43-505: St. Francis Square is a 1.30-hectare (3.2-acre) mixed-use commercial complex located in Ortigas Center , Mandaluyong , Philippines. Groundbreaking and construction of the complex began in 1998 and was completed in 2000. Due to some controversies regarding the St. Francis Square Group of Companies, construction and the finishing of interiors were halted. Construction resumed in 2009 and the building
86-431: A universal bank , which led to the bank's name being changed to the current Banco de Oro Universal Bank (BDO Unibank). BDO Unibank eventually became involved in insurance services in 1997 (it is a bancassurance firm) by establishing a subsidiary called BDO Insurance Brokers. In 1999, BDO Unibank expanded its insurance services through partnerships with Zamora Assurance and Assicurazoni Generali s.p.a. ( Generali ), one of
129-626: A component of the PSE Composite Index for the first time. On January 6, 2006, BDO Unibank, with the SM Group of Companies, submitted to Equitable PCI a merger offer with BDO Unibank as the surviving entity. Under the proposal, BDO Unibank will swap 1.6 of its shares for every 1 Equitable PCI share. As a second option, BDO Unibank also offered to base the swap ratio on the book values of both banks to be assessed by an independent accounting firm using International Accounting Standards (IAS). To effect
172-826: A fully owned subsidiary of BDO Unibank. The main goal the BDO Private Bank is to create market share in the Private banking /Modern Affluent Market segment by penetrating key areas in BDO Unibank's network. This is to complement and explore how the BDO Unibank Group can service all the financial and investment needs of the client. In late April 2005, United Overseas Bank sold 66 out of the 67 branches of its Philippine subsidiary to BDO Unibank after UOB's Philippine subsidiary decided to rationalize its operations from retail to wholesale banking. All UOB branches completed integration into
215-648: Is a central business district located within the joint boundaries of Pasig , Mandaluyong and Quezon City , within the Metro Manila region in the Philippines. With an area of more than 100 hectares (250 acres), it is Metro Manila 's second most important business district after Makati Central Business District . It is governed by Ortigas Center Association, Inc. Ortigas Center is home to many shopping malls , office and condominium skyscrapers , nightlife bars, restaurants and other building complexes. These include
258-581: Is a full-service universal bank . It provides products and services to the retail and corporate markets, including lending (corporate, middle market , SME, and consumer), deposit-taking, foreign exchange , brokering , trust and investments , credit cards , corporate cash management and remittances . Through its subsidiaries, the bank offers leasing and financing, investment banking , private banking , bancassurance, insurance brokerage and stockbrokerage services. BDO's main competitors are major Philippine banks like Metrobank and BPI . BDO Unibank
301-531: Is a partnership with Smart Communications until 2017) to BDO Unibank. it later formally acquired and merged in October of the same year, All 1st e-Bank branches completed integration into the BDO Unibank network, increasing the Bank's number of branches to 177. In August 2003, BDO Unibank. acquired the local banking unit of Banco Santander with its commercial, trust and derivatives licenses to become BDO Private Bank ,
344-625: Is also home to the Banco de Oro main office owned by mall tycoon Henry Sy, Sr. , as is the SM Megamall he owns—one of the largest malls in the nation—along EDSA. Also located near the Ortigas Center is The Medical City , one of the three hospitals in the nation accredited by the Joint Commission on International Accreditation. Ortigas Center is surrounded by Ortigas Avenue to the north, EDSA to
387-422: Is also proximity to nearby Robinsons Cybergate Center . The Asian Development Bank Headquarters, The Edsa Shangri-La, Manila , The One Shangri-La Place Towers , The St. Francis Shangri-La Place The Malayan Plaza, The Discovery Suites, and The BDO Corporate Center are also located here. The eastern portion is part of Pasig and is where most of the Ortigas Center's skyscrapers are located. The whole place
430-580: Is politically known as Barangay San Antonio. It is where most of Pasig's financial resources are primarily concentrated. The barangay of San Antonio has the largest income in Pasig, second only to San Lorenzo Village of Makati as the largest single income-generating government unit in the Philippines. Buildings like The Benpres Building (including the Lopez Museum ), One Corporate Centre , One San Miguel Avenue , Orient Square , Wynsum Corporate Plaza , as well as
473-570: The Ateneo de Manila University is also located within the financial center. Lourdes School of Mandaluyong is among the secondary schools within Ortigas. MFI Polytechnic Institute which caters to technical and vocational courses can also be found in the financial center. Banco de Oro BDO Unibank, Inc ., commonly known as Banco de Oro ( BDO ), is a Philippine banking company based in Mandaluyong ,
