banco de oro

Deutsche Bank sells trust unit to Banco de Oro (BDO)

Banco de Oro (BDO), the Philippines’ largest bank in terms of assets and deposit base, has announced that it is acquiring the local trust business of German financial services company Deutsche Bank.

In a disclosure submitted to the Philippine Stock Exchange, BDO said the deal covers the trust, fiduciary and investment management activities of Deustche Bank AG Manila branch.

Read More

ATM Withdrawal, Balance Inquiry Fees of Philippine banks

Do you know how much your bank is charging you whenever you use your automated teller machine (ATM) to make a withdrawal or balance inquiry in another bank’s ATM?

Be aware, because if you have no idea how much the fees are, they can eat up your total deposit balance.

Read More

BDO offers 7-year LTNCD

It seems like more and more local banks are preferring the use of Long-Term Negotiable Certificates of Deposits (LTNCD) as a way of raising additional funds. Instead of issuing more shares or launching a new debt instrument, banks in the Philippines are resorting to LTNCDs which consumers find more attractive because they are relatively safe yet high-yielding compared to traditional deposits.

Read More