BDO posts P28.2 billion net income in 2020

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BDO Unibank, Inc. (BDO) posted a net income of P28.2 billion in 2020 from P44.2 billion in 2019, due mainly to pre-emptive provisions of P30.2 billion set aside against potential delinquencies from the pandemic. The Bank relied on its strong and resilient business franchise and balance sheet to support core business operations, despite significant hurdles from the pandemic and ensuing economic lockdown. 

Net interest income (NII) grew by 12 percent to P133.7 billion.  Loans managed to grow 3 per cent to P2.3 trillion driven by consumer and corporate accounts.  The Bank continued to assist its borrowing clients, ensuring their uninterrupted access to credit facilities, in addition to granting loan moratoria under Bayanihan I and II.  

CASA deposits continued to climb, growing 17 percent to P2.1 trillion, as clients were able to access BDO products and services through its branches, ATMs and digital channels even during quarantine restrictions.  

Non-interest income declined 8 percent and settled at P55.2 billion, supported by fee-based income, trading gains and insurance premiums.  Business volumes were initially impacted by mobility restrictions, but have since begun to recover gradually.  Wealth management, on the other hand, remained resilient with trust volumes and fees sustaining growth.  Trading gains increased as the Bank capitalized on favorable market conditions while insurance premiums grew modestly despite the initial impact of the lockdowns.

Operating expenses decreased 2 percent to P112.6 billion due to a reduction in marketing and volume-related expenses.

The Bank’s provisions of P30.2 billion were in line with prudent credit and provisioning policies, meant to further strengthen its balance sheet.  The NPL ratio stood at 2.65 percent with NPL coverage at 109.5 percent. As of yearend, the Bank’s total Loan Loss Reserves were equivalent to 3 percent of Gross Customer Loans, and are considered more than sufficient to cover for potential losses.

The Bank’s capital base expanded to P393 billion with its Capital Adequacy Ratio (CAR) and Common Equity Tier 1 (CET1) at 14.4 percent and 13.2 percent, respectively, comfortably above minimum regulatory levels.   The Bank’s capital increased by 6% despite the pre-emptive provisions and the business impact of COVID-19. Book value per share likewise increased 6% to P88.11 from P83.03 in 2019.

BDO remains cautiously optimistic on a gradual upturn in 2021. With its extensive market reach and devoted workforce, the Bank remains committed to providing banking products and services attuned to its customers needs. These include digital upgrades that allow easier and safer access to services, such as QR code-based ATM and merchant transactions. These are part of the benefits expected from its ongoing Next Generation IT upgrade. 

 

About BDO

BDO is a full-service universal bank that provides a wide range of corporate and retail banking services.  These services include traditional loan and deposit products, as well as treasury, trust banking, investment banking, private banking, rural banking, cash management, leasing and finance, remittance, insurance, retail cash cards and credit card services.  

BDO has the country’s largest distribution network, with over 1,400 consolidated operating branches and more than 4,400 ATMs nationwide.  It also has 18 overseas remittance and representative offices (including full-service branches in Hong Kong and Singapore) in Asia, Europe, North America and the Middle East.

BDO ranked as the largest bank in terms of total assets, loans, deposits and trust funds under management based on published statements of condition as of December 31, 2020. For more information, please visit www.bdo.com.ph.

Communities are better prepared to combat OSEC, Child labor trafficking

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The cities of Cebu, Mandaue, Lapu-Lapu, Taguig and the municipality of Cordova are now better equipped to fight Online Sexual Exploitation of Children (OSEC) and Child Labor Trafficking (CLT) as a result of World Vision’s work in these cities under the Child Protection Compact (CPC) Partnership.

The CPC Partnership is a multi-year plan developed between the U.S. Department of State and the Philippines Department of Justice's Inter-agency Council Against Trafficking (IACAT), demonstrating the shared commitment of the two governments to strengthen efforts to prosecute and convict child traffickers, provide comprehensive, trauma-informed care for victims of child trafficking crimes, and improve existing community-based mechanisms to prevent and combat OSEC and CLT cases in the Philippines.

Implementation of objectives and activities under this CPC partnership is carried out by non-governmental organizations focused on anti-trafficking efforts, including International Justice Mission and its sub-recipient, World Vision.

“Helping keep children safe from any form of harm and abuse is a mission which partnerships can do so well. As we conclude the Child Protection Compact Project, allow me to thank our partner organizations and governments. May our achievements today continue to inspire more people in the future to positively impact the lives of vulnerable children,” shares World Vision Philippines National Director, Rommel V. Fuerte.