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#1732868732087516-597: The Department of Education (Philippines) Central Office and Region IV-B/ Mimaropa Headquarters, The Tektite Towers, houses the former trading floor of the Philippine Stock Exchange , Ayala Malls The 30th , The Octagon (Ortigas Center) and The Capitol Commons are located here. The eastern extension areas of Ortigas Center are Ortigas East located at Barangay Ugong along C-5 Road and Capitol Commons located at Barangay Oranbo. Local and foreign companies serve
559-610: The St. Francis Square , the Asian Development Bank compound, the Oakwood Premier serviced apartments and a Shangri-La hotel. It is also home to the headquarters of San Miguel Corporation , Jollibee Foods Corporation , Viva Communications , Century Pacific Food , and Rebisco . Also present in the area are Philippine offices of prominent engineering firms such as Parsons Brinckerhoff , Sinclair Knight Merz , and WSP Group . It
602-642: The Super Tiangge shopping area which is located in this mall. The mall has a total floor area of 23,100 m (249,000 sq ft) and are separated to the BSA Twin Towers by a massive parking lot that caters to the customers of the mall and nearby establishments. In June 2019, the Super Tiangge area, the second and third levels of the mall, was vacated and closed for conversion as commercial and office space for business process outsourcing and other local companies. Ortigas Center Ortigas Center
645-654: The fair value target price of ₱67 . With Equitable PCI and BDO Unibank merging fully realized, BDO Unibank now stands as the largest bank in terms of asset in the Philippines. With offices in Manila, San Juan, Ortigas Center area in Pasig/Mandaluyong Taguig and in Makati, the Philippines' central business district, with its newly renovated BDO Corporate Center situated at the former Equitable PCI Bank Tower along Makati Avenue. In 2009, BDO Unibank completed its acquisition of
688-506: The BDO Unibank, Inc network on March 22, 2006, increasing the BDO's number of branches to 220. On August 5, 2005, BDO Unibank and an SM subsidiary, SM Investments , bought 24.76% of the shares of Equitable PCI Bank , the Philippines' third-largest bank, and 10% of an Equitable PCI affiliate, Equitable CardNetwork, one of the Philippines' largest credit card issuers, from the Go Family which founded
731-574: The BDO Unibank-Equitable PCI merger, the SSS is still studying the possibility of a merger. In fact, UBS studied the deal and claims that the merger through the stock swap option is a "win-win" situation. It also claims that the deal under IAS standards are timely enough to facilitate the merger and that with the merger, Equitable PCI shareholders, under UBS calculation, would see the value of their shares increase to about ₱73.60 per share, more than
774-558: The CBD, such as the Amberland Corporation, Aventis Pharma, Banco de Oro , Bank of Commerce , China State Construction Engineering Corp , Citibank , Digital Telecommunications Philippines , JG Summit Holdings and its affiliates (Robinsons Land Corporation, Robinsons Bank , and Robinsons Malls ), Meralco , Neville Clarke Phils., PCCW , San Miguel Corporation , 7-Eleven , Sykes Enterprises , TÜV SÜD Phils, Inc., Union Bank of
817-518: The Famous EDSA Shrine . The western portion of Ortigas Center is part of Mandaluyong . It is in the eastern side of Barangay Wack-Wack Greenhills. Mandaluyong is known for being the "Shopping Capital of the Philippines" because it is home to a cluster of shopping centers which stand side by side. This is where most of the shopping malls in the area located like SM Megamall , The Podium , Shangri-la Plaza Mall and St. Francis Square Mall . It
860-528: The PCD system rather than a single owner/shareholder. Major beneficial shareholders ( i.e. those who own at least 5% of outstanding capital stock with voting rights) hidden, if any, under the PCD system are checked/identified and are disclosed with the Definitive Information Statement companies are submitting annually to the local bourse and Securities and Exchange Commission BDO is divided into
903-677: The Philippine operations of GE Money Bank with an agreement for GE to acquire a minority stake in BDO Unibank. In a definitive agreement signed by the two institutions, GE Capital will acquire a 1.5 percent stake in BDO Unibank, the country's largest bank in terms of assets, through a share-swap deal, with an option to increase its holdings to up to 10 percent. The takeover will involve absorption of GE Money Bank's 31 branches, 30,000 customers, and 38 ATMs nationwide. On November 14, 2013, BDO Unibank. announced its plan to acquire 99.99 percent of Citibank Savings Inc. Citibank Savings has 10 branches and
