Frequently Asked Questions

 

Corporate Information

1.1     What is BDO’s corporate name?

The Bank changed its corporate name to “BDO Unibank, Inc.” effective 4 November 2011. However, the Bank does business under any of the following names and styles: BDO, BDO Unibank, Banco De Oro, Banco de Oro Unibank, BDO Banco De Oro.

 

1.2     Where is BDO’s head office located?

BDO’s Head Office is located at 7899 Makati Avenue, Makati City, in the country’s business and financial districts.

 

1.3     What are BDO's core values and mission statement?

Please refer to Business Operations under About BDO section of this website for BDO’s core values and mission statement.

 

1.4     What are BDO’s major milestones?

Please refer to Business Operations - About BDO section of this website for BDO’s major milestones.

 

1.5     What bank products and services are offered by BDO?

BDO is a full-service universal bank that provides a complete array of industry- leading products and services to the retail and corporate markets including Loans, Deposits, Foreign Exchange, Brokering, Trust and Investments, Credit Cards, Retail Cash Cards, Corporate Cash Management, and Remittances. Through its subsidiaries, the Bank offers Leasing and Financing, Investment Banking, Private Banking, Rural Banking, Life Insurance, Insurance Brokerage, and online and non-online brokerage services.

The Bank also offers digital banking solutions to make banking easier, faster and more secure for its clients.

 

1.6     What is BDO’s ranking in the banking industry?

As of 30 June 2021, BDO maintained its position as the industry leader in terms of consolidated assets, customer loans, deposits, trust assets and capital, as well as branch and ATM network nationwide.

For more details, please refer to Industry Ranking under Investor Relations as well as under Business Operations – About BDO sections of this website.

 

1.7     How many branches does BDO have?  Where can I find a list of your branches?

As of 30 June 2021, BDO had 1,492 domestic operating branches and offices (including BDO Network Bank branches and offices) and two full-service branches overseas. These are complemented by more than 4,400 ATMs nationwide. 

Please refer to Branches/ATMs of this website for the complete list of names and contact details of BDO branches.

 

1.8     Do you have foreign branches or offices?  Where can I find a list of BDO’s overseas offices?

We have full-service branches in Hong Kong and Singapore and 14 remittance/ representative offices operating in Asia, the Middle East, Europe, and the United States (as of end-June 2021).

For the complete list of BDO’s overseas offices, please refer to Domestic and International Network under Business Operations – About BDO section of this website.

 

1.9     Where can I find a list of BDO’s correspondent banks?

Please refer to Correspondent Banks under Business Operations – About BDO section of this website for the Bank’s list of correspondent banks.

 

1.10     Where can I find a list of BDO Subsidiaries and Affiliates?

Please refer to Board, Management and Organizational Structure - About BDO section of this website for the list of BDO Subsidiaries and Affiliates.

 

1.11     Has BDO received any awards or recognition?

Please refer to Awards and Citations under Business Operations - About BDO section of this website. 

 

Board of Directors and Shareholder Matters

2.1     Who are the members of BDO's Board of Directors and what is their business experience?

Please refer to Board, Management and Organizational Structure - About BDO section of this website, as well as to the Definitive Information Statement (DIS) under SEC Filings - Company Disclosures, which expounds on the Board members’ business experience.

 

2.2     How many independent Directors comprise BDO’s Board?

Out of the total 11 members of the Bank’s Board, five (5) are Independent Directors representing 45% of the Board. There are nine (9) Non-Executive and Independent Directors that account for 82% of the Bank’s Board.

Please refer to the Bank’s Corporate Governance Manual under Corporate Governance section of this website.

 

2.3     Does BDO have a term limit for Independent Directors?

Yes. An Independent Director of the Bank may only serve as such for a total cumulative tenure of nine (9) years reckoned from 1 January 2012, after which the Independent Director shall be perpetually barred from re-election as such in the Bank. However, he may continue to qualify for nomination and re-election as a non-independent director. The term limit is in accordance with international best practice.

 

2.4     Who are the members of BDO's executive management and what is their business experience?

Please refer to the Definitive Information Statement (DIS) under SEC Filings – Company Disclosures section of this website for the list of BDO’s executive management and their business experience.

 

2.5     Who are BDO’s major shareholders?

BDO’s controlling shareholder is the SM Group.

For more details, please refer to “Ownership” under the “Company Disclosures” section of this website.

