BDO Unibank Inc. (BDO) yesterday said profit in the first half of the year hit P35.2 billion.
“This translated to a return on common equity of 15.1 percent compared to 11.3 percent in the comparable period last year,” said the largest lender in the Philippines in terms of asset.
Net interest income was at P89.5 billion with gross customer loans up 8 percent to P2.7 trillion and deposits up 12 percent to P3.3 trillion.
Non-interest income grew 11 percent to P38.2 billion as various fee-based and treasury/FX businesses grew.
Non-performing loan (NPL) ratio dipped to 1.95 percent in the second quarter from 1.98 percent in the first quarter while NPL coverage improved to 174 percent.
Shareholders’ equity was at P487.5 billion. Capital adequacy ratio and common equity tier 1 ratio were at 15 percent and 13.9 percent, respectively, above required minimum levels.
Book value per share to P91.42, up 13 percent.
“With improving macro-economic trends exemplified by decelerating inflation, sustained GDP growth and stable foreign exchange and interest rates, the Bank remains poised to capitalize on emerging growth opportunities given its solid balance sheet, strong business franchise and diversified earnings streams,” the bank said.
