1st for a Philippine bank
BDO wins Best Asian Bank award

BDO UNIBANK, Inc. (BDO) was named the Best Asian Bank for 2013 by FinanceAsia at its recently held Annual Country Awards in Singapore. The coveted award is a first for a Philippine bank.

FinanceAsia, one of the region's leading financial publishing companies based in Hong Kong, commended BDO's strong performance, which included among others, profitability and loan-to-asset ratio.

"It represents the first time FinanceAsia has given this award to a Philippine bank, reflecting the rise in fortunes of the country, notably its improved credit rating," the publication stated in a report.

Standard & Poor's and Fitch upgraded the Philippines to investment grade earlier this year, and in July, Moody's Investors Service put the country on positive watch, which according to market pundits, could signify a parallel move this year.