SY-LED BDO Unibank Inc. saw a 12 percent year-on-year (YoY) increase in net income in the first six months of 2024 to P39.4 billion from P35.2 billion a year ago, on stronger momentum from its core intermediation and fee-based service businesses.
SY-LED BDO Unibank Inc. saw a 12 percent year-on-year increase in net income in the first six months of 2024 to P39.4 billion from P35.2 billion a year ago, on stronger momentum from its core intermediation and fee-based service businesses.The country's largest universal bank in terms of assets told the stock exchange that its annualized return on common equity also improved, from 14.3 percent in the first quarter of this year to 15.8 percent in the second quarter.
Non-interest income grew by 13 percent, supported by healthy growth in fee income, treasury and continued recovery in life insurance premiums.The non-performing loans ratio was 2.06 percent, while NPL coverage was 169 percent, higher than the industry average.Shareholders' equity strengthened by 12 percent as PNB's book value rose 12 percent year on year to P102.22 per share.Last week, BDO successfully raised P55.7 billion from its third Asean Sustainability Bond issue.
First Half Net Up 12% To P39.4B
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