The Daily Tribune
Future-ready: BDO profits more than P60-B in nine months
BDO Unibank Inc. reported a 12% increase in net profit for the first nine months of the year, reaching P60.6 billion.
This growth was primarily driven by the bank's core lending and fee-based service operations, with net interest income rising by 5.78% in the third quarter.
Customer loans expanded by 13% during the same period, while total deposits grew by 10%.
The bank's nonperforming loans ratio stood at 1.82%, indicating good asset quality.
Non-interest income increased by 16%, boosted by higher fees, service charges, treasury and foreign exchange gains, and income from insurance operations.
The bank's Annualized Return on Common Equity (ROCE) for this period stood at 15 percent.
Asset quality also improved, with Non-Performing Loan ratio declining to 1.82 percent and NPL coverage rising to 178 percent.
BDO ended the period with over 1,700 consolidated operating branches and over 5,700 ATMs nationwide, along with 16 international offices.
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