Join the DÉLO club and be the first to know.

Bdo Home Loan Agreement

Posted on

About GE Money Bank Philippines GE Money Bank has continued to grow with a focus on providing a “Simply Better Banking” experience to Filipino customers. Ge Money Bank offers more than 30,000 customers a wide range of banking and financial products and services, including deposits, SMEs, auto and private loans and mortgages, and uses GE`s global expertise and rigor in risk analysis and management to provide a flexible and more personalized banking solution. For more information, see Ge Capital Global BankingGe Capital Global Banking offers smart and flexible financial solutions to clients in 26 countries around the world. From credit cards and private loans to car financing, savings products and many other innovative financial products, GE Capital Global Banking has a rich history of helping our clients and partners achieve their business goals and dreams. BDOBDO is one of the leaders in the Philippine banking sector. It took first place in terms of total resources, fiduciary assets, loans and deposits and ranked third in terms of capital as at 31 March 2009. The Bank offers a full range of products and services, including retail banking, credit (corporate, commercial, consumer and SME), treasury, trust, credit cards, corporate cash management and wire transfers. Through its subsidiaries, the bank provides leasing and financing, investment banking, private banking, bancassurance, insurance brokerage and stock brokerage services. For more information, see [Manila, 28 May 2009] Banco De Oro Unibank, Inc. (PSE: BDO) and GE Capital, the financial services unit of general Electric Company (NYSE: GE), announced the signing of a final agreement to transfer GE Money Bank (GEMB) in the Philippines to BDO. As part of the agreement, GE will also make a strategic investment in BDO by acquiring a stake of approximately 1.5%, with the possibility of further increasing its stakes to 10%.

Both transactions are subject to closing conditions, including administrative approvals, and are expected to be completed in the third quarter of 2009. Lisa Farrugia — GE Capital Global Banking Southeast Asia Communications Phone: +65 6506 6413Mobile: +65 9653 1190E-Mail: [email protected] About GEGE (NYSE: GE), Imagination at Work – a diversified technology, media and financial services company focused on solving some of the world`s toughest problems. Through products and services ranging from aircraft engines, power generation, water treatment and safety technology to medical imaging, business and consumer finance, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company`s website at GE agrees, Ge Money Bank to BDO and acquire a strategic stake in BDO GEEric Montelibano — GE Money Bank Philippines CommunicationsAphone: +632 777 8675Mobile: +639 178 687428E-Mail: [email protected] Teresita T. Sy-Coson, President of BDO, said: “We welcome the opportunity to partner with an institution like General Electric. With GE`s expertise in the financial sector, we hope that this partnership will eventually offer our customers better consumer products and flexible financing solutions. BDO, with a balance sheet total of P801 billion in the first quarter of 2009, has experienced significant growth over the past five years, mainly through a series of mergers and acquisitions and organic growth. With a network of more than 700 branch licenses and more than 1,200 ATMs, BDO has one of the largest distribution networks in the Philippines. . . .