It’s hard to pick the biggest loser of the 1997 Asian financial crisis. Multiple Asian tiger economies were impacted, to such an extent that the IMF rolled out one record-breaking relief package after another. The multiple factors leading up to the crash were complex, but did the turmoil strengthen the region to withstand future crises?
For the world’s economy, 2021 hasn’t yet brought a break from 2020; COVID-19 remains dominant. Although all banking systems are vulnerable to upheaval, the situations for those in emerging markets are more tenuous for several reasons. S&P Global Ratings examined the three major risks facing a sample of 15 EM countries, including likely deterioration in asset quality, geopolitical and domestic policy uncertainty and vulnerability to abrupt changes in investor sentiment.
BDO Unibank has been the bank of choice for Filipinos for decades, rewarded for its dedication to satisfying customers’ needs with high rankings. The Philippines’ Enhanced Community Quarantine has tested BDO’s dedication to its stated values, but it has proven faithful to its CORE commitments to clients. Even in stressful times, BDO is on track to fulfil its vision of serving as many customers as possible as expertly as possible.
The Philippines is one of Southeast Asia’s most dynamic newly industrialized countries, and its banking sector continues to evolve within it. Robinsons Bank is one Philippine bank that is not content to stand still but has initiated a strategy for growth that is guaranteed to propel it to new frontiers. As RBank’s Roadmap 2020 transitions into Roadmap 2024, one can expect more milestones to be achieved by this forward-looking, enterprising bank.
The Philippines, among Southeast Asia’s most dynamic economies, is experiencing a growth spurt, and its top bank, BDO Unibank, is prepared to take full advantage. Guided by its core values, which include being committed to delivering “products and services that surpass customer expectations” and “the process of continuous improvement in everything we do”, BDO is on course to meet its targets of profit and growth, according to President and CEO Nestor Tan.
Three years ago, Union Bank of the Philippines reached the unprecedented decision to transform itself to be “digital to the core”. Most every bank is introducing digital innovations, but UnionBank’s all-out approach to digital transformation is setting an example that other banks will choose to follow. Throughout its onward march of progress, UnionBank has remained committed to its customers and staff, ensuring that not one of them is left behind.
UnionBank’s “moonshot” determination to undergo a complete digital transformation pervades the entire organization, not only the IT Department. UnionBankers are united in their vision for “making the diff” for their customers and wider communities by excelling in innovative products and services. In our interview, we discussed the bank’s progress with leaders from four separate areas of this ambitious Philippine bank.
Union Bank of the Philippines is committed to “Make Da Diff” for its customers, and nowhere is the bank’s commitment to fulfilling this motto more evident than in its resolve to foster digital innovation throughout all of its operations. By defining financial technology in its region, UnionBank has taken the lead in meeting the ever-evolving digital needs and expectations of its rapidly expanding customer base.
UnionBank is reaping the rewards of its pioneering vision and taking on a dominant role in its own territory. President and COO Edwin Bautista has been a main instigator of the bank’s forward thrust, which encompasses a plan to maximize customer satisfaction while ensuring that each and every employee successfully completes the bank’s digital journey.
Simon Hughes of International Banker interviews Mr. Edwin R. Bautista, president and COO of Union Bank of the Philippines.