B A . C O M / S W O T- A N A LY S I S - O F - B A N K I N G - I N D U S T RY / 4 7 5 6 /

A U D I T E D F I N A N C I A L S TAT E M E N T S O F B D O U N I B A N K , I N C . A N D I T S S U B S I D I A R I E S A S O F D E C E M B E R 3 I , 2 0 2 0 . ( 2 0 2 1 , F E B R U A RY 2 6 ) . B D O
U N I B A N K , I N C . H T T P S : / / W W W. B D O . C O M . P H / S I T E S / D E FA U LT / F I L E S / P D F / B D O - 2 0 2 0 - A F S . P D F

B D O U N I B A N K , I N C . ( 2 0 2 1 , F E B R U A RY 2 6 ) . R E T R I E V E D F R O M B D O W E F I N D WAY S : H T T P S : / / W W W. B D O . C O M . P H / S I T E S / D E FA U LT / F I L E S / P D F / B D O -
2020-AFS.PDF

M A L A S I G . ( 2 0 2 0 , S E P T E M B E R 2 9 ) . C L I E N T S C O N T I N U E T O E N C O U N T E R E R R O R S A F T E R B D O R E L E A S E D A P P U P D AT E F O R I P H O N E I O S 1 4 U S E R S .
R E T R I E V E D F R O M : H T T P S : / / I N T E R A K S Y O N . P H I L S TA R . C O M / T R E N D S - S P O T L I G H T S / 2 0 2 0 / 0 9 / 2 9 / 1 7 7 8 2 3 / C L I E N T S - C O N T I N U E - TO - E N C O U N T E R -
E R R O R S - A F T E R - B D O - R E L E A S E D - A P P - U P D AT E - F O R - I P H O N E - I O S - 1 4 - U S E R S /

CEP EDA. (20 21 , DECEM BER 1 2) . BDO CLIENTS LOSE MONEY DUE TO ALL EGED ONL INE B ANKING HACK. RET RIEVED FROM :
H T T P S : / / W W W. R A P P L E R . C O M / B U S I N E S S / B D O - C L I E N T S - L O S E - M O N E Y- D U E - A L L E G E D - O N L I N E - B A N K I N G - H A C K /

C A R A B A L L O . ( 2 0 1 8 , D E C E M B E R 1 8 ) . B D O H A C K I N G B I G G E R T H A N F I R S T T H O U G H T. R E T R I E V E D F R O M :
H T T P S : / / W W W. M A N I L AT I M E S . N E T / 2 0 2 1 / 1 2 / 1 7 / N E W S / O T H E R - I N S T I T U T I O N S - U S E D - T O - F U N N E L - S T O L E N - B D O - F U N D S - B S P / 1 8 2 6 3 0 8

C A Ñ A . ( 2 0 2 0 , S E P T E M B E R 3 0 ) . B D O O N L I N E B A N K I N G C L I E N T S S T I L L R E P O RT I N G I S S U E S W I T H T H E M O B I L E A P P. R E T R I E V E D F R O M :
H T T P S : / / W W W. E S Q U I R E M A G . P H / M O N E Y / I N D U S T RY / B D O - O N L I N E - B A N K I N G - C L I E N T S - M O B I L E - A P P - I S S U E S - A 0 0 2 8 9 - 2 0 2 0 0 9 3 0

W I N G A R D . ( N . D . ) . TO P 1 0 B A N K I N G I N D U S T RY C H A L L E N G E S — A N D H O W Y O U C A N O V E R C O M E T H E M . R E T R I E V E D F R O M :
H T T P S : / / G L O B A L . H I TA C H I - S O L U T I O N S . C O M / B L O G / TO P - 1 0 - C H A L L E N G E S - B A N K I N G - F I N A N C I A L - O R G A N I Z AT I O N S - C A N - O V E R C O M E

REFER