World Vision’s focus is on strengthening existing community-based systems and services meant for the protection and recovery of children affected by OSEC and CLT, and preventing these crimes.

For over four years of implementation, local government units in the barangay level reactivated their Barangay Child Protection Council with integration of anti OSEC and CLT advocacies. Community groups and key individuals such as faith-based organizations, care groups, students, and government officials became empowered and are now the guardians in their respective communities. A guidebook was also formulated for both duty bearers and CLT survivors. Academic institutions, especially the University of San Carlos and the University of the Southern Philippines, joined World Vision in its work, extending the reach of the program. Local government units also changed some of its existing programs based on World Vision's research-based recommendations.

“Partnerships are essential to ensure that all the hard work in protecting the most vulnerable children continues after a program concludes. We are extremely grateful for the opportunity to work with World Vision under the Child Protection Compact. I am confident that the seeds we’ve planted together, all the successes we share, will continue to bear fruit,” says Atty. Samson Inocencio, Regional Vice President of the IJM Global Hub Against Online Sexual Exploitation of Children and National Director of IJM Philippines.

A youth advocate of anti-OSEC and CLT campaigns

Angel, a 17-year-old student, is empowered and became a champion of anti-OSEC and CLT campaigns. She was part of the many capacity-building workshops of World Vision in 2019 and became an advocate ever since.

“Youth empowerment is the key to fight CLT and OSEC. When they are informed and empowered, they have a better chance to protect themselves from abuse and exploitation,” Angel expressed.

A celebration highlighting World Vision's work was held virtually and it was participated by around 750 participants who are part of the project. The celebration was also streamed live on Facebook.

Boost your Beauty Routine with Top Skincare, Makeup, and More from the Shopee 3.3 Mega Beauty Sale

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Enjoy up to 90% off on face masks, palettes, and moisturizers this February 28

We all love our holy grail skincare and makeup products, but incorporating a little change to your regimen can give you something new to look forward to. A new face mask, for instance, can give you that extra squeaky clean feeling for your weekend pamper sesh. Meanwhile, a new highlighter can elevate your daily makeup look. 

Switch things up and treat yourself to a beauty haul this weekend without hurting your wallet! The Shopee 3.3 Mega Beauty Sale offers discounts up to 90% off this February 28.  

Looking for new products to add to your beauty routine? Check out these must-haves from Shopee’s first mega sale of the year:

Make your skin glow with these highly-rated skincare products

The Body Shop Himalayan Charcoal Mask

Start off your skincare routine with a deep cleanse. The Body Shop Himalayan Charcoal Purifying Glow Mask is formulated with bamboo charcoal, green tea leaves, and organic tea tree oil. Use at least once a week to remove oil and dirt buildup from your pores. 

Paula’s Choice BHA

Next, target your breakouts by giving Paula's Choice Skin Perfecting BHA Liquid Exfoliator a try. This product removes sebum and dead skin cells clogging pores. Its mild, fragrance-free formula is perfect for sensitive skin. 

The Ordinary Niacinamide

Treat all your post-breakout dark spots with The Ordinary Niacinamide 10% + Zinc 1%. This cult-favorite serum brightens the skin tone and reduces sebum production. Apply during your morning and evening skincare routines for the best results.

Olay Regenerist Duo

Keep aging at bay with Olay’s Regenerist Power Duo. The Micro-Sculpting Cream keeps skin plump and firm, while White Radiance Essence reduces dark spots and evens out the skin tone.

Belo Tinted Sunscreen

Lock all your skincare products in with a tinted sunscreen. Belo SunExpert Tinted Sunscreen offers SPF 50 PA++++ broad-spectrum protection against harmful UV rays. It’s also non-comedogenic, hypoallergenic, and dermatologically tested, so it’s perfect for everyday use.

Enhance your natural beauty with products makeup artists love

Teviant Face Palette

Begin your makeup routine with the Teviant Face Palette in Deity Dust. Each palette contains highlighters, contour, and cheek and lip powders. The product melts seamlessly onto the skin, leaving a velvety finish.

Essence Duo Highlighter

Add a little sparkle with the Essence Good Vibes Good Memories Duo Highlighter, which combines peach and pink shades to mimic a natural glow. Lightly dust the highlighter onto your cheeks, brow bone, and nose.

