Philippines Financials Sector Stocks

BDO Unibank Inc. (BDO), originally known as Acme Savings Bank, was acquired by the SM Group in 1976. BDO listed its shares on the Philippine Stock Exchange on May 21, 2002. The Company merged with Equitable PCI Bank in May 2007. BDO offers an array of products and services, i.e. retail banking; lending (corporate, commercial, consumer, and SME); treasury; trust; credit cards; corporate cash management; and remittances. Through its subsidiaries, the Company offers leasing and financing; investment banking; private banking; bancassurance; insurance brokerage; and stock brokerage services.The Company's local subsidiaries include BDO Private Bank, Inc.; BDO Leasing and Finance, Inc.; BDO Capital & Investment Corporation; BDO Nomura Securities, Inc.; and BDO Insurance Brokers, Inc. The Company also has foreign subsidiaries in the US, Hong Kong, Italy, Japan, Canada, and Macau. The Company's associates include NLEX Corporation; SM Keppel Land, Inc.; Northpine Land Inc.; Taal Land, Inc.; and MMPC Auto-Financial Services Corporation.As of December 31, 2019, BDO has 1,434 operating domestic branches (inclusive of one branch each in Hong Kong and Singapore), 4,466 automated teller machines and 562 cash deposit machines.Source: SEC Form 17-A (2019)

Bank of the Philippine Islands (BPI) was incorporated on January 4, 1943 as a domestic commercial bank and went public on October 12, 1971. The Company offers an array of financial services that include corporate banking, consumer banking, investment banking, asset management, corporate finance, securities distribution, and insurance services.On December 29, 2016, BPI spun off its BPI Asset Management and Trust Group to a newly-established stand-alone trust corporation named BPI Asset Management and Trust Corp. (BPI AMTC). BPI AMTC commenced operations on February 1, 2017.Aside from BPI AMTC, the Company's other principal subsidiaries are BPI Family Savings Bank, Inc.; BPI Capital Corp.; BPI Direct BanKo, Inc.; BPI International Finance Limited; BPI Remittance Centre Hong Kong Ltd.; BPI (Europe) Plc.; BPI Century Tokyo Lease & Finance Corp.; BPI/MS Insurance Corp.; BPI/MS Insurance Corp.; and BPI Investment Management Inc.As end of 2019, BPI has 867 branches, including 6 kiosk branches, across the country. Overseas, BPI has three branches in Hong Kong and one each in UAE and Japan. BPI also has 2,323 automated teller machines and 499 cash accept machines. Source: SEC Form 17-A (2019)

Metropolitan Bank & Trust Company (MBT) was incorporated on April 6, 1962 by a group of Filipino businessmen principally to provide financial services to the Filipino-Chinese community. MBT eventually diversified its business to provide a range of banking and collateral services to all sectors of the Philippine economy. MBT opened its first office in Binondo, Manila on September 5, 1962. On August 21, 1981, MBT was granted a universal banking license by the Bangko Sentral ng Pilipinas. MBT's principal business activities involve deposit-taking and lending, trade finance, remittance, treasury, investment banking and thrift banking. The Company is a participant in the foreign exchange market, and is accredited by the Securities and Exchange Commission as a government securities eligible dealer/broker. MBT's significant subsidiaries include First Metro Investment Corporation; Philippine Savings Bank; Metrobank Card Corporation; and ORIX METRO Leasing and Finance Corporation. As of December 31, 2019, MBT has 707 branches. The Company also has 1,788 automated teller machines and 178 cash accept machines.Source: SEC Form 17-A (2019)

China Banking Corporation (CHIB) was incorporated on July 20, 1920 and commenced business on August 16 of the same year as the first privately-owned local commercial bank in the Philippines. CHIB was listed on the local stock exchange by 1927 and acquired its universal banking license in 1991. CHIB started by mainly catering to the Chinese-Filipino commercial sector, but has since expanded its market scope to include the retail and consumer segments. CHIB's main businesses include corporate and SME lending, retail loans including mortgage and auto loans, treasury and foreign exchange trading, trust and asset management, investment banking and advisory services, wealth management, cash management, insurance products through China Bank Insurance Brokers, Inc. and Manulife China Bank Life Assurance Corporation (Manulife China Bank), internet banking and mobile banking services and remittances through tie-ups with remittance companies and exchange houses in the Middle East, Asia and major US cities. The Company also offers foreign currency deposits of US Dollar, Euro, Yuan, and Yen to cater to clients' trade, investment and remittance requirements in this currency.The Company's subsidiaries include Chinabank Insurance Brokers, Inc.; CBC Properties and Computer Center, Inc.; China Bank Savings, Inc.; China Bank Capital Corporation; China Bank Securities Corporation; and CBC Assets One, Inc. As of December 31, 2019, CHIB's products and services are made available across multiple distribution and delivery channels, particularly through its 631 branches and 1,002 automated teller machines nationwide. Source: SEC Form 17-A (2019)

Philippine Trust Company (PTC), also known as Philtrust Bank, was incorporated on October 21, 1916. On June 5, 2007, the Bangko Sentral ng Pilipinas granted PTC the authority to operate as a universal bank. The Company offers domestic, international and trust services. Domestic services include checking accounts, savings accounts, time deposits, money market placements, business loans, transfer of funds and collections, remittances, securities investments and safety deposit boxes. International transactions involve commercial letters of credit, collections and remittances, foreign exchange, traveler's checks and FCDU transactions. Trust operations consist of trust placement, investment management, estate administration/trustee of bond issues, savings and pension plan administration, insurance trust, and acting as escrow agent and stock registrar and transfer agent. As of December 31, 2019, PTC has a network of 60 branches and 67 automated teller machines nationwide.Source: SEC Form 17-A (2019)

