BDO Unibank, Inc. (BDO) achieved a profit of ₱35.2 billion during the first half of 2023, driven by strong expansion across its core operations. This translated into a Return on Common Equity of 15.1%, a notable increase from the 11.3% reported in the same period of the previous year.
The Net Interest Income demonstrated growth, reaching ₱89.5 billion, propelled by an 8% year-on-year expansion in Gross Customer Loans, which amounted to ₱2.7 trillion. Concurrently, Deposit Liabilities also grew by 12%, totaling ₱3.3 trillion. The Non-Interest Income experienced an 11% surge, reaching ₱38.2 billion, largely attributed to robust growth in various fee-based and treasury/FX businesses.
The Pre-Provision Operating Profit stabilized at ₱52.4 billion, with revenues outpacing operating expenses in terms of growth.
BDO managed to lower its Non-Performing Loan (NPL) ratio to 1.95% from the previous quarter's 1.98%. Furthermore, the NPL coverage strengthened to 174%, reflective of the bank's prudent credit and provisioning policies.
Benefitting from profitable operations, Shareholders' Equity surged to ₱487.5 billion. The Capital Adequacy Ratio and the Common Equity Tier 1 (CET1) Ratio bolstered to 15% and 13.9%, respectively, comfortably exceeding regulatory minimum thresholds. Notably, the Book Value Per Share climbed by 13% to reach ₱91.42.
Amidst the backdrop of improving macroeconomic trends, including moderating inflation, consistent GDP growth, and stable foreign exchange and interest rates, the Bank is well-positioned to harness emerging growth opportunities. This advantageous position stems from its robust balance sheet, robust business franchise, and diversified revenue streams.
For more information, please visit www.bdo.com.ph
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