BDO Network Bank

BDO Network Bank, Savings Bank arm of BDO Unibank, Inc
Company typeSubsidiary
IndustryFinance and Insurance
FoundedDavao City (2004)
HeadquartersKm. 9 Sasa, Davao City, Philippines
Area served
Philippines
Key people
Nestor V. Tan (Chairman)
Jesus Antonio S. Itchon (President)
ProductsFinancial services
PHP 743 million (Q3 2013)[1]
Total assetsPHP 87 billion (2022)[2]
Number of employees
1,356 (2013)[1]
ParentBanco de Oro
Websitebdonetworkbank.com.ph

BDO Network Bank (BDO NB), formerly known as One Network Bank (ONB), is a rural bank in the Philippines. Established in 2004 through the consolidation of Network Rural Bank of Davao del Sur, the Rural Bank of Panabo of Davao del Norte, and the Provident Rural Bank of Cotabato, ONB is the largest rural bank in the Philippines in terms of assets, with a network of 96 branches in Mindanao, 1 branch in Makati and province of Iloilo (including Iloilo City) and a fleet of 135 ATMs throughout the provinces in Mindanao, including 17 localities where it is the sole provider of financial services.[citation needed]

It is the first rural bank in the Philippines to receive the nod of the Philippine Clearing House Corporation (PCHC) to establish a checking account, as well as to have its cheques cleared directly by the PCHC, instead of an intermediary bank.[citation needed] It is also an equity member of MegaLink (now a BancNet member), one of the first banks in Mindanao to join an interbank network.

In December 2014, the bank was acquired by Banco de Oro.[2] The acquisition was completed in July 2015.[3]

To align with the continued expansion of its parent company Banco de Oro (BDO Unibank), it changed its name to BDO Network Bank on August 6, 2019.[4]

  1. ^ a b Basa, Mick (December 24, 2014). "BDO eyes Mindanao expansion through ONB buyout". Rappler. Retrieved May 26, 2022.
  2. ^ a b BSP, Website (December 31, 2023). "BSP Bank Ranking on rural bank as of Sept 2022".
  3. ^ "BDO completes acquisition of largest rural bank". Rappler. July 22, 2015. Retrieved May 26, 2022.
  4. ^ Agcaoili, Lawrence (September 18, 2019). "BDO's One Network Bank changes corporate name". Philstar.com. Manila. Retrieved May 26, 2022.