Perfect Diary Loose Powder

Finally, remove any excess shine with Perfect Diary PerfectStay Loose Powder. This weightless and translucent powder locks in concealer and foundation for a flawless finish. Its silky, non-drying formula won’t cake your makeup!

Elevate your self-care ritual with these tried-and-tested bath and body essentials

Garnier Body Lotion

Body skincare is equally important. Garnier Light Complete Body Lotion is enriched with lemon essence to brighten your complexion and strengthen your skin’s protective barrier. It’s hydrating but non-sticky. 

Cream Silk Conditioner

Tame your rebellious tresses with Cream Silk Triple Keratin Rescue Ultimate Straight Conditioner. This product contains keratin to smooth frizz, revive damaged strands, and bring life back to your hair.

Buy these products and more at Shopee’s 3.3 Mega Beauty Sale this February 28 and enjoy discounts up to 90% off. Don’t forget to top up and use ShopeePay to enjoy additional perks! 

For more information on the best deals during the 3.3-4.4 Mega Shopping Sale, Shopee’s first mega sale of the year, visit https://shopee.ph/m/3-3. 

Download the Shopee app for free via the App Store or Google Play.

Here’s the newest meat alternative that looks, tastes and is priced like real meat! Meet unMEAT, the 100% plant-based meat

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It’s a generally accepted notion that eating healthy means skipping great-tasting food. 

Not anymore. Now it’s completely possible to enjoy the best of both worlds as Century Pacific Food Inc. (CNPF), one of the largest branded food companies in the Philippines, unveils its newest brand: unMEAT, a 100% plant-based meat, made tasty from simple ingredients.

“One of the biggest concerns about plant-based foods is that they are not delicious or as pleasing to the palate as real meat,” notes Nikki Dizon, a Senior Executive at CNPF. “But our Nutrition Science team took that as a challenge and completely delivered by coming up with a meat alternative that unbelievably and undeniably looks, feels, and tastes like meat. Moreover, they made unMEAT using simple ingredients and extracted the nutrients from real food rather than synthetic compounds so it’s healthier and more affordable”

The launch of unMEAT was driven by growing consumer demand to incorporate healthier food options into their diet, especially given the ongoing pandemic. This is evident in the shift of food trends on social media. Whereas in the past, food aficionados across the globe constantly debated on the best burgers, social media is now filled with discussions on which plant-based burger looks, tastes, smells, and even bleeds like real meat. 

With unMEAT, taste is never compromised! It is as delicious as a regular meat patty, with a similar mouth-feel, making it the best meat alternative for those who are planning to make the switch to a healthier, more sustainable diet. Even better, unMEAT is packed with simple but nutritious ingredients. It is a good source of fiber and protein. It’s also cholesterol-free, trans fat-free, egg-free, and dairy-free.

During the launch, Michelin star chef Sau del Rosario who was among the first to sample unMEAT, described it as “the taste is like you got it from the oven. It’s tasty, it’s clean, and it’s very delicious. I would put this in my menu!”

It comes in four variants:  Nuggets, Hungarian Sausages, Minced Meat and Burger Patty. CNPF aims to market the range as close to the price of real meat counterparts in keeping with its goal of providing affordable nutrition.

In The Philippines, unMEAT was first introduced through Shakey’s Pizza’s newest offering, the Goood Burger. It has since attracted a small cult following in the few weeks it has top-billed Shakey’s Pizza chain’s foray to burgers.  

Now, as the plant-based food mania continues to sweep the world over, Century Pacific Food Inc., is giving consumers easy access to healthy and tasty 100% plant-based food options as unMEAT is now available via online shopping platforms, and increasingly in supermarkets and specialty stores nationwide.

Following unMEAT’s successful initial rollout as Shakey’s Goood Burger, CNFP will also be partnering with more restaurants in the country. Additionally, the company’s Global Brands Team has started offering the product to customers across a network of 80 countries such as the USA, Singapore, China, and the Middle East giving consumers in many parts of the world easy access to tasty, healthy, and affordable 100% plant-based meat alternative.

“This newest addition to our product portfolio further strengthens our company’s mission to provide affordable nutrition for all. UnMEAT is both very affordable and delicious!” added Dizon.

Now it’s possible to be healthy while enjoying what you eat with the 100% plant-based unMEAT.

To know more, follow on Facebook (facebook.com/UnMeatPH) and Instagram (https://www.instagram.com/unMeat.ph/)

 

 

 

 

DOT lauds Bohol's celebration of the annual Ubi Festival

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The Department of Tourism (DOT) lauds the Provincial Government of Bohol's efforts in setting up this year's annual Ubi Festival under the new normal.

