# BDO Private Bank: private banking at the Philippines' largest bank

> Separate BSP-licensed private bank: reported ~US$200k entry minimum, ₱704.5 bn trust assets, PDIC deposit cover raised to ₱1 m since March 2025.

Author: Alena Peteneva — Lawyer, Family Office (https://wiki.private.law/en/authors/dunaeva)
Last modified: 2026-10-20T13:25:00.000Z
Canonical: https://wiki.private.law/en/bdo-private
Publisher: wiki.private.law (https://wiki.private.law)
Version: eb692a9b0638f3b7a7a6f216408fd767930060ceac52d879b6ee09a78ecc5f5b
Cite as: BDO Private Bank: private banking at the Philippines' largest bank. wiki.private.law. https://wiki.private.law/en/bdo-private. Version eb692a9b0638f3b7a7a6f216408fd767930060ceac52d879b6ee09a78ecc5f5b.
Topics: banking
Jurisdictions: philippines, global
Functional tags: private-banking
Product tags: bank, wealth-planning, investment, trust, estate-planning, family-office
Semantic tags: private-banking, bank, wealth-planning, investment, trust, estate-planning, family-office

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## Concept

BDO Private Bank, Inc. is a wholly-owned subsidiary of BDO Unibank, the Philippines' largest bank. Unlike most Philippine peers, it is a separate legal entity with its own commercial banking licence supervised by the Bangko Sentral ng Pilipinas (BSP) — the first domestic private bank in the country to hold one. Headquarters: BDO Equitable Tower, 8751 Paseo de Roxas, Makati. The group ranks first among Philippine banks by total assets — ₱5,743.5 bn in the BSP ranking as of 30 June 2026, ahead of BPI, Metrobank and LANDBANK.

## History and evolution

- **1968** — founded as Acme Savings Bank.
- **1976** — acquired by Henry Sy's SM Group, renamed Banco de Oro.
- **1994** — commercial banking licence.
- **1996** — universal bank status.
- **2001** — acquisition of Dao Heng Bank Philippines.
- **2003** — acquisition of Banco Santander Philippines; the combined entity was renamed BDO Private Bank — the origin of the private bank.
- **2005** — acquisition of UOB Philippines.
- **2007** — merger with Equitable PCI Bank; the group renamed BDO Unibank.
- **2009** — acquisition of GE Money Bank.
- **2014** — acquisition of Citibank Savings.
- **2015** — acquisition of One Network Bank (now BDO Network Bank).
- **2016** — first Philippine bank to breach ₱1 tn in trust assets under management.
- **2018** — launch of family office services on an open-architecture platform.
- **May 2024** — Joseph Albert L. "Joey" Gotuaco, formerly EVP/CFO at BPI, appointed president.
> 🍓 Deposit protection. The PDIC maximum deposit insurance was raised from ₱500,000 to ₱1,000,000 per depositor per bank effective 15 March 2025 — the first adjustment since 2009, according to official information. BDO Private Bank is a separate PDIC member bank: deposits with it carry their own ₱1 m coverage, distinct from coverage on deposits with BDO Unibank.

## Regulation

Both levels of the structure are BSP-supervised: BDO Unibank operates as a universal bank listed on the PSE, while BDO Private Bank holds a separate commercial banking licence and its own PDIC membership. The bank's chairperson is Teresita T. Sy; its president is Joseph Albert L. Gotuaco (since May 2024). The senior team includes a dedicated Head of Family Office (Eileen Rizza C. Lim) and a Head of Wealth Structuring (Joseph Rhoderick B. Lledo). Group President & CEO Nestor V. Tan remains in role as of 2026. SM Investments Corporation beneficially owns 45.18 % of BDO.

Compliance background: in December 2021 a cyber-heist ("Mark Nagoyo") compromised around 700 BDO accounts via a compromised web service, with transfers mostly to UnionBank accounts. The BSP Monetary Board ordered sanctions on both banks (28 April 2022) without disclosing amounts; [BDO's own PSE disclosure (May 2022)](https://www.bdo.com.ph/content/dam/bdounibank/en-ph/about-bdo/disclosures/all-disclosures/2022/correspondence-on-article-bdo-ub-face-sanctions.pdf) stated "no monetary sanctions imposed by the BSP". BDO shouldered depositor losses; the NBI arrested five suspects (January 2022). This incident concerns BDO Unibank. [BDO Private Bank, Inc.](https://www.bsp.gov.ph/Regulations/Issuances/2023/M-2023-020.pdf) is a separate legal entity, and the BDO Unibank disclosure does not establish its enforcement history.

