By Ted P. Torres
Manila, Philippines – Sy-owned Banco De Oro Unibank Inc. (BDO) said it expects its net income to reach P10.5 billion in 2011, 19 percent higher than the P8.8-billion recorded in 2010.
In a presentation yesterday, BDO president and chief executive officer Nestor V. Tan said they expect to meet this target through sustained growth in net interest income.
“Our expectations for 2011 is characterized by moderate loan growth, strong growth in deposits that will feed our loans, sustained growth in fee-based income, and normalized provisioning levels,” he said.
He likewise stressed that the bank is optimistic about strong growth this year since BDO does not rely heavily on non-interest earnings such as securities or foreign currency trading. Eighty-six percent of its operating income come from recurring sources.
Loan growth is forecast to be modest, though Tan said he expects the consumer sector to banner lending.
“Consumer is still the growth sector, including the middle market, and the large corporate sector in both project financing and working capital. Ideally, we would like almost equal share of each sector,” the bank executive said.
Gross customer loans last year expanded to P541.5 billion with firm growth across all business segments.
He said in the first quarter, trading gains were boosted by the sale of Lehman Brothers bonds it wrote off after the US investment bank collapsed in the global financial crisis.
Trading gains rose 44 percent to P1.8 billion in the first quarter, the bank said earlier this month. The bank also converted an exposure to Atlas Consolidated Mining Co., Tan said.
“We held it (the Lehman bonds), it was zero in our balance sheet, we waited for the price to go up, and at the right price we unloaded it,” Tan said. “We probably recovered a portion” of the Lehman investment.
“It’s not your usual portfolio trading from interest rates.”
Meanwhile, BDO said that the just-approved P15-billion Tier 2 debt issue would be used for general corporate purposes, funding for medium term growth and other opportunities.
The bank also raised $250 million last year to build a buffer for anticipated Basel II capital requirements. Of the total amount, $150 million came from the sale of shares to the International Finance Corp. (IFC) and the IFC Capitalization Fund, a joint effort of the Japan International Cooperation Agency (JICA) and the IFC. The other $100 million came from Asian institutional investors.
Funds were also required for the impending acquisition of Export and Industry Bank (EIB), which has remained unresolved.
Tan said that despite the approval by the Philippine Deposit Insurance Corp. (PDIC), there are still “details” needed to be included in the sale package.
“In the case of EIB, its not a question of ‘if’ but on the final outlook of the balance sheet,” he said.
Last year, BDO became the first domestic bank to report total resources worth over P1-trillion. In the same period, its return on equity zoomed to 11.7 percent and capital adequacy ratio (CAR) of 14 percent.
It is operating 725 domestic branches, 20 international branches and 1,430 automated teller machines (ATMs).

Source: http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=690433

Generally regarded as the best hotel in the North near Manila as well as the top beach resort in Clark, Clearwater maintains a consistent standard with respect to products and services. This hotel in Pampanga may not be a 5-star resort but visitors from Manila going to Angeles City and Clark Freeport regard Clearwater as the number one location for family outings as well as the best event venue for company outings, weddings and other events.

Comparison of crime rates between Philippines Angeles City and Clark Pampanga sheds light on the difference between the twin cities of Pampanga. Regular guests of Angeles City Hotels begin to migrate on base into hotels inside Clark Philippines not only for peace and quiet but peace of mind and a sense of safety and security.

The beach resorts, leisure parks and vacation hotels in Clark Pampanga offer a unique ambience that supports a laidback relaxing lifestyle. Many visitors travel north to Clark Pampanga from Manila to unwind and relax in these resorts.

To many visitors from Manila, a good hotel in Pampanga must be located in a city that is safe, clean and not so noisy. This hotel in Clark Philippines really fits those criteria. The location is convenient for visitors to go out of town from Manila in a short getaway with family and friends traveling north to Angeles City Clark Pampanga. Traffic along the North Expressway NLEX is always light and the new Subic Tarlac Clark Expressway ScTex takes visitors straight into Clark Freeport without going through any towns and cities along the way.

Guests enjoy spending time relaxing at Frolic Garden of this hotel in Clark Pampanga. There is a special feeling in this hotel in Clark Philippines makes you slow down and enjoy the ambience. Children like playing in the Family Cove of this Clark resort hotel. Hotel guests prefer Clark over Angeles City, Subic or hotel in Manila. This hotel in Clark Philippines has style and character. Guests often come back again to relax and enjoy the beautiful ambience of this hotel in Clark Pampanga.

To inquire with the beach resort hotel in Clark Pampanga visit http://www.ClearwaterPhililippines.com

Hotel Clark Philippines
Creekside Road corner of Centennial Road,
Central Business District, Clark Freeport Zone,
Pampanga, Philippines 2023

Tel: (045)599-5949 0917-520-4403 0922-870-5177

Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay

http://www.HotelClarkPhilippines.com

Email: Info@ClarkPhilippines.com

Getting to this hotel in Clark Philippines
After entering Clark Freeport from Subic, Manila, Dau and Angeles City, proceed straight along Clark’s main highway MA Roxas, passing Clark’s largest wine shop called Clark Wine Center on your right, continue to bear right making no turns at all, go past Mimosa Leisure Estate on the opposite side of the road, you will hit a major intersection. Go straight and the road becomes Creekside Road. YATS Clearwater Resort and Country Club is on your right just 200m down. Traffic in Clark Philippines is light so it should be quite easy for get to this hotel in Clark Philippines.

YATS Leisure Philippines is a HK-based developer and operator of clubs, resorts and high-class restaurants and wine outlets http://www.YatsLeisure.com

To inquire with the beach resort hotel in Clark Pampanga visit http://www.ClearwaterPhililippines.com