Banco de Oro posts highest AUM with $6.97B

Banco De Oro Unibank has the highest assets under management at the end of June 2009, accounting for 25.15 percent of the total or US$8.56 billion. This was an increase of 22.7 percent from the end-December 2008 level of US$6.97 billion.

The total assets under management by various Philippine banks reached US$34 billion at the end of the first half 2009, 23.58 percent better than the 2008 level of P1.335 trillion.

BDO currently offers nine unit investment trust funds catering to both individual and corporate clients and three other types solely for corporate clients. UITF is an open-ended pooled trust fund denominated in any acceptable currency. It is operated and administered by a trust entity.

The Ayala-controlled Bank of the Philippine Islands (BPI), meanwhile, was ranked number two with US$7.57 billion; followed by Metropolitan Bank & Trust Co., US$4.164 billion; Standard Chartered Bank, US$2.658 billion; China Banking Corp., US$1.31 billion; ING Bank N.V. Manila Branch, US$1.187 billion; Land Bank of the Philippines, US$1.186 billion; Rizal Commercial Banking Corp., US$1.08 billion; Deutsche Bank AG US$US$863 million.