BDO Network Bank Report
Introduction
BDO Network Bank, previously known as One Network Bank, is a subsidiary of BDO Unibank,
Inc. Established in 2004, it was formed through the consolidation of Network Rural Bank of
Davao del Sur, the Rural bank of Panabo of Davao del Norte, and the Provident Rural Bank of
Cotabato. The bank’s primary aim is to provide banking services to unbanked and underserved
areas in the Philippines. It is the largest rural bank in the Philippines in terms of assets, with a
network of 96 branches and 135 ATMs throughout the provinces in Mindanao, including 17
localities where it is the sole provider of financial services.
Key Milestones
BDO Network Bank has achieved several key milestones. It was the first rural bank in the
Philippines to establish a checking account with the Philippines Clearing House Corporation
(PCHC) and to have its cheques cleared directly by the PCHC, instead of an intermediary bank.
It is also an equity member of Megalink (now a BancNet member), one of the first banks in
Mindanao to join an interbank network. In December 2014, the bank was acquired by Banco de
Oro and the acquisition was completed in July 2015. On August 6, 2019, BDO One Network
Bank changed its name to BDO Network Bank, to align with the continued expansion of its
parent company Banco de Oro (BDO Unibank).
Mission and Vision
The bank’s mission is to be the leading community bank in the Philippines, through a wide and
deep presence in progressive communities that are unserved or underserved. Its vision is to be
the pre-eminent Community Bank helping unbanked & underserved communities across the
Philippines.
Board of Directors
The board of directors includes Jesus Antonio S. Itchon, Ramon T. Militar, and Nestor V. Tan.
Itchon is the Executive Vice President, President/Director of One Network Bank, Inc. (A rural
Bank of BDO) of BDO Unibank since 2017. Militar is the Senior Vice President, Officer-in-
charge of One Network Bank, Inc. (a rural bank of BDO Unibank, Inc.) since August 27, 2016.
Tan serves as the chairman of One Network Bank and is also the Chief Executive Officer,
President and Director of the BDO Unibank.
Services
BDO Network Bank is a community bank that aims to promote financial inclusion by offering
products and services that are custom-made to the needs of communities, especially to the
unserved and underserved areas in the Philippines. It reaches out to customers even in rural areas
where banks and other financial institutions are not available. The bank offers a range of services
from savings and checking accounts to time deposit products to loans.
Financial Statements
The bank’s financial statements include the Statement of Financial Position (Balance Sheet),
Statement of Income, Statement of Comprehensive Income, Statement of Changes in Owners
Equity, and Statement of Cash Flows.
Conclusion
BDO Unibank’s financial statements for the fiscal year 2023 reflect a strong and resilient
performance amidst a challenging economic landscape. The bank’s prudent risk management
practices and diversified revenue streams have contributed to its ability to navigate market
uncertainties effectively. Additionally, BDO’s commitment to innovation and digital
transformation has strengthened its competitiveness and positioned it well for future growth
opportunities. The financial statements underscore BDO Unibank’s solid foundation and strategic
focus, instilling confidence in its stakeholders and reaffirming its role as a key driver of the
country’s banking sector.
