2010 BDO Annual Report

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We find ways Sustaining the Momentum Message from the President Let me start by saying that your Bank had a good year in 2010 and remained on track with its long-term plans post merger. Admittedly, though, those long-term strategies were in some way sidetracked in 2008 as a result of the global financial crunch. That is now behind us and, at this point, we are in a very strong position to move forward. Your BDO today has the foundations to perform well in the industry. It has a strong franchise and is considered a leader in a number of business lines. It is now ranked 1st in terms of resources, assets under management, deposits, customer loans and capital. In addition to its traditional large and middle market corporate business, BDO’s consumer business is now among the best in the industry anchored on a strong branch network, a robust consumer lending franchise and an industry-leading remittance business. Earnings quality is high with close to 90 percent of income coming from recurring and sustainable sources. The Bank’s financial position remains very strong, with conservatively valued assets and a more than adequate capital base. In addition, we have taken steps to account for another possible economic challenge like we have seen in the 1997 Asian crisis and the 2008 global setback. The challenge going forward for us is to sustain our momentum and to guard against complacency. 6
2010 Annual Report Looking ahead, 2011 may present uncertainties as we face a rising interest rate environment and concerns in the political and economic arena worldwide. Nevertheless, I believe BDO will continue to outperform industry expectations and achieve above average growth in net profit. While we are making major strides in performance, we remain a work in progress. I would like to thank you for your continued support and commitment. I also would like to take this opportunity to thank our board of directors, officers and staff, and loyal clients for their support in getting BDO to where it is now. NESTOR V. TAN 7
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2010 BDO Annual Report

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