THE New York-based Global Finance magazine has named Banco De Oro Unibank, Inc. (BDO) as one of the world's best trade finance banks for 2010.

BDO was cited the best in the Philippines by Global Finance editors, with inputs from industry analysts, corporate executives and technology experts. The winners were evaluated based on their transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies.

The list of best trade finance banks by region or country will be published in the February 2011 issue of the magazine.

“The availability of trade finance at reasonable prices is crucial to the health of the global economy. We have selected the banks that are best serving the needs of corporations worldwide as they engage in cross-border trade,” says Global Finance publisher and president Joseph D. Giarraputo in a statement.

Earlier, the same magazine cited BDO as one of the world's best foreign exchange providers for 2010.