5 October BDO and Philippine Banking
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1 5 October 2017 BDO and Philippine Banking
2 Looking Back 2
3 1967 Banco De Oro early 1990s Aurora Boulevard, Cubao, Quezon City 3
4 The lady who started it all
5 Industry Ranking in Total Assets 1997 U/KBs P bn 1 MBT PNB BPI LBP PCIB FEBTC Citi BA RCBC EBC BDO 39 5
6 Getting Started 1967 Banco De Oro circa 1997 Ortigas Center 6
7 To be the preferred bank in every market we serve 7
8 Milestones Expansion through organic growth and M&As Est. as Acme Savings Bank KB license Assets P13 BN Acquired by SM Group
9 Milestones Expansion through organic growth and M&As Est. as Acme Savings Bank 1967 Merged with Dao Heng Bank Philippines KB license 1994 Acquired 1st e-bank s banking business P36 BN Acquired by SM Group 1976 Assets P13 BN P121 BN P77 BN U/KB license IPO 2002 P234 BN P149 BN 2003 Niche Strategy 2005 Acquired UOB Philippines branch banking business Acquired Banco Santander Philippines
10 Industry Ranking in Total Assets 1997 U/KBs P bn 1 MBT PNB BPI LBP PCIB FEBTC Citi BA RCBC EBC BDO 39
11 Industry Ranking in Total Assets 1997 U/KBs P bn 2002 U/KBs P bn 1 MBT MBT PNB BPI BPI EPCI LBP LBP PCIB Citi FEBTC PNB Citi RCBC BA DBP RCBC BDO EBC CHIB BDO 39
12 Industry Ranking in Total Assets 1997 U/KBs P bn 2002 U/KBs P bn 2006 U/KBs P bn 1 MBT MBT MBT PNB BPI BPI BPI EPCI LBP LBP LBP EPCI PCIB Citi BDO FEBTC PNB PNB Citi RCBC DBP BA DBP RCBC RCBC BDO Citi EBC CHIB UBP BDO 39
13 Milestones Expansion through organic growth and M&As Merged with Equitable PCI Bank. Acquired Amex Savings Bank Philippines Est. as Acme Savings Bank Merged with Dao Heng Bank Philippines KB license Assets P13 BN P36 BN Acquired by SM Group Acquired 1st e-bank s banking business P121 BN P77 BN U/KB license P234 BN P149 BN P617 BN Acquired UOB Philippines branch banking business Acquired Banco Santander Philippines Full-Service Bank Strategy
14 Milestones Expansion through organic growth and M&As Est. as Acme Savings Bank Merged with Dao Heng Bank Philippines KB license Assets P13 BN P36 BN Acquired by SM Group Acquired 1st e-bank s banking business P121 BN P77 BN U/KB license Joint Ventures with Nomura Securities, and Mitsubishi Motors Phils./Sojitz/JACCS; Acquired exclusive franchise of Diners Club Int l and full control of Generali Pilipinas Life (renamed as BDO Life Assurance) Acquired Rural Bank of San Juan s banking business Merged with Equitable PCI Bank. Acquired Amex Savings Bank Philippines P234 BN P149 BN P802 BN P617 BN P862 BN P1.2 TN Acquired GE Money Bank Acquired UOB Philippines branch banking business Acquired Banco Santander Philippines P1.9 TN P2 TN P2.3 TN Acquired One Network Bank Acquired Citibank Savings, DB Trust and Real Bank Full-Service Bank Strategy
15 Industry Ranking in Total Assets 1997 U/KBs P bn 2002 U/KBs P bn 2006 U/KBs P bn 1 MBT MBT MBT PNB BPI BPI BPI EPCI LBP LBP LBP EPCI PCIB Citi BDO FEBTC PNB PNB Citi RCBC DBP BA DBP RCBC RCBC BDO Citi EBC CHIB UBP BDO U/KBs P bn 1 MBT BDO BPI LBP DBP PNB RCBC Citi UBP CHIB 175
16 Industry Ranking in Total Assets 1997 U/KBs P bn 2002 U/KBs P bn 2006 U/KBs P bn 1 MBT MBT MBT PNB BPI BPI BPI EPCI LBP LBP LBP EPCI PCIB Citi BDO FEBTC PNB PNB Citi RCBC DBP BA DBP RCBC RCBC BDO Citi EBC CHIB UBP BDO U/KBs P bn 2008 U/KBs P bn 1 MBT BDO BDO MBT BPI BPI LBP LBP DBP DBP PNB PNB RCBC RCBC Citi UBP UBP CHIB CHIB Citi 188
17 Industry Ranking in Total Assets 1997 U/KBs P bn 2002 U/KBs P bn 2006 U/KBs P bn 1 MBT MBT MBT PNB BPI BPI BPI EPCI LBP LBP LBP EPCI PCIB Citi BDO FEBTC PNB PNB Citi RCBC DBP BA DBP RCBC RCBC BDO Citi EBC CHIB UBP BDO U/KBs P bn 2008 U/KBs P bn Jun-17 U/KBs P bn 1 MBT BDO BDO 2,472 2 BDO MBT MBT 1,972 3 BPI BPI BPI 1,709 4 LBP LBP LBP 1,485 5 DBP DBP PNB PNB PNB SECB RCBC RCBC CHIB Citi UBP UBP UBP CHIB RCBC CHIB Citi DBP 536