 

2.6     When is BDO’s Annual Shareholders’ Meeting?

The Bank’s Annual Shareholders’ Meeting (ASM) was conducted virtually on 23 April 2021, Friday, at two o’clock in the afternoon, with the proceedings livestreamed via Cisco Webex events.

Please refer to the Minutes of the Annual Stockholders’ Meeting and Definitive Information Statement (DIS) found under Annual Stockholders’ Meeting and SEC Filings, respectively, of the Company Disclosures section of this website for details on the Bank’s Annual Shareholders’ Meeting.

 

2.7     Does BDO pay dividends?  What is the Bank’s dividend policy?

BDO recognizes the importance of providing a stable and sustainable dividend stream consistent with its commitment to shareholders. Since June 2013, the Bank has been paying regular cash dividends of P0.30 per quarter, or an annual equivalent of P1.20 per share and will endeavor to maintain this while ensuring financial flexibility.

The Board of Directors may, at its discretion and depending on the business results for the year and capital needs of the business, declare and approve the distribution of additional special dividends to all shareholders normally announced at the Annual Stockholders’ Meeting. For details, please refer to Dividend History under Market and Capital Information of the Investor Relations (IR) section of this website.

Aside from cash dividends on its common shares, BDO’s Board of Directors has declared annual cash dividends on the Bank’s peso-denominated preferred shares carrying a dividend rate of 6.5% since 2009.

Apart from cash dividends, the Bank also issued stock dividends in 2012 equivalent to 3% of the Bank’s outstanding capital stock.  

For more details on the record and payment dates, please refer to Dividend History under Market and Capital Information of the Investor Relations (IR) section of this website.  

 
Compliance

3.1     Does the Bank have Anti-Money Laundering (AML) policies? Where can I find information on BDO’s compliance with the Anti-Money Laundering Act (AMLA)?   

BDO has AML policies in place and these apply to all local and foreign branches and subsidiaries of the Bank. Further, BDO foreign branches as well as its subsidiaries abroad also comply with AML laws, rules and regulations of their respective countries/jurisdictions.   

Further details on the Bank’s compliance with AMLA may be found in the Bank’s AML KYC Questionnaire, the Wolfsberg Anti-Money Laundering Questionnaire and the USA Patriot Act Certification which are all posted under Compliance and AMLA – About BDO section of this website. 

 

3.2     Is BDO a signatory to the US Foreign Account Tax Compliance Act (FATCA)?

Yes, BDO signed up on 25 April 2014 as a participating FFI (Foreign Financial Institution) in the US FATCA. On 27 March 2015, the Bank became a Registered-Deemed Compliant FI/ Reporting FI under a Model 1 Intergovernmental Agreement (IGA). For more details, please refer to Compliance and AMLA under About BDO section of this website. 

For more details on BDO Compliance-related matters, please refer to Annual Corporate Governance Report (ACGR) under Corporate Governance section of this website. 

 

3.3     How often does the Board review and approve the Bank’s vision and mission?

The Board reviews and approves the Bank’s vision and mission every five (5) years. The Board last approved the Bank’s vision and mission, together with the Bank’s Growth Strategy, on 31 May 2014. 

The Board periodically reviews, notes, and/or approves the Bank’s Vision and Mission as part of the regular presentation and discussion of the Bank’s strategic initiatives, with the last affirmation done on 28 October 2020.

 

Sustainability and Environmental, Social and Governance (ESG)

4.1     Does the Bank have a Sustainability Report?

Yes, the Bank released the third issue of its Sustainability Report outlining the Bank’s economic, environmental, social, and governance performance in 2020. The Report is a substantiation of BDO’s commitment to the United Nations Sustainable Development Goals (UN SDGs), the principles of the United Nations Global Compact (UN GC) and the Greenhouse Gas (GHG) Protocol, and prepared in accordance with the GRI Standards: Core Option.

The 2020 Sustainability Report has three (3) Special Sections, namely: A Decade of Sustainable Finance, which marks a milestone in the Bank’s risk-based impact financing initiatives; Finding Ways through a Pandemic, which details the Bank’s COVID-19 business continuity response to the pandemic; and Driving Digitalization, which discusses the Bank’s initiatives to enhance digital banking.

For more details, please refer to the section on Sustainability under the Corporate Governance of this website.
 

4.2     What is the Bank’s Sustainability Philosophy?

BDO’s Sustainability Philosophy is as follows:

“We seek to achieve strategic resilience in the way we do business. We aim to embed sustainability principles when making decisions, assessing relationships, and creating products.”

