BDO H1 earnings up 12%

Sy-led lender BDO Unibank Inc. on Monday reported 12% growth in its earnings for the first half of 2024, which it attributed to the strong performance of its core intermediation and fee-based service businesses during the period.

In an emailed statement, BDO said its net earnings grew to P39.4 billion, as non-interest income expanded by 13%. Its customer loans increased by 13% across all segments, while deposits grew by 13%.

It ended the semester with a current account/savings account (CASA) ratio of 69%, while its annualized return on common equity (ROCE) improved to 15.8% from 14.3% in the first three months of the year.

The bank said its non-performing loan (NPL) ratio settled at 2.06%, while its NPL coverage was recorded at 169%, which was better than industry average.

BDO currently has over 1,700 consolidated operating branches and over 5,500 teller machines across the country. It also has 16 international offices in ASia, Europe, North America, and the Middle East.
—RF, GMA Integrated News