18 Highlights: companies acquired by or merged with BDO 10 capital raising activities totaling more than P209 billion* 24 note and bond issues with an aggregate amount of almost P202 billion Note: * Including IFC loan conversion into equity 18
19 Where are we now? 19
20 Industry Ranking No. 1 among Philippine banks Total Assets 2,472 (in PHP billions) Gross Customer Loans (in PHP billions) 1,972 BDO Market Share 18% 1,592 BDO Market Share 22% 1,709 1,485 1,113 1, MBT BPI LBP PNB SECB CHIB UBP RCBC DBP MBT BPI LBP PNB CHIB SECB RCBC UBP EW Customer Deposits Assets Under Management (in PHP billions) (in PHP billions) 1,980 1,021 BDO Market Share 18% BDO Market Share 36% 1,462 1,434 1, MBT BPI LBP PNB CHIB UBP RCBC SECB DBP BPI MBT LBP SCB CHIB RCBC PNB UCPB SECB Source: Company data, consolidated statements of condition (SOC). Ranking as at 30 June 2017 Note: Financials prepared by banks under BSP s SOC requirements differ slightly from reported financials under SEC guidelines due to certain differences in accounting rules requested by the two authorities 20
21 Business Franchise Market-leading positions in almost all business lines #1 Customer Loans #1 Deposits #1 Assets Under Management #1 Remittances #1 Credit Cards 1 Leading Trade Services Provider 2 Major Player in Cash Management 3 #1 Investment Banking 4 #1 Private Banking #1 Rural Banking #2 Leasing & Finance #1 Insurance Brokerage 5 Notes: 1 In terms of cardholder base, merchant acquiring gross billings, and credit card receivables 2 According to The Asset, & Asian Banking and Finance 3 According to The Asian Banker, Asian Banking and Finance, Alpha South East Asia 4 In terms of corporate issuances 5 Among insurance brokers in terms of premiums produced and commissions earned 21
22 Market Reach Wide and extensive coverage in key areas North America - 3 Remittance Offices Europe Remittance Offices 1 Representative Office Middle East - 1 Representative Office SEA, China, HK, Taiwan, Korea & Japan Full-service Branch 6 Remittance Offices 4 Representative Offices Philippines - 1,159 Branches 27 International Offices 22 BDO ONB Total Luzon Metro Manila Visayas Mindanao Total Branches 1, ,159 As of 2 Oct 2017
23 Total Shareholder Return* vs PSE Index PSEi From To BDO PSEi May 2002 (BDO IPO) Sep % 12.5% (Php) Dec 2006 (EPCI merger Sep % 8.3% announcement) based on the closing price of P as of Sept. 29, 2017 Note * On an annualized basis, based on the closing price of P as of Sept. 29, 2017; adjusted for corporate actions 23
24 Genius is 1% inspiration, 99% perspiration - Thomas Alva Edison 24 24
25 The Sy Family Our number 1 supporter, primary financier and most vocal cheerleader
26 BDO Board of Directors 1967 Our guiding light and moral compass 26
27 Our Team Nestor V. Tan President and CEO With BDO since 1997 Over 30 years of banking experience Intermediation Products, Services and Subsidiaries Walter C. Wassmer Head Business Lending With BDO since 1997 Over 30 years of banking experience Ador A. Abrogena Head Trust and Investments With BDO since 1990 Over 30 years of banking experience Albert Santiago Yeo Head Private Banking With BDO since years banking experience Rolando C. Tanchanco Head Consumer Lending With BDO since year banking experience Edwin Romualdo G. Reyes Head Transaction Banking With BDO since year banking experience Eduardo V. Francisco Head Investment Banking With BDO since year banking experience Jaime C. Yu Head Branch Banking With BDO since 1997 Over 30 years of banking experience Roberto E. Lapid President BDO Leasing and Finance With BDOLF since 1993 Over 30-years of banking experience Maria Theresa L. Tan General Manager BDO Insurance With BDO since year banking and insurance experience Pedro M. Florescio III Head Treasury With BDO since 2001 Over 30 years of banking experience Renato Vergel de Dios CEO & Director Generali Life With Generali since years of experience in insurance Ramon T. Militar OIC, One Network Bank With BDO since years of