 

4.3     Which principles does the Bank’s sustainable development strategy adhere to?

The Bank’s sustainable development strategy supports the principles of the United Nations Global Compact and is aligned with UN Sustainable Development Goals (SDGs).

 

4.4     Does the Bank have a Sustainability Framework?   

Yes, the Bank has a Sustainability Framework that defines the strategies that serve as guideposts in its journey towards sustainability.

 

4.5     What are the Bank’s sustainability strategies?

The Bank’s sustainability strategies are: Product Sustainability, Sustainability Contribution, Human Capital Sustainability, Disaster Response Sustainability and Governance-Based Sustainability.

 

4.6     What is the focus of each strategy?

Product Sustainability Strategy – Create products and services that anticipate the evolving needs of BDO customers and support sustainable development goals, as well as develop capabilities to understand the Bank’s customers and reach the underserved markets with relevant products and services that meet their unique needs and ways of doing business.

Sustainability Contribution Strategy – Support the achievement of national economic goals through financial inclusion and impact financing in infrastructure, eco-friendly solutions, green facilities, and disaster resilience initiatives.

Human Capital Sustainability Strategy – Develop leaders in the sustainability movement and aim to grow a “can lead” workforce that adapts a sustainability mind-set and thrives with innovative thinking and customer-focused attitude.

Disaster Response Sustainability Strategy – Leverage the Bank’s resources towards the relief, rehabilitation, and recovery of disaster-stricken communities.

Governance-based Sustainability Strategy – Continuously enhance the Bank’s corporate governance framework to sustain superior business performance anchored on the principles of accountability, transparency, integrity, and fairness, together with the Bank’s partners.

 

4.7     Are there any significant milestones of the Bank on sustainability?

In February 2018, the Bank issued the BDO Green Bond amounting to USD150 million to exclusively finance climate-smart projects and help contribute to the development of climate finance market in the country. The BDO Green Bond is the first green bond by a commercial bank in the Philippines, fully subscribed to and underwritten by the IFC. It is also IFC’s first green bond investment in a financial institution in East Asia and the Pacific.

 

4.8     Does BDO have a Sustainable Finance Framework (SFF)?

Yes, the Bank has a Sustainable Finance Framework (SFF) under which the Bank intends to issue Sustainable Finance Instruments (SFI), such as green, social and sustainability bonds, loans and other debt financing instruments, and use the proceeds to finance and/or refinance existing and/or future projects eligible under the Green and Social categories.

The Bank’s SFF is accredited by Sustainalytics, a leading independent Environmental, Social and Governance (ESG) research and ratings provider based in New York.

For more information about the Bank’s SFF and Sustainalytics’ Second Party Opinion (SPO), please access the following links:

https://www.bdo.com.ph/news-and-articles/BDO-Unibank-Sustainalytics-Sustainable-Finance-Framework-SFF-Environment-Social-Governance-ESG-Sustainability

https://www.bdo.com.ph/sites/default/files/pdf/BDO-Sustainable-Finance-Framework.pdf

https://www.bdo.com.ph/sites/default/files/pdf/BDO-Sustainable-Finance-Framework-Second-Party.pdf

 

4.9     What are BDO’s Corporate Governance policies?

Please refer to Manual on Corporate Governance and Company Policies, as well as to the Bank’s Sustainability Report under the Corporate Governance section of this website.

 

4.10     Where is the section on ESG? 

The Sustainability section now covers the Bank’s ESG initiatives. For more details, please refer to the Bank’s Sustainability Report under Corporate Governance section of this website. 

Financial Information

5.1     When does BDO report its financial results?

In accordance with regulatory requirements, BDO reports to the Securities and Exchange Commission (SEC) interim financial results within forty-five (45) days after the end of each quarter, while annual results are filed within 105 days after the end of the financial year. In actual practice, the Bank’s quarterly results are usually disclosed within 30 days after each quarter, while the annual results have been disclosed within 60 days after the end of the year.

 

5.2     What is the basis of preparation of BDO’s financial statements?

The financial statements of BDO are prepared in accordance with Philippine Financial Reporting Standards (PFRS). 

For more details, please refer to Note 2 of the 2020 Audited Financial Statements under Financial Reports of the Company Disclosures section of this website.

 

5.3     Who is BDO’s independent auditor?

BDO’s independent auditor is Punongbayan & Araullo, a member firm within Grant Thornton International Ltd.

 

5.4     Where can I obtain information on BDO's latest financial results?

BDO’s latest and historical financial results are available under Annual Reports and SEC Filings of the Company Disclosures section of this website.

