Banco De Oro Unibank Inc. (BDO), originally known as Acme Savings Bank, was acquired by the SM Group in 1976. The SM Group is one of the largest conglomerates in the Philippines, with substantial interests in financial services, real estate development, and tourism and entertainment, founded around its core business in commercial centers and retailing. BDO listed its shares on the Philippine Stock Exchange (PSE) on May 21, 2002. Since it acquired full universal bank status in 1996, BDO has progressed through a period of growth and expansion by taking advantage of market opportunities and engaging in a series of mergers and acquisitions to complement organic growth. With the enhanced scale and depth, the company is able to further optimize its branch network and reach a wider market through constant product innovation and customer service excellence. The merger between BDO and Equitable PCI Bank (EPCI) in May 2007 effectively transformed BDO into a full-service bank across all markets and geographic segments. BDO now offers a complete array of products and services, i.e. retail banking, lending (corporate, commercial, consumer, and SME), treasury, trust, credit cards, corporate cash management and remittances. Through its subsidiaries, the company offers leasing and financing, investment banking, private banking, bancassurance, insurance brokerage and stock brokerage services. It has one of the largest branch networks, with over 700 branch licenses and more than 1,200 ATMs nationwide. In addition, BDO has an offshore branch located in Hong Kong and an overseas network of remittance offices, correspondent banks, tie-ups and designated agents spread out across Asia, North America, Europe and the Middle East. BDO's diverse subsidiaries and investments in allied undertakings provide an extensive range of banking and other financial services. The company's subsidiaries are as follows: BDO Private Bank, Inc., BDO Leasing & Finance, Inc., EBC Strategic Holdings Corporation, EBC Investments, Inc., PCIB Properties, Inc., BDO Capital & Investment Corporation, BDO Financial Services, Inc., BDO Technology Center, Inc., Equimark - NFC Development Corp., BDO Realty Corporation, PCIB Securities, Inc., PCI Realty Corporation, BDO Insurance Brokers, Inc., PCI Insurance Brokers, Inc., PCI Express Padala (HK) Ltd., PCIB Europe, S.P.A., Express Padala HK Ltd., BDO Remittance (USA), Inc., Express Padala Frankfurt GmbH, and Equitable PCI Express Padala (Nederland) B.V. Source: The Company (2009)