BDO Unibank, Inc. (BDO) posted net earnings of ₱39.4 billion in the first half of 2024, 12 percent higher year-on-year, on the stronger momentum from its core intermediation and fee-based service businesses. Annualized Return on Common Equity (Roce) improved from 14.3 percent in the first quarter to 15.8 percent in the second quarter.
Gross Customer Loans expanded by 13 percent across all market segments, while total deposits rose by 13 percent. BDO’s Current Account/Savings Account (Casa) ratio by 69 percent.
Non-interest income grew by 13 percent, supported by healthy growth in fee income, treasury, and the continued recovery in life insurance premiums.
Asset quality remained stable despite elevated interest rates.
Non-Performing Loan (NPL) ratio settled at 2.06 percent, while NPL coverage stood at 169%, better than the industry average.
Shareholders’ equity strengthened 12 percent on profitable operations, with book value per share expanding 12 percent YoY to ₱102.22.
The Bank successfully issued its third ASEAN Sustainability Bond last July 24, 2024, raising ₱55.7 billion to finance and/or refinance eligible projects to aid the country’s sustainable development.
BDO’s robust business franchise and strong balance sheet place the Bank in a suitable position to capitalize on emerging opportunities to sustain attractive long-term growth and profitability. PR