banking experience Corporate Support Anthony Chua Head Global Operations With BDO since 2014 Over 30 years of banking experience Alvin C. Go Head Legal With BDO since 2013 In the practice of law for 30 years Luis S. Reyes Jr. Head IR & Corplan With BDO since 2003 Over 30 years of banking experience Lucy Co Dy Head Comptrollership With BDO since 1985 Over 30 years of banking experience Ricardo V. Martin Head IT Group With BDO since 2001 Over 30 years of banking experience Evelyn C. Salagubang Head Human Resources With BDO since 2007 Over 20 years experience in HR Maria Cecilia G. Fonacier Head Marketing Communications With BDO since 2017 Over 20 years of banking experience Estrellita V. Ong Head Internal Audit With BDO since 2011 Over 20 years experience in audit Atty. Federico P. Tancongco Head Compliance With BDO since 2005 Over 24 years banking experience Evelyn L. Villanueva Head Risk Management With BDO since 2002 Over 30 years of banking experience
28 Where do we go from here?
29 Philippine banking opportunities: what do we see? 29
30 33 % adults with savings in a bank 1967 Source: BSP 1Q17 Financial Inclusion DashBoard 30
31 36 % Philippine cities and municipalities without a formal banking presence 1967 Source: BSP 1Q17 Financial Inclusion DashBoard 31
32 42 % contribution of informal sector to Philippine GDP 1967 Source: World Bank 32
33 1.8 % insurance penetration 1967 Source: BSP 1Q17 Financial Inclusion DashBoard 33
34 $ 3,000 approximate Philippine per capita income
35 GDP Growth Philippines now in a higher growth trajectory Real GDP Levels (USD bn) CAGR of 6.6% CAGR of 4.0% Sources: National Statistics Authority Bangko Sentral ng Pilipinas 35
36
37 Competition 13% 37
38 Fintechs 38
39 Cyber Threat 13% 39
40 Globalization/Regionalization Assets of ASEAN Banks, 2016 ASEA N Bank Country Assets US$ Bn 1 DBS Bank Singapore OCBC Singapore UOB Singapore Maybank Malaysia 164 Top 3 Phil Banks combined CIMB Group Malaysia Public Bank Malaysia 85 7 Bangkok Bank Thailand 82 8 Slam Commercial Bank Thailand 81 9 Kasikorn Bank Thailand Krung Thai Bank Thailand Government Savings Bank Thailand RHB Bank Malaysia Bank of Ayudhya Thailand Hong Leong Bank Malaysia BDO Unibank Philippines Bank for Inv and Dev of Vietnam Vietnam Agribank Vietnam Vietin Bank Vietnam Metrobank Philippines Vietcombank Vietnam Bank of the Philippine Islands Philippines AmBank Group Malaysia Land Bank of the Philippines Philippines Thanachart Bank Thailand TMB Bank Thailand 23 Top 3 Phil banks = between Maybank and CIMB
41 Global standards are they helpful? 41
42 Developed World Philippines Markets : overbanked vs underbanked Shareholders : dispersed vs family control Focus : services vs intermediation capital markets transactional vs on balance sheet vs relationship Objectives: interim profits vs growth (market expectations) (franchise building) 42
43 Do global standards apply? Principles Prescription 43
44 Role of Banking fat cat bankers
45 Facilitating Financial Inclusion bankable population 45
46 Creating the Multiplier Effect P 10K/month remittance = P 10K/month consumption P 10K/month capacity to pay = P 1M affordable housing 46
47 Enabling Efficient Payments and Settlement 47
48 Easing Intermediation Funding Intermediation Lending Depositors Banks Borrowers 48
49 Helping in Public Policy Implementation Anti-Money Laundering and Anti-Terrorism Financing Laws 49
50 Banking Frenemies Collaboration Competition
51 危机 crisis opportunity 13% 51
52 Every morning in the plains of the Serengeti, a Gazelle wakes up knowing that to survive the day he must run faster than the and fastest every morning Lion; a Lion wakes up knowing that to survive the day he must run faster than the slowest Gazelle. 52
53 MORAL: It does not matter whether you are a Lion or a Gazelle, when the sun comes up you better be ready to run.
54 Thank you.
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