 

5.5     Are BDO Annual Reports available online?

BDO Annual Reports are available for downloading under the Company Disclosures section of this website.

 

5.6     Is BDO rated by international credit rating agencies?

Yes, BDO is rated by international credit rating agencies Fitch Ratings and Moody’s Investor Service. 

Details of latest BDO credit ratings are available under Investment and Credit Ratings Information of the IR section of this website.

 

5.7     Where can I find information on BDO’s capital and funding history?

Highlights of BDO’s capital and funding history are included in Financial Highlights under About BDO section of this website. Meanwhile, a more detailed information on the Bank’s capital and funding history are available under Market and Capital Information of the IR section of this website.

 

5.8     Where can I access a copy of the Offering Circular for the Stock Rights Offer or Bonds and LTNCDs (Long-Term Negotiable Certificates of Deposits) previously issued by the Bank?

The Offering Circulars for the Stock Rights Offer as well as Fixed Rate Peso Bonds, USD Senior Notes and LTNCDs previously issued by the Bank are found under Offering Circulars in the IR section of this website. 

Market and Capital Information

6.1    On what stock exchange is BDO listed and traded and what is its stock symbol?

BDO Unibank, Inc.’s common shares of stock are listed and traded on the Philippine Stock Exchange under the symbol “BDO”.

For more trading details on the BDO stock, please refer to Stock and ADR Information under Investment and Credit Ratings Information of the IR section of this website.

 

6.2    Where can I find current and historical BDO share price information?

BDO’s current and historical share price information are available under Stock Prices – Market and Capital Highlights of the IR section of this website where direct links are provided to relevant sections of the Philippine Stock Exchange (PSE) website. 

 

6.3    Where can I find information on the Bank’s historical Price to Book Value?

Information on the Bank’s book value, share price and historical price to book value ratio is found under Bank Stock Valuation Indicators of the Market and Capital Highlights-IR section of this website.

 

6.4     What is an ADR (American Depositary Receipts) Level 1 Program and why did BDO establish this?

An ADR is a negotiable US dollar-denominated certificate representing ownership of shares in a non-US company. In a Level 1 ADR program, the ADRs are not listed on a US stock exchange, but are traded in the US Over-the-Counter (OTC) market.

BDO launched its sponsored Level 1 ADR Program on 18 April 2013 to provide flexibility for U.S. investors to trade common shares in their time zone and settle their transactions locally. As well, the program intends to tap the pool of U.S. ADR investors, enhance the Bank’s visibility and global presence, and diversify and broaden the Bank’s shareholder base.

For more details about the Bank’s ADR program as well as trading information, please refer to the separate BDO ADR FAQ tab and to the Stock and ADR Information under Investment and Credit Ratings Information of the IR section of the website.

 

6.5    Why did the Bank terminate its Global Depositary Receipts (GDR) Program?

The Bank established its GDR Program to provide an alternative vehicle for foreign investors to invest in BDO shares. GDRs representing BDO shares (with each GDR representing twenty Ordinary BDO shares, i.e., 1:20 ratio) were listed at the London Stock Exchange (LSE) beginning 26 January 2006, with The Bank of New York Mellon (BNY Mellon) serving as Depositary Bank.

Given the low trading activity for GDRs as well as the increase in float levels since 2006 when the program was established, BDO decided to terminate the GDR program. BNY Mellon, as Depositary, subsequently received a Notice of Termination from BDO to terminate the GDR facility effective 13 May 2013.

With the termination of the program, BNY Mellon sold all remaining deposited securities representing the outstanding GDRs of BDO. On 18 June 2013, the remaining GDR holders were mandated to surrender their GDRs to BNY Mellon for cancellation and exchange in order to receive the cash proceeds from the sale of the deposited securities as follows:

Gross Rate per Depositary Share :   USD 44.899278

Cancellation Fee                              :    USD   0.050000

Net Rate per Depositary Share     :    USD 44.849280

The cash distribution by BNY Mellon to the remaining DR holders effectively completed the DR termination process. Subsequently, the GDRs were delisted from the London Stock Exchange.

 

6.6    What are the types of shares issued by BDO and what are their basic features?

BDO’s capital stock is composed of common and preferred shares, both having a par value of P10.

BDO common shares have voting rights and participate in dividends. The Bank’s Series A preferred shares, on the other hand, are perpetual, voting, non-cumulative, and non-participating.  The Bank’s preferred shares currently stand at 515,000,000 to include the additional issuance of 15,000,000 new Series A preferred shares following the 3% stock dividend payout in June 2012.

