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BDO’s income climbs in Q2
BDO Unibank reported a 12 percent increase in net income, reaching P23.9 billion in the first half of 2022, with a second-quarter net profit of P12.205 billion.
This growth was driven by a 9 percent rise in its customer loan portfolio, funded by an 11 percent increase in CASA deposits which now comprise 85 percent of total deposits.
Non-interest income expanded to P34.3 billion, lifted by strong growth in fees and insurance premiums.
The bank's non-performing loan (NPL) ratio decreased to 2.39 percent.
BDO's first semester performance translated to a return on average common equity of 11.26% and a return on average assets of 1.3%.
The bank continues to roll out new digital capabilities and self-service technologies across branches to make banking services more accessible and easier to use.
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