BDO reports flat Q2 net income, 3.12% first-half growth

Sy family-led BDO Unibank Inc. reported a flat net income of P20.985 billion for the second quarter, resulting in a first-half net income of P40.76 billion, marking a 3.12 percent increase from the same period last year.

The bank's performance was driven by strong core business operations and higher non-interest income, despite increased spending on market coverage and IT infrastructure.

Net interest income grew by 8.32% in the second quarter to P50.38 billion, while gross customer loans climbed by 14% to P3.4 trillion with a deposit base of P4.03 trillion and a CASA ratio of 69%. Non-interest income also rose by 9.2%.

BDO's nonperforming loan ratio decreased slightly to 1.75 percent, indicating stable asset quality despite rising expenses.

Amid global uncertainties such as geopolitical tensions and US tariffs, BDO president and CEO Nestor Tan stated that the Philippines is expected to remain resilient due to its consumer-driven economy and sustained domestic demand.