Running until February 24, the festival, which has been celebrated since year 2000, is proof of the Boholanos’ love for Ubi or purple yam. The root crop was revered as a “savior crop” as its discovery led to the alleviation of hunger in the province during pre-Hispanic times. Now, it has become a staple food for Boholanos because of its taste, long shelf-life, and the many food varieties that can be made from it.

As the largest producer of ubi in the country, Bohol is home to many ubi farmers who turn to the root crop for their livelihood. With this year's theme, “Pagpananum ug Ubi Napuslan, Kagutom Na Dala Sa Covid19 Nabatukan,” the festival aims to celebrate the root crop that has become an agro-historical-geographical-religious symbol for the province and highlight the impact and contributions of ubi farmers.

Photo from the Office of the Provincial Agriculturist - Bohol

As part of the festival, a showcase of a variety of Ubi products like ube jams and ube-based bibingka, ice cream, and bread can be found at the Old City Airport in Tagbilaran City. The venue strictly implements health and safety protocols to assure festival-goers of an easy and memorable experience. Other cultural activities, exhibits, and seminars are also held to honor the root crop this month.

From festivals, gorgeous sights, and fun-filled activities, there’s definitely a Bohol destination for everyone. While it is famous for the Chocolate Hills, Bohol also offers other attractions that families, groups, and even solo travelers can enjoy.

Scenic views and ecotourism sites

Photo courtesy of Paul Gotiong

When one speaks of Bohol, the Chocolate Hills cannot be left out. These 1,776 individual hills spread across six towns have attracted tourists from many generations for their uniqueness and vastness. The Philippine Tarsier Sanctuary, a place dedicated to saving the lives of endangered tarsiers, is also open for those who want to learn more about these small nocturnal primates.

 

Action-packed activities

Photo courtesy of Nataniel Luperte

Bohol also has something for adrenaline junkies. If you prefer seeing the Chocolate Hills up close, ATV rentals are available in the Carmen area. Those who want more action-packed activities can head to the Loboc Ecotourism Adventure Park for zipline and cable car rides. If you prefer water activities, you can also opt for stand-up paddle boarding tours or experience a water bike adventure.

 

White-sand beaches

Bohol is also known for its white-sand beaches and clear waters. The Alona beach is a stunning 1.5km stretch of white-sand beach famous for being a must-visit spot for those who love snorkeling, scuba diving, or even those who just like to relax and watch the sunset. Travelers can also island-hop to Balicasag and Virgin islands to explore Bohol’s marine life. If you’re lucky, you might even get a glimpse of dolphins in the area.

 

Variety of accommodations

Tourism comprises 70% of the livelihood in Bohol, so there is no wonder that several hotels and resorts are available in the area. Whether you choose accommodations in the municipality of Panglao or Dauis, these hotels are committed to providing top-notch service and hospitality, especially during these times. Temperature checks, QR code scanning, plated meals, and rearranged eating areas are just some of the adjustments made by accommodations to ensure that travelers are assured of a safe environment during their stay.

Hassle-free travel

Do-it-yourself travels are currently not allowed in Bohol. This means that everything you plan to do while on the island should be pre-booked--from accommodations and transportation to tour arrangements. This makes sightseeing around the island hassle-free. This also makes it easier for the provincial government to implement systems to curb the virus’s spread while ensuring that tourists get to fully enjoy the island’s beauty.

Before planning a visit to Bohol, travelers must have a negative RT-PCR test taken 72 hours before their arrival, pre-booked accommodations at a DOT/LGU-accredited establishment, travel itinerary, and registration in the Province of Bohol website at tourism.bohol.gov.ph for the issuance of personal QR codes that will serve as electronic IDs.

Tourists coming from Metro Manila are encouraged to apply for the subsidized RT-PCR test at the UP-Philippine General or Philippine Children's Medical Center for as low as PHP900 and PHP750, respectively. To avail of the 50% discount from either of the two medical institutions, visit the Tourism Promotions Board website at www.tpb.gov.ph/rtpcrphtravel.

As of February 2, 2021, Bohol allows the use of saliva RT-PCR tests in place of nasal and throat swabs.

For up-to-date information on open destinations and the safety protocols and requirements needed for each location, you may visit www.philippines.travel/safetrip or download the Travel Philippines app at app.philippines.travel or the Google Playstore.

For more information on traveling to Bohol, contact the Department of Tourism or visit philippines.travel/safetrip/bohol.