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#1732868732087946-529: The Philippines , South Asialink Finance Corporation, Callhounds Global BPO Corporation, Vertiv , VeriFone , Asia United Bank (AUB) , White Cloak Technologies, CARMA, and other companies. Among the universities and colleges situated within Ortigas are St. Paul College Pasig , University of Asia and the Pacific , and the Saint Pedro Poveda College . The Ateneo School of Medicine and Public Health of
989-550: The Philippines. BDO Unibank is a member of the SM Group and so can be found at SM Malls throughout the country. BDO is the largest bank in the Philippines by total assets, and 15th largest in Southeast Asia by total assets, as of March 31, 2016. It is the largest bank in the country by market capitalization , and has the largest distribution network with over 1,300 operating branches and more than 4,000 ATMs nationwide. BDO
1032-530: The St Francis Group of Companies, AUX Aircon, and HKTV (HongKong TV) attached on the roof's exteriors. The towers feature a lap pool, a lagoon pool, a restaurant, a children's playground, an outdoor jogging path, and a gym. The St. Francis Square Mall is a four-storey mall located within the St. Francis Square complex. It is popularly known in the Metropolitan Manila for its advertisement jingle for
1075-540: The aftermath of a fire tragedy at Star City (which is located next to the MBC Building) in Pasay, the building served as a backup studio facility for the three stations, as well as temporary studios for AM radio station DZRH and community-formatted national FM network Radyo Natin . At night, the towers are illuminated with a neon light display from the central part of the towers to the tower's pyramid-style roofs, with logos of
1118-795: The area is part of Quezon City . It is situated south of Ugong Norte. The EDSA Shrine and Robinsons Galleria is situated here. Robinsons Galleria is a mixed-use complex composed of two high-rise office towers namely the Galleria Corporate Center and the Robinsons Equitable Tower , the Holiday Inn Manila Ortigas and Crowne Plaza Manila Galleria , the Galleria Regency and a 5-level shopping mall . Before Robinsons Galleria , this mall used to be an open land owned by SSS within Ortigas Center. In 1986, they used
1161-537: The bank. BDO Unibank has also been offered a further 10% by another Equitable PCI affiliate, EBC Investments, and a deal is being made to buy (awaiting court approval) the 29% stake of the Social Security System (SSS), the Philippines' private sector workers' pension fund. Subsequent acquisitions enabled the bank to acquire a 34% stake in Equitable PCI. On December 1, 2005, BDO Unibank shares were listed as
1204-513: The company became known as Whitaker and Ortigas. In the following years, there were several changes of partners. Then, on July 10, 1931, the company was incorporated as "Ortigas, Madrigal y cia., S. en C." as a limited partnership by shares ( Spanish : sociedad comanditaria por acciones ). The parties to the partnership were Francisco Ortigas (Don Paco), Vicente Madrigal, B.C.M. Johnston, Fulgencio Borromeo, Clyde A. Dewitt and future President Manuel L. Quezon . When Ortigas & Company acquired
1247-434: The country . During the planning phase of the tower, the two towers were supposedly to feature a rooftop observation deck or a sky garden on their pyramid roofs, yet the plan was removed years later. The towers currently serve as a 3-star hotel and also serve as a radio transmitter of FM radio stations 90.7 Love Radio , 101.1 Yes FM and 96.3 Easy Rock ; all owned by MBC Media Group . Between October and November 2019, amid
1290-413: The country's largest rural bank with 105 branches. One Network Bank changed its name to BDO Network Bank in 2019. BDO is the first local bank in the country to roll out a debit card with an EMV chip embedded on it. The EMV chipping system, just like the ones on credit cards will also enhance the security of the debit card holders. The cards were released in 2016. In 2017, they also introduced
1333-475: The current banking industry leader in the Philippines. Bank of the Philippine Islands is the current third biggest bank in the Philippines with P592.6 billion (as of June 2007). BDO Unibank has asked Equitable PCI to study their offer until January 31, 2006. BDO Unibank President Nestor Tan also expressed of a possibility of a three-way merger with Chinabank, also an SM Group-controlled bank. Tan said that
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1376-557: The estate, it was a virtual wasteland. The vision of the management, headed by Atty. Francisco Ortigas Jr., who was president and chairman at that time, turned it into a progressive industrial, commercial and residential urban complex. It would only take until the 1960s for development to begin in the district with the building of the first structures. In 1997, the price of land within Ortigas Center ranged from ₱150,000 to ₱220,000 per square meter, equivalent to ₱405,681 to ₱594,999 per square meter in 2021. The northern portion of
