MANILA—Sy-led Banco de Oro Unibank Inc. (BDO) on Friday said it finished 2016 with consolidated trust assets under management (AUM) of PHP1.03 trillion, higher than year-ago’s PHP917 billion and the first for a Philippine financial institution.
In a disclosure with the Philippine Stock Exchange (PSE), BDO said bulk of these funds were with the Trust and Investment Group (TIG) at PHP755 billion while the balance of PHP273 billion was with the Wealth Advisory and Trust Group (WATG) of subsidiary BDO Private Bank (BDOPB).
It said TIG is known for its retail investment products, particularly the Unit Investment Trust Fund (UITF), and customized portfolio for individuals and corporations.
BDOPB, on the other hand, services investment and estate planning needs of high net worth individuals using an open architecture framework.
BDO Executive Vice President and Trust Officer Ador A. Abrogena said “2016 was a banner year for BDO both for business growth and new product development in terms of trust assets.”
“We are grateful to our clients whose continuing confidence in our trust and investment products and services propelled us to reach PHP1 trillion AUM level. This achievement will not only inspire us to work harder towards better serving our clients, it will also strengthen our resource base that will allow us to fully harness economies of scale and thereby deliver better performance,” he added.