Holders of capital stock whether common or preferred, have no pre-emptive right to subscribe for or purchase any shares of any class.

For additional details on the features of the Bank’s preferred shares, please refer to Note 21.2 of the 2019 Audited Financial Statements under Financial Reports of the Company Disclosures section of this website.  

 

6.7    How much is BDO’s authorized capital stock?  Of the authorized number of shares, how many are issued and outstanding?

BDO’s authorized capital stock is composed of 5.5 billion shares of common stock and 1 billion shares of preferred stock.

At its regular meeting on 7 January 2017, the Board of Directors approved the conversion of 1,000,000,000 unissued preferred shares of BDO, consisting of 500,000,000 unissued Series A Preferred Shares and 500,000,000 unissued ordinary Preferred Shares into 1,000,000,000 common shares. The corresponding amendment to the Seventh Article of the Bank’s Articles of Incorporation to reflect the said conversion was approved during the Bank’s Annual Stockholders’ Meeting on 20 April 2017. The conversion of the shares was approved by the BSP on 22 Dec 2017 and by the Securities and Exchange Commission on 26 February 2018.

For additional details on the Bank’s authorized capital stock and newly-issued common shares, please refer to Company Disclosures and Capital and Funding History Details (under Investment and Credit Ratings Information) of the IR section of this website.

 

6.8    How do I invest in BDO shares of stock?

If you wish to buy BDO common shares, you must have a stockbroker who can execute this for you. A stockbroker is a person or a corporation authorized and licensed by the Securities and Exchange Commission (SEC) and Philippine Stock Exchange (PSE) to trade securities.

BDO Securities Corporation (BDO Securities), a wholly-owned full-service brokerage subsidiary of the Bank, has an expanded suite of products beyond equities to include, but not limited to, fixed income securities and investment funds, both local and global.

BDO Securities has a pool of experienced traders who can assist you with stock trading and execute stock transactions on your behalf.  They can be reached through the following contact details:

Address:       33/F BDO Towers Valero
                      8741 Paseo de Roxas
                      Salcedo Village
                      1226 Makati City

Tel.:              (+632) 8878-4155; 8878-4125

Alternatively, if you are familiar with the mechanics of stock market investing, you may enroll in BDO Securities’ online trading platform. This requires opening a BDO account which will serve as your settlement account. For more details, please access the link:

https://www.bdo.com.ph/securities/about-us

 

6.9    What happens to BDO Nomura and its clients following the Bank’s completion of the buyout of the stake previously held by Nomura?

On 26 November 2020, BDO disclosed the completion of the buyout of Nomura Holdings. Inc.’s (Nomura) ownership in BDO Nomura Securities, Inc. (BDO Nomura) following an announcement on 23 June 2020 terminating their joint venture arrangement. BDO Capital & Investment Corporation (BDO Capital), a wholly-owned subsidiary of BDO, acquired Nomura’s 49% stake in BDO Nomura.

Effective 1 December 2020, BDO Nomura was merged with BDO Securities Corp. (BDO Securities), with the latter as the surviving entity.

BDO Nomura account holders were absorbed by BDO Securities, allowing them to continue managing their accounts (which remain as is) and doing online stock trading.

Further, BDO Securities has retained most of the convenient features of online stock trading, including:

a)     Fast online account opening – 5 steps in 5 minutes (or less!), and approval within 24 hours

b)     Real-time account funding and withdrawals, allowing you to start trading as soon as your account is set up

c)     Exclusive access to market research to help you plan, strategize, and execute your trade and investment decision

BDO Nomura clients should take note of a few changes on how they can access BDO Securities for more information and support:

Visit us or log in using new website address:

www.bdo.com.ph/securities

Email our Customer Support officers using this new address:

bdosec-customercare@bdo.com.ph

 

6.10    Who do I contact for inquiries on dividend payments, account status, address changes, stock certificates and other pertinent matters about my shareholding?

If you are holding on to stock certificates, inquiries relating to your shareholding should be directed to the Bank’s stock transfer agent, Stock Transfer Service, Inc. (STSI) with the following contact details:

Address:      34th Floor, Unit D, Rufino Pacific Tower

                      6784 Ayala Avenue, Makati City

Tel.:               (+632) 8403-2410; 8403-2412

Fax:               (+632) 8403-2414

If your shares are lodged with a local broker, then any inquiries should be addressed to the broker where your shares are lodged.

 

6.11     What happens to stock certificates issued under the name “Banco De Oro Unibank, Inc.” Will these still be honored by the Bank?

