BDO Unibank, Inc. commonly known as Banco de Oro and BDO is a major bank in the Philippines. It is owned by the SM Group of Companies, one of the country's largest conglomerates and owner of the SM chain of malls. Following the Banco de Oro-Equitable PCI Bank merger, the bank has since become Banco de Oro Unibank, Inc.
Banco de Oro had its humble beginnings on January 2, 1968, when it started off as a thrift bank calledAcme Savings Bank. With two branches in Metro Manila, Acme was one of the smallest banks in the Philippines at the time. In November of 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 of 1994, BDO became a commercial bank. To reflect the bank's new status, BDO was renamed Banco de Oro Commercial Bank, and in September of 1996, BDO became a universal bank, which led to the bank's name being changed to the current Banco de Oro Universal Bank. It is one of the many banks owned by a Chinese-Filipino in the Philippines (others include Metrobank and Chinabank). BDO eventually became involved in insurance services in 1997 (it is a banc assurance firm) by establishing a subsidiary called BDO Insurance Brokers. In 1999, BDO expanded its insurance services through partnerships with 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 partnered up with its insurance affiliates, which are Generali Pilipinas Life Assurance Company and Generali Pilipinas Insurance Company, in March of 2000. CORPORATE PROFILE
BDO Leasing & Finance, Inc. is a BDO Unibank subsidiary that has distinguished itself to be on the leasing edge of the leasing and finance industry. Reputed for exceptional service and innovation, it has strengthened its market leadership year after year....
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