Union Bank of the Philippines (UBP) was incorporated on August 16, 1968 originally known as Union Savings and Mortgage Bank and operates as a universal bank through its universal banking license acquired in July 1992. UBP has undertaken two bank mergers, first with International Corporate Bank in 1994 and then with International Exchange Bank in 2006. UBP offers a broad range of products and services, which include deposit and related services; corporate and middle market lending; consumer finance loans such as mortgage, auto loans and credit card; investment, treasury and capital market; trust and fund management; wealth management; remittance; cash management and electronic banking; and bancassurance.UBP's active subsidiaries include City Savings Bank, Inc. (CSBI); First Agro-Industrial Rural Bank, Inc. (under CSBI); Petnet, Inc. (under CSBI); Bangko Kabayan, Inc. (under CSBI); UBX Philippines Corporation; UBP Investments Corporation, formerly Union Properties, Inc.; First Union Direct Corporation; First Union Plans, Inc.; and First Union Insurance and Financial Agencies, Inc.As of March 31, 2020, UBP has 393 branches and 478 automated teller machines nationwide.Source: The Company (2020)

Rizal Commercial Banking Corporation (RCB) was originally incorporated on September 23, 1960 under the name Rizal Development Bank and began operations as a private development bank in the province of Rizal. The Company was acquired in 1962 by members of the Yuchengco Group of Companies, a financial services conglomerate with market presence in insurance and other risk management services. In 1963, RCB received approval from the Bangko Sentral ng Pilipinas to operate as a commercial bank and began operations under its present name. RCB acquired its universal banking license in 1989.RCB offers commercial, corporate and consumer lending products, cash management products, treasury products, and remittance services. RCB also enters into forward currency contracts as an accommodation to its clients and as a means of managing its foreign exchange exposures. RCB and its subsidiaries are engaged in all aspects of traditional banking, investment banking, retail financing (auto, mortgage/housing loans, credit cards and microfinance loans), remittance, leasing, foreign exchange and stock brokering.The Company's subsidiaries include RCBC Capital Corporation; RCBC Securities, Inc.; RCBC Savings Bank, Inc.; RCBC Forex Brokers Corporation; RCBC International Finance Limited; RCBC North America, Inc.; RCBC TeleMoney Europe S.p.a.; and RCBC Leasing and Finance Corporation.As of December 31, 2019, RCB has 507 business centers, inclusive of 11 extension offices and supplemented by 1,530 automated teller machines. Source: SEC Form 17-A (2019)

Asia United Bank Corporation (AUB) was incorporated on October 3, 1997 and was granted authority to operate as a commercial bank on September 3, 1997. AUB began its commercial operations on October 31, 1997. In 2012, it obtained approval from the Bangko Sentral ng Pilipinas to upgrade its license into expanded commercial banking status. In 2013, AUB joined the league of Philippine Banks that have become publicly listed and acquired universal banking status.In addition to commercial banking, with AUB's universal bank status, the Company is authorized with the powers of an investment house, such as securities underwriting and trading, loan syndication, financial advisory, private placement of debt and equity securities, project finance, and direct equity investment; and the power to invest in allied and non-allied enterprises. As of December 2019, AUB has four subsidiaries, namely, Asia United Leasing and Finance Corporation, Rural Bank of Angeles, Cavite United Rural Bank, and RediMoney Express PTE Limited (formerly Pinoy Express PTE Ltd). By the end of 2019, the Company, together with its subsidiaries, had a network of 262 branches.Source: SEC Form 17-A (2019)

Security Bank Corporation (SECB) was incorporated on May 8, 1951 and started its operations as a commercial bank on June 18, 1951. In 1994, SECB was approved by the Bangko Sentral ng Pilipinas to operate as a universal bank. SECB's businesses include wholesale banking, financial markets and retail banking. The Company provides commercial banking services such as deposit products, loans and trade finance, domestic and foreign fund transfers, treasury, foreign exchange and trust services. The Company's subsidiaries and joint venture are SB Finance Company, Inc. (formerly Security Bank Savings Corporation); SB Capital Investment Corporation; SB Rental Corporation; SB Equities, Inc.; SB Cards Corporation; SBM Leasing, Inc.; SB Forex, Incorporated; and Security Finance and Leasing Inc.As of December 31, 2019, SECB has a network of 308 on-line branches, 176 branches of which are located in Metro Manila and 132 situated outside Metro Manila. SECB also has 841 automated teller machines.Source: The Company (2020)

Philippine National Bank (PNB) was incorporated on July 22, 1916 to engage in the general commercial banking business. PNB provides a range of banking and financial services to corporate, middle-market, small and medium enterprises and retail customers, including overseas Filipino workers, as well as to the Philippine national government, national government agencies, local government units and government-owned and -controlled corporations in the Philippines.PNB's principal commercial banking activities include deposit-taking, lending, trade financing, foreign exchange dealings, bills discounting, fund transfers/remittance servicing, asset management, treasury operations, comprehensive trust services, retail banking and other related financial services.As of December 31, 2019, PNB has 715 branches and 1,626 automated teller machines nationwide. PNB also maintains 71 overseas branches, representative offices, remittance centers and subsidiaries across Asia, Europe, the Middle East, and North America.Source: The Company (2020)