## Source of wealth

The core clientele is built on entrepreneurial and SME family wealth, OFW remittance wealth and the returning diaspora, professionals' savings, real-estate fortunes and multi-generational Chinese-Filipino business families. Source-of-funds verification is a standard part of onboarding: see [source of funds](https://wiki.private.law/source-of-funds).

> 💡 On entry thresholds. No official minimum is published on the bank's website. Asian Private Banker's league table lists the entry threshold at US$200,000 (≈ ₱10–12 m); Philippine forums commonly cite ₱10 m; older ₱5 m citations are outdated. Official IMA (investment management account) minimums at the parent bank run from ₱1 m (IMA-03) to ₱50 m (IMA-01).

## Who it serves

The bank targets affluent and high-net-worth Filipinos whose banking needs exceed the mass-premium segment: business owners, heirs of business dynasties, professionals with substantial savings, and the Philippine diaspora — a strategic bet on serving overseas Filipino wealth through Kabayan Savings and the BDO Remit network.

## Services

- deposit and credit banking;
- investment advisory and discretionary investment management accounts (IMAs);
- UITFs — unit investment trust funds;
- offshore feeder funds and alternative investments;
- family office services (launched 2018, open-architecture platform);
- estate and legacy planning via Philippine-law trust services;
- wealth structuring desk;
- 8 private-banking lounges nationwide (2019 — claimed as the country's largest private-banking centre network).
## Entities

| Jurisdiction | Legal entity | Form and supervision | Role |
| --- | --- | --- | --- |
| Philippines | BDO Unibank, Inc. | Universal bank; BSP-supervised, PSE-listed | Parent group |
| Philippines | BDO Private Bank, Inc. | BSP commercial banking licence; separate PDIC member | Private banking |
| Philippines | BDO Capital & Investment Corp. | Investment house | Investment banking |
| Philippines | BDO Securities Corp. | Brokerage | Brokerage services |
| Philippines | BDO Trust — Trust and Investments Group | Division of the parent bank | Group trust management |
| Singapore, Hong Kong | BDO Unibank branches | Overseas branches of the parent bank | Onshore and offshore access |

## Strengths

- Trust scale: Assets Under Trust of ₱704.5 bn at 31 December 2025 versus ₱637 bn at end-2024, according to official annual reports; group trust AUM of ₱1.668 tn (2024) — BDO is the largest trust fund manager in the Philippines.
- Financial resilience: record group net income of ₱87.2 bn (+6 %) for FY2025; total resources of ₱5.43 tn.
- Separate PDIC membership — the private bank's deposits carry their own insurance protection.
- Full service stack: from deposits to family office and access via Singapore and Hong Kong.
## Where it falls short

- As a standalone entity the bank ranks only 30 of 44 commercial banks by assets (₱43.1 bn, June 2026, BSP) — its scale is delivered through the group.
- Trust structures are anchored in Philippine law; offshore access runs through the parent's branches rather than a proprietary network.
- The entry threshold is not officially published — accessibility must be gauged from third-party data.
- A Philippine-market focus: for clients without ties to the Philippines, the proposition is limited.
BDO Private Bank is the dedicated private bank inside the Philippines' largest banking group: the combination of a separate banking licence, its own PDIC coverage and access to the market leader's resources makes it the default option for wealthy clients with Philippine ties, while the international component is delivered through the group.

## Q/A

### What is the minimum entry threshold at BDO Private Bank?

No official minimum is published. Asian Private Banker lists US$200,000 (≈ ₱10–12 m); Philippine forums commonly cite ₱10 m. IMA minimums at the parent bank start at ₱1 m.

### Are deposits with BDO Private Bank insured?

Yes: BDO Private Bank is a separate PDIC member bank, so deposits carry their own coverage of up to ₱1 m per depositor (limit effective since 15 March 2025), distinct from coverage on deposits with BDO Unibank.

### How does BDO Private Bank differ from BDO Unibank?

It is a subsidiary of BDO Unibank with its own BSP commercial banking licence, focused on private banking: investment and trust services, family office and wealth structuring.

### Who leads BDO Private Bank?

The president is Joseph Albert L. "Joey" Gotuaco (since May 2024, formerly EVP/CFO at BPI); the chairperson is Teresita T. Sy. The group President & CEO of BDO Unibank is Nestor V. Tan.

### Does the bank offer family office services?

Yes, since 2018 — on an open-architecture platform; the dedicated Head of Family Office is Eileen Rizza C. Lim.

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