1419-503: The following subsidiaries and affiliates: On June 15, 2001, BDO Unibank merged with Dao Heng Bank 's Philippine subsidiary, with BDO Unibank as the surviving entity. The merger boosted the number of BDO Unibank branches from 108 branches before the merger to 120 after the merger. In September 2002, Metro Pacific Corporation (now Neo Oracle Holdings Inc. ) sold the operations and 57 branches of 1st e-Bank (formerly PDCP Bank) including its Smart Money Mastercard debit card issuer (which
1462-560: The land for the People Power Revolution. In 1987, John Gokongwei bought the large portion of the land from SSS. It started construction on mid-1988 and finished on late-1989. The mall opened in 1990 being the first mall of Robinsons Malls . Buildings like the UnionBank Plaza , Marco Polo Ortigas Manila , The Robinsons Cyberscape , The Orient Square , The Joy-Nostalg Center , The Meralco Theater are located here, as well as
1505-506: The largest distribution network with over 1,400 operating branches and more than 4,400 ATMs nationwide. It is the country's largest bank in terms of consolidated resources, customer loans, deposits, assets under management and capital, as well as branch and ATM network nationwide as of 2022. While the Philippine Central Depository (PCD) is listed a major shareholder, it is more of a trustee-nominee for all shares lodged in
1548-724: The merger, BDO Unibank needs consent of Equitable PCI shareholders representing 67% of Equitable PCI. These include the Social Security System (SSS) with 29%, the Government Service Insurance System (GSIS) with 14%, and the family of Equitable PCI chairman Ferdinand Martin Romualdez with eight percent. BDO Unibank said that the proposed "merger of equals" would create the country's second biggest bank with assets of about ₱ 608 billion (as of June 2007), just next to Metrobank with ₱669.1 billion (as of June 2007),
1591-474: The proposed Banco de Oro-Equitable PCI merger would consolidate the strengths of BDO Unibank and Equitable PCI in consumer lending and result in a dominant player in middle-market lending and a market leader in money remittance volumes, branch banking, trust and corporate banking with the combined network of 685 branches located in the Philippines and abroad. Although Romualdez and the GSIS have shown stiff opposition to
1634-425: The ticker symbol of the old Banco de Oro, and 1.3 billion BDO shares were issued in exchange for 727 million Equitable PCI Bank shares. Equitable PCI Bank was de-listed on June 4, 2007. The entity was initially known as Banco de Oro-EPCI, Inc., but announced that it would go by the name Banco de Oro Unibank, Inc. starting February 2007. In 2010 Banco de Oro changed its name to BDO Unibank, Inc. As of 2020, BDO has
1677-642: The west, Meralco Avenue to the east, and Shaw Boulevard to the south. Ortigas Center began as the 4,033-hectare (9,970-acre) "Hacienda de Mandaloyon" (also known as "Mandaloyen," "Mandaloyong," or "Mandaloya"), an estate from the Augustinian Order that spanned the present-day cities of San Juan , Mandaluyong , Quezon City , and Pasig . On January 20, 1920, the Augustinian friars sold this property to Dr. Frank W. Dudley and Don Francisco Ortigas. Dudley later surrendered his interest to Phil C. Whitaker, and
1720-399: The world's largest insurance firms, and Jerneh Asia Berhad, a member of Malaysia's Kuok Group . In March 2000, BDO Unibank partnered with Generali Pilipinas Life Assurance Company and Generali Pilipinas Insurance Company. The current bank is the product of the Banco de Oro–Equitable PCI Bank merger . The boards of both banks agreed to merge on December 27, 2006. The new BDO Unibank retained
1763-434: Was established on January 2, 1968 as Acme Savings Bank, a thrift bank with just two branches in the area before Metro Manila was formed. In November 1976, Acme was acquired by the SM Group , the group of companies owned by retail magnate Henry Sy , and renamed Banco de Oro Savings and Mortgage Bank. In December 1994, BDO became a commercial bank and was renamed Banco de Oro Commercial Bank. In September 1996, BDO became
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1806-406: Was finished in 2011. The complex has three buildings, but the main two towers are the most notable properties of the complex. Each tower stands 221 metres (725 ft) high, occupying a land area of 3,037.32 square metres (32,693 sq ft) of the site's land. The towers were topped off on 2000, yet was initially completed in 2011, wherein the two towers became the fourth-tallest buildings in
1849-469: Was formerly known as Insular Savings Bank before it was acquired by Citibank in 2005. In February 2014, BDO Unibank. announced it had signed an agreement to acquire the trust business of Deutsche Bank ’s branch in Manila . In July 2014, BDO Unibank. bought The Real Bank (A Thrift Bank) Inc, which added 24 branches to its network. Before the end of December 2014, BDO Unibank acquired One Network Bank ,
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