BDO Unibank Inc. president Nestor Tan is not setting a rigid deadline to transition away from coal power financing, emphasizing that energy security is the priority, in contrast with other major banks that will stop lending to coal projects within the next decade.
The Sy family’s BDO Unibank Inc., the country’s biggest lender, was off to a strong start as it reported a 12 percent increase in first quarter net income to P18.5 billion.
Tycoon Manuel Villar Jr. remains the richest Filipino with a net worth of $11 billion (P620 billion), according to the latest wealth list of Forbes Magazine.