BDO Unibank Inc. (BDO), the country’s largest lender owned by the Sy family, said Monday its nine-month net income jumped 12 percent year-on-year to P60.6
BDO Unibank Inc. , the country’s largest lender owned by the Sy family, said Monday its nine-month net income jumped 12 percent year-on-year to P60.6 billion, led by strong contributions from its core intermediation and fee-based service businesses.
- Advertisement - Gross customer loans increased 13 percent year-on-year, reflecting broad-based growth across all market segments. Total deposits expanded by 10 percent from a year ago. The current account/savings account deposit ratio remained stable at 69 percent. Non-interest income improved 16 percent year-on-year, boosted by growth in fees, service charges, treasury and forex gains as well as income from insurance operations. Asset quality improved, with the non-performing loan ratio declining to 1.82 percent and NPL coverage increasing to 178 percent. Shareholders’ equity strengthened by 13 percent year-on-year on continued profitable operations, with the book value per share growing to P106.48. BDO said it remains well-positioned to capitalize on emerging opportunities and sustain long-term growth and profitability, supported by its strong business franchise, solid balance sheet and extensive distribution network. BDO is a full-service universal bank offering a wide range of corporate and retail services. These include loan and deposit products, treasury services, investment banking, microfinance and insurance. The bank has the country’s largest distribution network, with over 1,700 branches and more than 5,700 ATMs nationwide. It also operates 16 international offices, including full-service branches in Hong Kong and Singapore.As of June 30, 2024, BDO ranked as the largest bank in the Philippines in terms of total assets, loans, deposits, and trust funds under management.
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BDO earned over P60 billion in 9 monthsBDO Unibank Inc. (BDO), the country’s largest lender owned by the Sy family, said Monday its nine-month net income jumped 12 percent year-on-year to P60.6
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