With Tessie Sy as chair and Wharton-educated Nestor Tan, 66, as president-CEO, BDO has been the country’s largest bank since 2015. The country’s second largest bank, state-owned LandBank, reported record net profits of P40.3 billion, exceeding its P35-billion profit target for 2023. Monthly, BDO makes P6.1 billion in net profits; BPI P4.3 billion; Metrobank P3.5 billion and LandBank P3.3 billion. The pension fund of private workers, meanwhile, the Social Security System, reported net profits of P83.13 billion, up 62.8 percent. The world’s first modern economic zone, the 64-year-old Shannon Free Zone in Ireland, now hosts 300 companies and employs about 8,000 individuals.
