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BDO sees somber 2026 outlook
Manila Bulletin
|December 12, 2025
Sy-led BDO Unibank Inc. said muted investments are likely in 2026, as business activity in the Philippines has weakened this year due to a string of headwinds—including the flood-control fiasco—that have unsettled local business conditions.
BDO President and Chief Executive Officer (CEO) Nestor V. Tan told reporters on Wednesday, Dec. 10, that the country’s largest bank by assets entered the year on solid ground, as the strong finish in 2024 had been carried over into 2025.
Tan noted, however, that the robust banking and business environment at the start of the year began to lose its balance when United States (US) President Donald Trump proclaimed Liberation Day on April 2—the day he first announced a sweeping tariff hike.
It can be recalled that US-bound Philippine exports were first slapped with a 17-percent tariff, then raised to 20 percent, before inching down to 19 percent following negotiations between both countries.
This story is from the December 12, 2025 edition of Manila Bulletin.
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