The change in name notwithstanding (please refer to 1.4 under Corporate Information above), BDO’s corporate entity remains the same. Thus, it will not be replacing its already issued stock certificates and will continue to honor stock certificates validly issued under the name “Banco De Oro Unibank, Inc.”.   
 

Investor Relations (IR) Matters

7.1 Does the Bank have an IR Program?

Yes, the Bank has an IR Program, the details of which are available in the IR section of this website and on pages 131 to 132 (under the topic “Investors”) of the Definitive Information Statement (DIS) which can be accessed below:

https://www.bdo.com.ph/sites/default/files/pdf/ASM-2021-Information-Statement.pdf

 

7.2 Where can I find a schedule of IR events?

The IR Calendar of Events is found under Investment and Credit Ratings Information of the IR section of this website.

 

7.3 Does the Bank hold analysts’ briefings on its earnings results?

Yes, the Bank holds analysts’ briefings on its earnings results. These are posted in the IR section and may accessed through the BDO Unibank YouTube channel (link below):

https://www.youtube.com/user/BDOPhilippines

 

7.4 Is the Bank’s Investor Presentation available online?

Yes, the Bank’s Investor Presentation may be accessed online. This is found under Investor Presentations of the IR section of this website.

 

7.5 Are there credit ratings agencies and stock brokerages that cover BDO?

Yes, major credit ratings agencies and stock brokerages cover BDO. A list of these may be found under Research Coverage List of the Investment and Credit Ratings Information-IR section of this website.

 
P60.0 Billion (USD1.2 Billion) Stock Rights Offer (January 2017)

8.1   What was the impact of the Rights Offer on BDO?

BDO raised a total of P60.0 billion (equivalent to USD1.2 billion) in a 1:5.095 stock rights offer completed in January 2017, considered as the largest equity capital markets transaction by a Philippine corporate entity to-date and surpassing the Bank’s earlier P43.5 billion SRO in 2012.

This will allow the Bank to support its medium-term targets and provide a comfortable buffer over higher minimum capital requirements with the staggered implementation of the Domestic Systemically Important Bank (DSIB) surcharge.

 

8.2    Why did the Bank raise capital through a rights offer?

A rights offer is one of the important sources of new equity funding for publicly listed companies. It involves the issuance of new shares for cash to existing shareholders, in proportion to their existing holdings.

Further, a rights offer is the most equitable form of capital raising as it allows all shareholders to proportionately participate in the Bank’s capital raising program.

The 1:5.095 BDO rights offer entitled each eligible stockholder to subscribe to one (1) common share for every 5.095 common shares held as of Record Date of 10 January 2017 at an offer price of P83.75 per Rights Share. The offer price was computed based on the 15-trading day volume-weighted average price (“VWAP”) of the Bank’s common shares listed on the PSE, at a discount of 23.4%. A total 716,402,886 of Rights Shares were issued pursuant to the offer price and were listed on the Philippine Stock Exchange (PSE) on 31 January 2017.

 

8.3    Were there other times when BDO raised capital?

Yes, the Bank raised capital through its IPO (initial public offering) in 2002, through a private placement in 2010, and through a 1:3 SRO in 2012.

For details on the Bank’s capital and funding history, please refer to Capital and Funding History under Investment and Credit Ratings Information - IR section of this website. 
 

Equitable PCI Bank (EPCIB) Stock Certificates

9.1    What happened to EPCIB stocks following the BDO-EPCIB merger in May 2007?

The merger resulted in the conversion of 1 common share of EPCI to 1.8 BDO common shares.

 

9.2    What happened to old EPCIB stock certificates following the BDO-EPCIB merger in May 2007?

All old EPCIB certificates should have been replaced with new BDO certificates upon presentation of the following requirements:

a)  Old EPCIB stock certificates (not necessarily endorsed)

b)  Photocopy of 2 valid IDs of the shareholder on record or authorized representative

c)  In addition to a) and b) above, authorized representatives are required to present their representatives IDs and an original authorization letter signed by the shareholder on record.

You may contact BDO’s stock transfer agent, Stock Transfer Service, Inc. (STSI) to assist you on this.  Please refer to the contact details of our stock transfer agent provided in the earlier section on Shareholder Information.

 

9.3    What should be done if there were a resulting fractional share of EPCIB stock upon conversion to BDO shares given a 1:1.8 exchange ratio?

Any resulting fractional share should have been paid via check payable to the shareholder on record at the rate of P44.80 per 1 full share.  Checks would have been released together with the new BDO certificates.