Thursday, 23 May 2024

BDO Unibank was awarded The Mortgage Product of the Year for 2018 at The Asian Banker Philippines Country Awards 2018

5 min read

By The Asian Banker

  • BDO Unibank maintained its dominant position in the mortgage lending market, with the largest branch network
  • The banksaw a noticeable expansion of its home mortgage loans through its partnerships with top developers in the country
  • The bank was able to grow its mortgage loans while keeping its non-performing loans stable and low

Mr. Foo Boon Ping – Managing Editor TAB, Ms. Grace G. Lastimosa – FVP, Head of Institutional Banking Group, Ms. Angelita Manulat – Senior Vice President, Head - Consumer Lending Group, Ms. Prima R. Madrelejos – VP, Mr. David Gyori – International Resource Director of TAB, Mr. Richard Hartung – International Resource Director of TAB

Manila, October 5th 2018 —BDO Unibank received The Mortgage Product of the Year awardfor the Philippines at The Asian Banker Philippines Country Awards 2018. The awards ceremony was held in conjunction with the prestigious The Future of Finance Philippines 2018, the annual gathering for decision makers in the financial services industry in the country, held at the Fairmont Makati, Manila on October 5th, 2018.

 

BDO Unibank maintained its dominant position in the mortgage lending market, with the largest branch network

 

BDO Unibank maintained its dominant position in the mortgage lending market in the Philippines. The bank was the leading institution in the Philippines with the largest network of 1,180 branches in the country at the end of 2017. As such, its consumer loans business effectively managed opportunities in high-growth areas increasing provincial lending by 28% year-over-year, boosted by home loans, with gross consumer loans increasing by 18.4% from $27.3 billion (PHP 1,482 billion) in the previous year to $32.31 billion (PHP 1,755 billion) at the end of 2017. BDO’s market share remained stable over the year, serving more than 30% of the outstanding loans in the market, with a high concentration on home and auto loans.

 

The banksaw a noticeable expansion of its home mortgage loans through its partnerships with top developers in the country

 

The bank’s mortgage book grew by 16% during the first half of the year. This was also due to its synergies with the parent corporation, SM Group, for example, home mortgage financing for SM property projects. It was also due to strategic partnerships with top developers such as Century Properties Group.

The bankwas able to grow its mortgage loans while keeping its non-performing loans stable and low

Leveraging on its superior position in the market, BDO is able to offer competitive interest rates and promotions on a wide range of home loan options, with a five day processing period, allowing the bank to increase its mortgage loans. The bank was able to do so while maintaining a stable level of non-performing loans over the last five years, that was significantly lower than the system NPL of 2.8. 

About The Asian Banker

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com

For all Business Achievement Awards 2018 photos, please visit

https://www.facebook.com/pg/TheAsianBanker/photos/?tab=album&album_id=10156587646114804

 

For further information on the collaterals for winning banks, please contact:

Mr. Foo Boon Ping

Managing Editor

Tel: (+65) 6236 6526

bpfoo@theasianbanker.com

www.theasianbanker.com

 

 

 



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