Metro Manila, Philippines – Listed BDO Unibank, Inc. (BDO) posted a net income of ₱63.6 billion in the nine months to September, up from ₱63.1 billion year-on-year.
With a return on equity at 13.1% the bank said in a statement that it continued its strong operational performance, supported by robust loan growth, double-digit pre-provision operating profit growth and further improvement in asset quality despite the challenges.
Net interest income increased 11 percent year-on-year as gross customer loans grew 16 percent to ₱4.1 trillion, driven by broad-based loan portfolio growth across all segments. Total deposits advanced 11 percent, with current and savings accounts increasing 5 percent. Non-interest income rose 3 percent. Operating expense growth remained well managed and within single-digit levels.
BDO said asset quality improved further during the period despite strong lending momentum, with the non-performing loan (NPL) ratio declining to 1.60 percent from 1.77 percent a year earlier. NPL coverage ratio remained stable at 132%.
Shareholders’ equity rose 6%, with book value per share increasing 6% to ₱123.6. The bank’s common equity Tier 1 ratio was at 12.6%.
